S Corporations while taking a stroll

While I was walking I thought I would record a video and talk about S Corporations. Talk to your tax profession if you are a Schedule C LLC or a partnership company if swithing to the Scorp is right for you. S corporations were created in 1958 under the U.S. Internal Revenue Code to provide small businesses with the benefits of limited liability while avoiding double taxation. The structure allows profits and losses to pass through directly to shareholders' personal tax returns, similar to partnerships but with corporate protections. Over time, Congress has modified S corp rules, including increasing the shareholder limit and allowing certain trusts and entities to be shareholders, making it a popular choice for small business owners