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    Three advantages of an S Corp. over a Partnership

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    1.What are three advantages of an S Corp. over a Partnership?
    Give examples of each one.
    2.What is Piercing the Corporate Veil?
    When does it happen?
    3.What are three negatives of an S Corporation?
    4.What is double taxation?
    Provide an example.
    5.What is unlimited liability?
    6.Who hires the management that runs a publicly traded company?

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    https://brainmass.com/business/business-law/three-advantages-corp-over-partnership-354576

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    1. Advantages of S Corp over partnership
    i. As compared to partnership, S Corp limits the business liability.
    For example, the S Corp reduces the risk of the business
    ii. Tax accounting is easier for S Corp as compared to partnership.
    For example, S Corp enables owners avoid a second tax called double tax and avoiding double tax means that S Corp saves business owners a substantial amount of income tax.
    iii. S Corp saves corporate income taxes and payroll tax.
    For example, The payroll tax rate is, roughly speaking, 15% on the first $100,000 of sole proprietorship profit, partner's profit share, or shareholder, salary and 3% on anything above the first $100,000. This means that someone who makes $100,000 a year as a sole proprietor, partner, or employee pays (either directly or indirectly) about $15,000 in ...

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    The expert examines the three advantages of an S Corporation over a partnership.

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