Should you elect S corporation status?

Business Income Tax, Federal Taxes, Internal Revenue Service, S Corporation, Small Business, Social Security, Social Security & Medicare (FICA) taxes, Tax, Tax Cuts and Job Acts (TCJA), Tax Savings /

Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation (at least at the federal level). Self-employed people may also be able to lower their exposure to Social Security and Medicare taxes if they structure their businesses as S corps for federal tax purposes. But […]

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