Hi and welcome to the tax implications podcast with Sam Hicks

This is your short form podcast covering the items that affect your bottom line.

Today I’ll be discussing how an S corporation might be the most suitable form of business for a new venture.

You should consult with experienced tax and legal professionals before making any decisions for your business.

Thank you for listening. 

The biggest advantage of an S corporation over a partnership is that as S corporation shareholders you would not be personally liable for corporate debts.

S corporation shareholders can deduct their share of business losses on their personal tax filing.

To the extent the income passed through to you is qualified business income, you can be eligible to take the 20% Code Sec. 199A pass-through deduction.