S-Corps What is an S-Corporation? Answer: it is just like any other corporation, except for how it is taxed. Regular C-Corps pay their own taxes, and the owners pay taxes on the disbursements from the corporation. S-Corporations, however, typically do not pay federal corporate income tax, as both profits and...
CORPORATIONS LLCs and LPs: New Federal Beneficial Ownership Interest Report Required The recently enacted Corporate Transparency Act mandates filing a Beneficial Ownership Interest Report and marks a significant shift in how ownership interests must be reported to the federal government. The law aims to enhance transparency and curb illicit activities,...
LLC or S-Corp Which entity is best for you? When choosing a form of entity, small business owners often end up deciding between an S-Corporation and a Limited Liability Company. LLCs and S-Corps have some common characteristics but are very different in other ways. Here are some things to keep...