S Corp Questions


1 Votes
1 Answers
416 Views
Closing an S-Corp in California

Sorry for the California specificity of my question, but that is where I am located. I want to close my S-corp (I'm taking a full time job). Ideally, I'd like to do it before the end of the year...

asked Nov 9 '13 at 06:02
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Dave
160 points

3 Votes
1 Answers
417 Views
Entertainment or Media Company

I am starting a media company that I'd like to set up similar to what larger media/entertainment companies do. Within this company, I will be producing a variety of entertaining ventures; music...

asked Sep 10 '13 at 09:31
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Murf
16 points

1 Votes
1 Answers
445 Views
Single Employee S Corp - Wage/Salary Options

I'm starting a self-employed S-Corp to perform software development services for which I will charge an hourly rate. I'm setting myself up as the sole employee of the S-Corp and will pay myself...

asked Mar 1 '13 at 08:46
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User25256
6 points

0 Votes
1 Answers
464 Views
Recommended Business Structure for Group of Part Time App Builders

A few friends and I have started building small apps and WordPress plugins in our spare time, and I'm wondering what would be the best business structure (LLC, S-Corp, etc) as I think it's almost...

asked Feb 20 '13 at 06:14
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Jeremiah Prummer
441 points

1 Votes
1 Answers
383 Views
Most Appropriate Business Type for Selling a Virtual Product?

I run a business where sells certain ebooks and pdfs online. I want to form an official business entity just to be able to operate under that name, protect myself from liability as well as get any...

asked Dec 30 '12 at 14:47
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Clifgray
200 points

1 Votes
1 Answers
691 Views
S corp distribution income tax rate

I am the sole owner of an S corp and I am the only employee. If I make $100,000/year and I pay myself $50,000 as a salary and the other $50,000 as distribution. How much income tax do I have to pay...

asked Dec 4 '12 at 16:07
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Java Student
106 points

1 Votes
4 Answers
570 Views
C-Corp vs LLC. How much more complex?

I am starting a technology business with my 50% partner. We are trying to decide between an LLC and a C-Corp. (We are in Michigan) In our case an S-Corp probably won't work too well. I've read a...

asked Dec 5 '12 at 10:00
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Thread7
11 points

1 Votes
1 Answers
408 Views
Reasons not to start as an S corporation for a small professional services firm

My understanding is that an S corporation is the easiest for a new firm, and can always be changed to a C corporation later. What are the reasons not to do it this way? The firm under...

asked Nov 3 '12 at 03:29
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Math Attack
106 points

3 Votes
3 Answers
560 Views
Defer Taxes on Profits in an S-Corporation

Are there any ways to defer taxation on S-Corp profits in a year?

asked Aug 21 '12 at 09:46
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N L
18 points

1 Votes
1 Answers
339 Views
Maintaining S corp in california

I recently registered a S corp in CA. At this time I do not have any transaction. Income is 0, hoever I have made some expenses with my Biz account for small items like computer, desk etc. From...

asked Aug 11 '12 at 03:15
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User19188
6 points

2 Votes
2 Answers
522 Views
Paying S-Corp Owner Directly from Main Bank Account

I run a small US-based startup, (an S Corp), I am also a contractor of this business. Am I able to withdrawl money from the main business banking account and pay myself (a contractor) without...

asked Jul 16 '12 at 06:22
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User1062058
22 points

2 Votes
4 Answers
479 Views
Pitfalls of using an online service to form an S-Corp

My company (or soon to be) is looking at becoming an S-Corp. Right now most of our funds are tied up in the company and we can't really afford to hire an attorney to do the work for us. Can we get...

asked Jun 29 '12 at 04:58
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Mike
19 points

0 Votes
2 Answers
605 Views
I am starting a consulting firm. My client is in canada but will pay me in US currency. Should I create an LLC or S-corp

I live in California USA. I have a client in Toronto Canada. They are paying me in US dollars and require a corp-to-corp realationship. Should I create an LLC or S-corp?

asked Jun 15 '12 at 16:38
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Mitch
1 point

1 Votes
3 Answers
1.42K Views
Taxation of fringe benefits for shareholders in an S Corp?

In this publication, the IRS lists a number of fringe benefits that you can provide employees and details when/why they would be considered taxable vs. non-taxable. However, at the start of the...

asked May 3 '12 at 01:56
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Jeffrey Blake
115 points

1 Votes
2 Answers
465 Views
Does The IRS Think Full-Time S-Corp Shareholders Are Also Employees?

After asking about the taxation of fringe benefits for shareholders in an S Corp, it occurred to me that there could be two types of shareholders. Those who are silently collecting whatever profits...

asked May 3 '12 at 23:43
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Jeffrey Blake
115 points

0 Votes
1 Answers
511 Views
No Income on S-corp currently. What happens when the S-corp starts generating income?

I want to start a S-corp. The company will not generate any income atleast of for 1 year. Probably after a year the company may start generating some income. I also have a fulltime job. When the...

asked Apr 15 '12 at 00:28
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Ragha J
4 points

1 Votes
1 Answers
363 Views
Do you send a copy Certificate of Incorporation (Articles of Incorporation) to an interested investor?

Do you think is safe to send a copy of the certificate of corporation (Articles Of Incorporation) to a very interested investor? I think this investor wants to verify that my startup company is...

asked Mar 23 '12 at 12:47
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Zapoo
303 points

2 Votes
2 Answers
970 Views
Proper way to get share in US company for non-US citizen

I was working for quite a time with US company which is S Corporation. Now we are planning to continue as partners and I should get 10% of the company. As far as I understand I cant be a...

asked Feb 13 '12 at 01:59
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Igor Romanov
118 points

2 Votes
1 Answers
626 Views
S Corp Salary - no income

My startup is at the stage where I'm considering forming an LLC, S-Corp or C-Corp. I've been reading a lot, on this site and others, about the various advantages and disadvantages of the 3 main...

asked Jan 12 '12 at 02:14
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Paul Cezanne
649 points