A special form of corporation that allows the protection of limited liability but direct flow-through of profits and losses The S corporation is often more attractive to small-business owners than ...

And I expect that occasionally you've encountered clients who made a change at one point but then reverted back to a previous tax status to get the most advantageous tax outcomes for their current ...

Each year, S corporations must file Form 1120-S to report income, gains, losses, deductions, and credits to the IRS. They also have to provide each shareholder with a Schedule K-1, detailing each ...