An S corp is an organization that has chosen to pass its tax burden to its shareholders, rather than report income, losses, deductions and credits directly to the Internal Revenue Service (IRS).

As clients' businesses evolve, it sometimes makes sense for them to change how their companies are taxed. And I expect that occasionally you've encountered clients who made a change at one point but ...

A corporation is a legal entity created by individuals or shareholders that functions as a separate organization from its owners. Corporations have some of the same legal rights as individuals. They ...