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Business Structure from a Tax Perspective

We have elected the S corporation form of business. Now we are not sure this was the best business structure for us from a taxing perspective, and we would like a written comparison discussing the tax advantages and disadvantages of the C corporation, S corporation, and partnership forms of business. Also we would like a recommendation based on your findings, which we will use for future business considerations.
Attached are some information about the S-Corp.

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We have elected the S corporation form of business. Now we are not sure this was the best business structure for us from a taxing perspective, and we would like a written comparison discussing the tax advantages and disadvantages of the C corporation, S corporation, and partnership forms of business. Also we would like a recommendation based on your findings, which we will use for future business considerations. This should be prepared on 3 pages.

There are several advantages that an S Corporation has. To begin with the company's losses can be passed on to its shareholders; the shareholder/owners can set off the losses against personal income and so reduce your tax burden. In addition, the S corporation can be used by the shareholder or owner to reduce self-employment tax and FICA tax. The profits of the shareholder are not taxed in this manner. So the S Corporation provides its shareholders with protection from double-taxation as well gives them the advantages of limited liability and the facility to raise capital more easily as a corporation. What the S Corporation does is that that it shows profits and losses as they pass through onto the shareholders. The S Corporation has the special benefit that the Corporation does not have to pay taxes separately. For the purpose of taxation S ...

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This solution gives you a detailed discussion on Tax advantages

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