Many small businesses form S-Corps, or S corporations, because such a corporate structure combines the benefits of a partnership with the benefits of a C-corporation. Unfortunately, the state the S-Corp is operating in can dissolve the S-Corp if certain annual maintenance steps aren’t completed. To prevent your S-Corp from being dissolved involuntarily, follow these three steps every year.
If you hate paying corporate income taxes and then paying personal income taxes on business profits, now may be the right time for you to form an S-Corp. However, there are consequences, such as IRS scrutiny, that you must consider carefully before you make the decision. To help you decide, here are two signs now […]