This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. 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.…
This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. 1) Meet With Your CPA and Attorney The first step is to meet with your CPA and Attorney. Your CPA should be able to review your…
Startup businesses are often considering either a Limited Liability Company (“LLC”) or a Subchapter S Corporation. Here are the differences:
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…
