Introduction to C Corporation

In this video, I will be discussing how C corporations are taxed, tax pitfalls of C corporations, how to incorporate your business, etc.

Small business corporations are classified for tax purposes as either C or S corporations. These two letters refer to sub chapters of the tax code. By default, business corporations begin life as C corporations. After incorporating, the shareholders may choose S corporation status if they want the business owners to be taxed like a partnership instead of a corporation. If you want to choose S corporation status, be sure to ask your CPA about the built-in gains tax before changing your corporate status.

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