Establish an s-Corporation.
Establishing and Managing an S Corporation
An S Corporation, or “S Corp,” is a business structure that offers pass-through taxation, allowing the company’s profits and losses to be passed directly to shareholders and reported on their individual tax returns. This structure helps avoid double taxation, where both the corporation and its shareholders would otherwise be taxed on the same income. At Manay CPA, we will assist you in navigating the S Corporation election process, ensuring your business remains legally compliant and financially stable.
How Manay SPA Can Assist You
Establishing an S Corporation
A business qualifies for S Corporation status if it is already incorporated and has fewer than 100 shareholders who meet specific eligibility criteria. S Corporations benefit from being taxed like partnerships while also enjoying the limited liability protections typical of corporations. Our team at Manay CPA is here to guide you through every step of the S Corporation election process, ensuring a smooth transition from start to finish.
Business Tax Advisory
Similar to a C Corporation, an S Corporation separates personal assets from professional ones, offering legal protection for business owners. Like partnerships, S Corporations do not pay corporate taxes on earnings, which reduces liability for self-employment taxes. While S Corporations offer several tax advantages, there are also challenges to consider. Our team at Manay CPA is here to help your S Corporation navigate the complex regulatory environment and ensure full compliance with all legal and tax obligations.