Month: February 2022

Financial statements are like an MRI scan for your business. They look beneath the surface of your company to offer a more in-depth look at its financial position, operations, sustainability, and future outlook.

Like other corporate tax entities, an S-corp offers shareholders the legal and financial protection of limited liability while eliminating double taxation.
When your business is taxed as an S-corp, the IRS allows you to pass corporate income, deductions, losses, and credits through to your shareholders. Because income is passed through the corporation without taxation, S-corps are often called “pass-through” entities.