Several elections are available to an S corporation or its shareholders that can affect the basis adjustments caused by distributions and other events.
4 S Corp Elections that Affect Basis
Tag: s corporation
The Tax Benefits of S Corporation Status
Electing S corporation status continues to be a popular entity choice, combining the liability protection of a corporation with many of the tax benefits of a partnership.
Making the Right Entity Choice: C Corporation vs. S Corporation
The right entity choice can make a difference in the tax bill you owe for your business. There are plenty of potentially expensive tax problems that you should assess before making the decision to convert from a C corporation to an S corporation.