Dealing With Tax Problems: Easy As Pie: Difference between revisions
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Latest revision as of 16:49, 19 October 2026
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The commonest form of legal entity is the organization. There are two basic forms, C Corp and S Corp. A C Corp pays tax in relation to its profit for last year and then any dividends paid to shareholders can also taxed. Hence the term double-taxation. An S Corp however works differently. The S Corp pays no tax on profits. The gain flows through to the shareholders who then pay tax on cash. The big difference extra that the 15.3% self-employment tax does not apply. So, memek by forming an S Corporation, your business saves $3,060 for 2011 on income of $20,000.
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