Overview
The business structure of your company has a huge impact on the taxation of your firm’s profits. A C-corporation (C-corp) structure, for example, has several drawbacks that generate a higher tax on company profits over time. If your business was formed as a C-corp, you can convert to another form of ownership and reduce your tax liability. These tax issues become especially acute when it comes time to sell a company.
Understanding a C-corp conversion can be difficult, but the tax advantages of making the change can be substantial. Use these tips to decide if a C-corp conversion makes sense and reduce your tax liability.
Ready to get started?
Ready to get started?
