Which corporation is better for nail salon, an S corp. or C Corp.??

Question

but for the S corp. i pay the percentage for taxes as a sole proprietor, which is 15% and only once right. where C corp I pay double, but i dont get it how? One taxes are for the companies profit and other for my salaries? is that what it means?

Answer 1

S-Corp

Answer 2

If you have a lot of assets, I'd suggest an LLC.  If your partnering with people, then a C-Corp, if your alone, then the S-Corp.

Answer 3

they are the same just the reporting is different and you elect to be treated as an S corp.  I Would suggest to start out as a S corp so you can deduct the loss's for the start up on your return and pay any taxes at the lower personal rate. see your tax adviser for a more personal analyst