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S Corporation. Drew Ettlinger Anthony Davis Akhil Beemreddy Wyatt Atara. Hello fellow entrepreneurs…. I am here today to explain to YOU why an S corporation is the best way to organize your business. There 6 different ways to organize your business. Sole Proprietor Partnership
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S Corporation Drew Ettlinger Anthony Davis AkhilBeemreddy Wyatt Atara
Hello fellow entrepreneurs… • I am here today to explain to YOU why an S corporation is the best way to organize your business. • There 6 different ways to organize your business. • Sole Proprietor • Partnership • C Corporation • S Corporation • Limited Liability Company • Non Profit Organization
Different kinds of Organization • Sole Proprietorship – It’s very easy to run because it is all under one person, but that one businessman has all responsibilities, especially when it comes to getting sued. • Partnership – An arrangement between 2 or more people who started a business because it is easy to organize and be innovative with more than one person. • C Corporation – Any corporation that is taxed separately from it’s owners. • Limited Liability Company – A flexible form of enterprise that blends elements of partnership and corporate structures. • Non profit – An organization that uses surplus revenues to receive its goals, instead of using it for profit. (ex: NCAA)
Why the S Corporation is/isn’t for you • S corporations are ordinary business organizations that elect to pass corporate income, losses, deductions, and credit to their share holders. They don’t pay any income tax on revenue generated. • Any double taxation on earnings made by the company is avoided. • Although, fringe benefits may be taxable.
Why the S Corporation is/isn’t for you • It is good for people who want to avoid income taxes, but also want to avoid having full responsibility of actions made by the business. • Along with avoiding full responsibility, there are protected assets of its shareholders. • These shareholders may be limited in size though.
Why the S Corporation is/isn’t for you • With an S corporation, you establish credibility to the customers and show commitment to the business. • There is a once a year tax filing requirement (vs. quarterly for a c corporation) • Multiple investment opportunities come with owning a S Corporation.
2 Examples of S Corporation • S Corporations are great for small business owners that don’t expect a lot of liability. These owners are exempt from some taxes, and seek to earn a profit. • “Loophole Closing” – expected to help S corporations expand the type of income earned. In the process S corporations saved themselves 9 billion dollars in taxes by not paying income tax.
*Additional Info* • Examples of S Corporation Not subject to income taxes Which direction is for you?