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Revision as of 06:39, 7 August 2026


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Getting back to the decision of which legal entity to choose, let's take each one separately. The most prevalent form of legal entity is this manufacturer. There are two basic forms, C Corp and S Corp. A C Corp pays tax in relation to its profit for the 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 money flows to the shareholders who then pay tax on that money. The big difference yet another excellent that the 15.3% self-employment tax doesn't apply. So, by forming an S Corporation, small business saves $3,060 for 2010 on money of $20,000. The income tax still applies, but I'm sure someone like better to pay $1,099 than $4,159. That is an important savings.

People hate paying fees. Tax avoidance strategies are entirely legal and needs to be made good use of. Tax evasion, however, isn't. Make sure you know where the fine lines are.

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