BusinessWeek has an Article Posted with helpful information regarding the tax implications of choosing S-Corporation or C-Corporation status when forming a new company:

The debate on proposed tax rate increases for the country’s wealthiest people has just begun, and the potential increases would not happen until 2011. Still, tax experts say it is not too early for small business owners to think about defensive strategies. Whether they’re contemplating moving from S-corporation to C-corporation status, accelerating income, or deferring compensation, their decisions should be thought through in the larger context of their business and personal goals, says Lester Law, senior vice president at U.S. Trust’s National Wealth Strategies Group(BAC), in Naples, Fla.

MyNewCompany.com can form a DBA, an S-Corporation, a C-Corporation or an LLC for you using our Company Formation Service. Many of our clients will consult with their tax advisor (CPA, Bookkeeper, etc.) to see which entity type will give them the maximum tax benefits for their individual tax situation before having us form their company. To see the benefits of using our Formation Service instead of an attorney or other filing service you can visit our page “Compare Us to the Competition”.

Related posts:

1. Hints on LLC Formation
2. FEIN Benefits Explained
3. The Benefits of a Business Audit

This entry was posted on Thursday, May 28th, 2009 at 7:03 am and is filed under Incorporation, Starting A Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.