Posted by Ed Copp (OH) on January 29, 2001 at 18:27:41:
Both begin as a “c”. To become an “s” you must elect to be an “s” corp. An “s” corp. bookeeping flows to the individual and is reported on the individuals IRS form 1040 (real simple)
A “c” corp has to file it’s own tax returns, not (real simple)
Posted by Kristen on January 29, 2001 at 17:20:53:
I have seen many questions about S corp’s and C corp’s. What are they and what is the difference?? In other words, why would I pick one over the other??
Thank you very much!!!