Corporate Taxation

What is S Corp vs C Corp? Difference Between C Corp vs S Corp. C corporations pay tax on their income, plus you pay tax on whatever income you receive as an owner or employee. An S corporation doesn’t pay tax. Instead, you and the other owners report the company revenue as personal income. Read … Read more

Can you reverse an S Corp election? To revoke a Subchapter S election/small business election that was made on Form 2553, submit a statement of revocation to the service center where you file your annual return. The statement should state: The corporation revokes the election made under Section 1362(a) Read more on www.irs.gov S corporations, … Read more