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What exactly is an S Corporation, and how can it save your small business money on taxes? In this video, Nelly Akalp, CEO and Founder of CorpNet.com, breaks down everything you need to know about the S Corporation election.
While many think an "S Corp" is a type of business entity, it is actually a tax election that can be applied to a Corporation or LLC. Watch to learn how this status can help you avoid double taxation, reduce self-employment taxes, and gain credibility with clients and investors.
In this video, we cover:
- What is an S Corporation? (Subchapter S Tax Election)
- How to become an S Corp: Forming your entity and filing IRS Form 2553.
- Top 4 Benefits: Tax savings, pass-through taxation, credibility, and audit protection.
- Who Qualifies? Requirements for shareholders, stock classes, and residency.
- When should you switch? (Income thresholds and profitability).



