The Tax Cuts and Jobs Act has left many of today’s businesses with big questions.  Incorporation remains a hot topic, but this law is shaking things up.  It’s quick to assume your company should be one or the other, but without careful consideration of the facts, your organization may end up facing financial loss, hefty tax penalties or missed tax savings.

The goal of this type of incorporation is to minimize tax burdens, but the wrong decision can be costly.  In a C Corp, the company pays corporate taxes to the Internal Revenue Service.  But, in an S Corp, there’s no entity tax.  Rather, taxes are paid through an individual return. (more…)