Key Takeaways
Unique Tax Benefits: The S Corporation election enables pass-through taxation, allowing business owners to report income directly on personal tax returns, effectively avoiding double taxation.
Eligibility Criteria: To qualify for S Corp status, businesses must have a maximum of 100 shareholders, all of whom must be U.S. citizens or residents.
Tax Savings Opportunities: Electing S Corp status can minimize self-employment tax liabilities and offer various business deductions, lead... #StartupBusiness #compensation #Corps #Earnings #maximize #Reasonable #scorpelection #Secret #Unlock
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