Thinking about forming a corporation for your business? An S Corporation might be the tax-friendly option you’ve been looking for. By allowing income and losses to pass through directly to shareholders, S corps help avoid double taxation—a major advantage for many small businesses. In this post, we explain what an S Corporation is, who qualifies, how to elect this status, and important considerations about asset distributions that every business owner should know.

Forming an LLC as a sole proprietor protects personal assets, offers tax benefits, boosts credibility, and ensures smooth wealth transfer.