Blog Archives

The Difference Between a C Corporation and a Subchapter S Corporation

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.


Tagged with: , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

5 Easy Steps to Opening a Business in Connecticut

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


Tagged with: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

The Difference Between an LLC and a Subchapter S Corporation

Startup businesses are often considering either a Limited Liability Company (“LLC”) or a Subchapter S Corporation.  Here are the differences:


Tagged with: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

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


Tagged with: , , , , , , , , , , , , , , , , , , , , , ,