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Schedule C Vs 1120s

Corporate Law Discussions

Schedule C Vs 1120s

Postby Alhwin » Fri Sep 30, 2016 12:43 am

s About Taxes)/Schedule C vs 1120S Advertisement Expert: Richard Fritzler - 3/25/2009 As an S-Corporation, what are the conditions for filing a Schedule C versus an 1120S?

What are the(dis)advantages of filing a Schedule C versus an 1120S?  
Alhwin
 
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Schedule C Vs 1120s

Postby chinmayananda » Fri Sep 30, 2016 12:13 pm

s About Taxes)/Schedule C vs 1120S Advertisement Expert: Richard Fritzler - 3/25/2009 As an S-Corporation, what are the conditions for filing a Schedule C versus an 1120S?

What are the(dis)advantages of filing a Schedule C versus an 1120S?  
chinmayananda
 
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Schedule C Vs 1120s

Postby Brewster » Sat Oct 01, 2016 3:49 am

As an S-corp you are REQUIRED to file the 1120-s, the  1120-s will attribute soe things to you personally that can require that you also file a schedule C.

The 1120-S is not optional. Because you are filing an 1120-s there can be a nominal tax advantage; IF you generate more than approximately $60,000 of personal revenue

IF your total personal revenue does not exceed approximately $150,000

IF you fit within the other 48 or so formulas the IRS is codifying as to S-Corp passive distribution. You can save some portion of the Self, not all by a long shot, not most, not even half, but some.

There is a belief that the S-corp can provide some liability protection, and a belief may be enough.

Richard Fritzlerhttp://www.owelesstax.comhttp://www.nevadacorporateservices.com

phone 800 590-6612  
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