024: Positives & Negatives of the S-Corp - Part 1 - published 09/10/2020

S-Corporations are corporations electing to pass corporate income, losses, deductions, and credits through to their shareholders (via Form K-1) for federal tax purposes. Shareholders of S-Corps report the flow-through of income and losses on their personal tax returns (Form 1040) and are assessed tax at their individual income tax rates. This allows S-Corp’s to avoid double taxation on their corporate income.