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.

Maximize savings and minimize stress with these 10 essential tax planning tips for sole proprietors to reduce your tax liability.