Paying Taxes Can Tax The Better Of Us: Difference between revisions

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Latest revision as of 12:17, 15 September 2026


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Hence the term double-taxation. An S Corp however works differently. The S Corp pays no tax on profits. The money flows right through to the shareholders who then pay tax on that money. The big difference here i will discuss that the 15.3% self-employment tax does not apply. So, by forming an S Corporation, business saves $3,060 for this year on income of $20,000. The taxes still applies, but I am sure someone would rather pay $1,099 than $4,159.

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