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What are the benefits of a C-Corp?
- Write off medical insurance premiums, medical costs, and Co-pays by utilizing and Hha (irs form letter 502 outlines the laundry list of writeoffs)
- Writeoff on-going education (seminars, conferences, etc.)
- For people making more than $132,000 each year, all income over $132,000 is channeled to C corp by a consulting fee charged by the C corp to the S corp. The income is taxed at 21%, and the remainder is loaned to the client on a 30 year note. Any money generated by the c corp is off set by expenses to keep it tax neutral on that front.