The form that owners select for a particular business will depend on the particular relationship among the owners, the business objectives and the particular circumstances of the owners at the time of organization. There are several alternative forms of business organizations: sole proprietorship, general partnership, limited partnership, limited liability company,…

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Calculating numbers for income tax return with pen and calculator

The S Corporation structure has become increasingly popular in recent years due to the advantages it provides to shareholders. Namely, a business can qualify for "pass-through" tax treatment by electing Subchapter S status. Pass-through taxation allows the profits and losses of the S Corporation to flow directly to the shareholders,…

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