my business is an S-corp. I own 100 percent of the stock. I have no partners. I save about 15% from the elimination of the self-employment tax.
I have to have a shareholder meeting once per year. I am the lone shareholder....get the drift?
My wife is listed as the secretary. I file paperwork once per year with a fee to the state.
Simple, easy, cheap. I think it cost me $35 dollars to form an S-corp
NOT a c-corp.....form an S-corp
Your profit from the business is reported on your personal tax forms at year end.
You have to file a corporate return but all tax liability transfers to the shareholders.
By the time you can make ends meet....They move the ends.