S Corporations

An S Corporation is a type of business structure that offers the legal protections of a corporation while allowing profits and losses to pass directly to owners’ personal tax returns, avoiding double taxation. It combines the liability protection of a corporation with the tax benefits of a partnership, but has specific eligibility requirements, such as a limited number of shareholders. S Corporations are often used by small to medium-sized businesses seeking to optimize tax benefits while limiting personal liability for business debts and legal issues.