How to Form Your Own S Corporation and Avoid Double-Taxation

Starting and growing a business is hard enough without incurring the double taxation of a "C" corporation. Those forming an "S" corporation are taxed only once -- at the personal income tax rate. This completely updated reference offers step-by-step instructions and forms to save money and protect personal assets by forming an "S" corporation.It explains in detail how to apply for "S" corporation status for either a new or existing small business. It includes all the forms needed along with easy-to-use instructions and sample year-end tax documents for an "S" corporation.

"S" corporation benefits include these lucrative, money-saving opportunities:

-- avoid corporate tax

-- find a personal tax shelter

-- own "S" corporation investments

-- sell property tax-free to an "S" corporation

All new and updated information includes: details on the recent Small Business Job Protection Act, state requirements for "S" corporation eligibility, as well as detailed pros and cons of "S" corporations versus limited liability companies (LLCs).