Which corporation ( S or C) is best for me?

Question

I have registered a single employee corporation, which is based in Texas. I provide consutling services in the software field and my clients pay my company on C2C basis and I have to pay all the taxes.

I am new to this. So I would like to take some suggestions from the forum. I've been reading the differences between S and C corporations. As far i understood, it looks like C corporation has to pay more taxes. Should I change my corporation to S?

Answer 1

You definitely want to register as a S corporation. the taxing benefits are definitely higher, with a similar personal liability protection as a C corporation.