Form an S Corporation
S Corporation Formation and Management
An S Corporation, also known as “S Corp,” is a type of business structure that allows for pass-through taxation, meaning that the business’s profits and losses are passed through to the shareholders and reported on their (individual) tax returns. It will enable the company to avoid double taxation, which occurs when the corporation and the shareholders are taxed on the same income. At Manay CPA, we will guide you through the S Corporation election process and ensure your business is legally compliant and financially sound.
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How Manay CPA Can Help You
S Corporation Formation
Businesses qualify for S Corporation status if they are already incorporated and if they have fewer than 100 shareholders who meet certain eligibility requirements. S Corporations can enjoy being taxed like partnerships while having limited liability protections like corporations. Our team is here to support you throughout the S Corporation election process from start to finish.
Business Tax Guidance
Just like a C Corporation, an S Corporation business owner’s personal assets are legally protected and separated from their professional assets. And like partnerships, they don’t pay corporate taxes on any earnings and income that they generate, which in turn lowers the liability to pay any self-employment taxes. S Corporations come with many tax benefits such as these, but the pros are not without their cons. We will help your S Corporation navigate the complex regulatory landscape and ensure your business meets all legal and tax requirements.
