5a2367bb_egal_Radio___Free_Legal_Advice__S_Corp
[0] Advantages [Partnership] Simple and inexpensive to create and operate Partners report their share of profit or loss on their personal tax returns [Limited Partnership] Limited partners have limited personal liability for business debts as long as they don’t participate in management. [Limited Liability Company] Owners have limited personal liability for business debts even if they participate in management. IRS rules now allow LLCs to choose between being taxed as partnership or corporation. [C-Corp] Owners have limited personal liability for business debts. Fringe benefits can be deducted as business expense Owners can split corporate profit among owners and corporation, paying lower overall tax rates. [S-Corp] 
Owners have limited personal liability for business debts. Owners report their share of corporate profit or loss on their personal tax returns. Owners can use corporate loss to offset income from other sources.
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S-Corp