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iFinancialAdviser
Site Admin
Joined: 28 Dec 2004
Posts: 1699
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 Posted: Tue Jan 24, 2006 11:02 pm Post subject: Tax Benefit: S Corporation |
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What are possible tax benefits of forming S Corporation? What are pros and cons of forming and operating S Corporation in terms of tax?
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Online Finance Education :: College Degrees |
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danrak
Joined: 12 Jul 2006
Posts: 41
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| Posted: Sun Sep 10, 2006 8:15 pm Post subject: |
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| i went with an S Corp. I believe it was better suited towards my needs, although now I honestly cannot remember why. I think it was the way it is taxed that it would help me out. I believe if you plan on saving money under the business name a C would have been better. But this was a while ago and cannot remember all the reasons. |
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24Hours
Joined: 11 Aug 2006
Posts: 95
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| Posted: Mon Sep 25, 2006 6:42 pm Post subject: |
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I considered the S in the past but wound up going with a Limited Liability company - compare things to that before you decide!
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Soniceffect
Joined: 11 Jun 2006
Posts: 22
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| Posted: Sun Nov 12, 2006 5:28 pm Post subject: |
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What are possible tax benefits of forming S Corporation?
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Ok Im not very well verse on US Corporation tax / Federal taxation however purely from my knowledge of uk corp taxation I can say this is probably a hard question to answer what will be a benefit to one will not be so much to another 
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Money-Helper
Joined: 02 Aug 2007
Posts: 76
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| Posted: Fri Aug 17, 2007 9:13 pm Post subject: |
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An S corporation or S-corp, for United States federal tax purposes, is a corporation that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code.
Unlike a regular C corporation, an S corporation generally pays no corporate income taxes on its profits. Instead, the shareholders in the S corporation pay income taxes on their proportionate shares, called distributive shares, of the S corporation's profits. Shareholders must report the income (and pay a related tax, if any) regardless of whether the shareholders receive distributions from the S corporation.
source: wikipedia |
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