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Old 02-12-2014, 07:39 PM   #6
JaxcockFL
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Default Re: S corporation vs. C corporation

Depends what you do, etc as far as whether a S corp fits you. As said, you can avoid a lot of the employment taxes, not all though. You have to pay yourself a salary, but you can take profits through disbursements without paying the 15% (+/-) for payroll taxes. That can be very attractive.

You pay taxes through your personal in April, as it flows through. You file your s corp taxes by March 15 to get your K-1 and W-2 and then it's on to April.

Again, it depends on what you are going to do for a living in your new business.
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