Blog Archives

The Difference Between a C Corporation and a Subchapter S Corporation

Business owners can maintain their corporation as a regular or “C” Corporation. Alternatively, if they are eligible, they may want to make a Subchapter S Election. Both are treated as separate legal entities. Here are the differences however: C Corporation


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The Biggest Loser….The Self-Employed in Connecticut

The Biggest Loser is a TV show where contestants attempt to lose the most weight for cash prizes. Full Disclosure: I don’t watch the show and I have only seen short clips of it. I don’t proclaim to fully understand


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Why a Growing Business Should Elect Subchapter S Filing Status

The primary reason to make the Subchapter S filing status election is to have a single federal income tax when the business is eventually sold.  If the corporation is not an S corporation and the company assets are sold, there


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What is Reasonable Compensation and Why Closely Held Business Owners Should Be Concerned

This is a big issue with the IRS and closely held C corporations right now.  The focus is whether or not the owners-employees, as well as family members, are reducing their profits through large salaries and bonuses.


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Why Every Week is "Shark Week" for the Self-Employed in Connecticut

This is “Shark Week” on the Discovery Channel.  We are (not so gently) reminded not to swim with the sharks. For the self-employed in Connecticut, every week is “Shark Week”.  A self-employed person is someone who runs their business as


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