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Revision as of 19:16, 22 August 2026
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We hear a lot about income taxes, however, many people concept just the amount income-related taxes they're disbursing. We're taxed by both our federal government and our state. Being the federal government takes the lion's share, I'll concentrate on its free stuff.
Another angle to consider: suppose your business takes a loss of revenue for the majority. As a C Corp is actually an no tax on the loss, however there can also no flow-through to the shareholders along with an S Corp. Losing will not help your personal tax return at almost all. A loss from an S Corp will reduce taxable income, provided there is other taxable income to shrink. If not, then is actually no tax due.
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