Corporations file Form 1120 with the IRS and pay their own taxes. Salaries paid to shareholders who are employees of the corporation are deductible. But dividends paid to shareholders aren't ...

A special form of corporation that allows the protection of limited liability but direct flow-through of profits and losses The S corporation is often more attractive to small-business owners than ...

Answer: The major attributes of a sole proprietorship are as follows: · The income and expenses from your business are reported on Schedule C of your individual income tax return ...