1. Click this for the Question
   1. Question
   2. Kit to Prepare for your adviser

1. Click this for the Answer

   1. Answer

   2. Related Articles

   3. Tax Killer

   4. Cost Killer

   5. Prepare for your Adviser

   6. Objectives

   7. Technical Analysis & Citations

   8. Financial Accounting

   9. For Management - the Anyone Making the Decision

   10. Checklist for Deployment

   11. Checklist for Monitoring

1. Click this for the Solution
   1. Solution
   2. Kit to Prepare for your adviser

Question or Topic 

The Question:  What are the risks and rewards associated with different business forms of doing business -- of particular interest is the "S Corporation".

Objectives

Related Articles

The Answer

The C Corporation and the S Corporation have many similarities.  These similarities make the decision process a tad more complex for most individuals - simply because it is not a part of the daily routine and the laws change so rapidly.

A good place to start the process is to look at two PowerPoint presentations Bob Parrish CPA has prepared for you.  These are not the only articles you will want to look at - but you will find these two presentations to be a good start (The third "S Corporation an Introduction" has a short movie you may watch on this topic):

 Keep in mind the following:

1. Both have limited liability

2. The C Corporation pays tax, and the shareholder pays tax on what s/he draws from the corporation

3. The S Corporation does not pay tax and the entire loss or profit is deducted to taxed to the shareholder

4. The employee benefits of the S Corporation are limited for the 2% or more S Corporation shareholder

The following articles may hold some interest for you also:

MS Word	Browser Format
1120-S Taxation and Shareholder Salaries	S Corporation - What It Is About S Corporation Distributions - Sometimes Not Tax Free Reasonable Compensation - Fringe Benefits Reasonable Compensation Issues S & C Corp S Corporation Shareholder Compensation S Corporations - Activity Classes S Corporation's and Shareholders' Salaries - IRS View S Corporation Shareholder Compensation Issues (Excel)

Solutions

Solutions are dependent upon facts & circumstances, law and the objectives.  These elements vary from one time to another, from one circumstance to another and from person or entity to another.

Kit to Prepare for Your Adviser

1. If you have not watched the following items, please do so 

   1. S Corporation an Introduction (PowerPoint); S Corporation an Introduction (Browser) 

   2. Corporations - PowerPoint

   3. Basic Comparison of the C and the S Corporation - PowerPoint 

   4. Corporations - Browser

   5. Basic Comparison of the C and the S Corporation - Browser

   6. Qualifications of the S Corp - a partial listing

   7. 2553 Organizer - Data Bob Parrish Will Need To Assist You

 Engagement Status Letter ~ WARNING!

WARNINGS ABOUT THIS SITE'S CONTENT~ Terms & Conditions

This entire site is for educational or informational purposes only.   You are not to use the forms, concepts, strategies, or knowledge without assistance from a professional.   The author, the corporation, the ISP, Bob Parrish CPA, Bob Parrish CPA, P.C. or other parties related to those or this site do not guarantee or warrantee in any manner the suitability, usefulness, accuracy, timeliness, or results of any portions of this site, nor the links contained in this site which link to other areas.   At times, information is taken from other sources and is believe to be accurate, but no verification or confirmation is performed.  Furthermore, if any federal or state law invalidates a portion of this disclaimer, the other portions still apply.   In addition, any allegations or actions are restricted to arbitration only and must be arbitrated by the Better Business Bureau in Sarasota Florida.  Reading of these pages constitutes complete acceptance and agreement with all disclaimer provisions on all pages of this site.

Material provided herein is based upon the most recently available information and is subject to change. It is not intended to be complete and should not be used to make any type of decisions. All should consult a qualified tax adviser and other professional(s) for more complete information.  

You have not engaged Bob Parrish CPA PC, Bob Parrish CPA, pro1040, Consulting on line, any related parties, or the ISP to perform any services for you or offer you advice.  This entire site is for educational or informational purposes only.   The materials are not opinions, advise, legal advice on any matter and have not been tailored to specific jurisdictions, individuals, other entities, or circumstances.  You are not to use the forms, concepts, strategies, or knowledge without assistance from a professional.   You must update and validate this information yourself with your own research, experience and the advice of a competent professional adviser in your jurisdiction.  The author, the corporation, the ISP, Bob Parrish CPA, Bob Parrish CPA, P.C. or other parties related to those or this site do not guarantee or warrantee in any manner the suitability, usefulness, accuracy, timeliness, or results of any portions of this site, nor the links contained in this site which link to other areas.   At times, information is taken from other sources and is believed to be accurate, but no verification or confirmation is performed.  Furthermore, if any federal or state law invalidates a portion of this disclaimer, the other portions still apply.   In addition, any allegations or actions are restricted to arbitration only and must be arbitrated by the Better Business Bureau in Sarasota Florida.  The cost of arbitration to the complainant is restricted to the cost through a court having jurisdiction in the matter including if allowed by law the cost of legal fees.  Reading of these pages constitutes complete acceptance and agreement with all disclaimer provisions on all pages of this site. ....... Thursday, February 22, 2007 11:45 AM   

Navigation