Kiritsis & Associates
Probably, the main reason a business owner chooses S Corp election, is for lower taxes. Let's see, how that is so.
Lower self-employment taxes. By lowering the S Corp taxable income through a number of legal and tax maneuvers, as well as, passing more income to S Corp shareholders as distributions, rather than salary, S Corp could lower the self-employment tax.
Shifting tax liability to different years This could be done by making business decisions, which have sufficient economic substance (not merely, part of tax avoidance scheme), in a way that the S Corp taxable income would be greatest, when the shareholders have tax rates which are lower and/or possess offset tax losses that could be absorbed.
Shifting tax liability to different shareholders. S Corps could employee the services of shareholders, and pay salaries, based on time periods, that optimizes at the aggregate level, the lowest overall combined individual shareholder tax burden.
Shifting tax liability to different states. S Corps who have operations in many states, with one or more being in a lower tax state could try to organize their business operations, to have more of their S Corp taxable income, being taxed at the lower rate jurisdictions.
Qualified Subchapter S Corp Subsidiary (QSSS) A good way to lower taxes, by using a multitude of legal and tax maneuvers, such transfer pricing and creation of lack of marketability, just to name a few.
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
ATTORNEY ADVERTISING. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.
We hope you would find this website useful with regards to finding potentially relevant information for your legal issue. The Law Offices of Kiritsis & Associates PLLC is a boutique law Firm Group headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey. We strive to provide professional legal services for individuals and various business entities. Our clientele ranges from including aspiring entrepreneurs, startups to established business organizations.
We offer flat fee prices for many of the practice areas provided listed throughout our website. For more information on the topic you may be interested, or simply to find out how our law Firm Group can help, you may click at any of our site's links.
We are available for existing and potentially new clients 7 days a week -- via online, phone and/or in person.
Intellectual Property Disclaimer(s):
The materials available through this website and any other websites owned by John Kiritsis (individually and collectively, the "Website") are the property of John Kiritsis and his entities, and are protected by copyright, trademark and other intellectual property laws. You may not use, reproduce, download, store, post, broadcast, transmit, modify, sell or make available to the public content from the Website without the prior written approval of John Kiritsis. Be aware that any unauthorized use of John Kiritsis trademarks and copyrighted content for commercial purposes in violation of John Kiritsis's intellectual property rights will be vigorously enforced. All other trademarks, service marks and trade names referenced in this site are the property of John Kiritsis.