S corporations are similar to LLCs in that they provide owners with limited liability protection while offering the tax structure of a partnership. Many entrepreneurs have two goals when choosing a structure for their business: protecting their personal assets for business claims (limited liability) and having business profits taxed on their individual tax returns. Not long ago, an S corporation was the only choice for these business owners. In the last few years, however, the popularity of S corporations has decreased as limited liability companies (LLCs) have largely replaced them.... Read The Rest →