can someone describe a s-corp to me? tax benefits? do i use draws or dividends in...

Tara F · #1 (**permalink**) 03-04-2008, 10:20 PM

...the chart....? of accts? and anything else that might be important? thank you.

Judy · #2 (**permalink**) 03-04-2008, 10:22 PM

Don't incorporate as an s-corp for tax savings, you won't get them. It could end up costing you MORE - the corporation has to file a return every year also. The purpose of a corporation is to protect your personal assets, not to save taxes.

chatsplas@sbcglobal.net · #3 (**permalink**) 03-04-2008, 10:26 PM

S corps channel income to owner
C corps pay taxes and income paid to employees is taxed

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