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Old 02-03-2012, 11:17 AM
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grass-scapes grass-scapes is offline
LawnSite Bronze Member
 
Join Date: Apr 2003
Location: Greensboro NC
Posts: 1,554
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.
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Grass Scapes
Greensboro NC
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