Mastering Form 2553: Unlocking the Benefits of S Corp Tax Election
inDinero Tax Tips
APRIL 26, 2023
S-corps can save on taxes because their taxable income is taxed only once. The owners of an S corp report income or losses on their personal tax returns, which are taxed at individual tax rates, not corporate rates. It allows for flow-through taxation, which helps retain more money in the company.
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