The Dangers of a General Partnership

When two or more people agree to share profits and losses, a partnership has been formed. The business may have as many partners as agreed upon, with nothing more than a handshake or an oral agreement. In fact, state law provides that under such circumstances you have...

The Advantages of an S Corporation Election

S corporations have certain tax advantages that you might consider for your small business. An S corporation is a regular corporation that has opted for the IRS Small Business Election to have all income or loss passed down to the personal tax returns of its...