5 Considerations When Starting a C Corp
Running your business as a C corporation puts a clear line between your personal tax status and the company's. Unlike S corporations, C corps are not flow through entities, so the tax liability remains with the company itself, not the shareholders. You will need to keep all of your income and loss information for the company separate from all other entities. You can work with a tax preparer to create a suitable tracking system for your C corp. Here are a few things to conside
5 Mistakes to Avoid When Starting an S Corp
Although setting up your business as an S corp can reduce your tax liability and offer legal protection, it is easy to make mistakes during the initial stages and beyond. The government requires precise adherence to the given S corp regulations to maintain that corporation designation. Mistakes along the way could result in double taxation, legal repercussions or revocation of your S corp status. Here are five common errors to avoid for the best chance at success. Failure to
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