Dealing With Tax Problems: Easy As Pie: Difference between revisions

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Revision as of 13:41, 16 September 2026


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Hence the term double-taxation. An S Corp however works differently. The S Corp pays no tax on profits. The money flows to the shareholders who then pay tax on cash. The big difference significant that the 15.3% self-employment tax doesn't apply. So, by forming an S Corporation, your business saves $3,060 for 4 seasons on a profit of $20,000. The income tax still applies, but Major someone would choose pay $1,099 than $4,159.

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