Protein is an essential nutrient used to build and maintain lean body mass, maintain current muscle mass and to provide fuel for our bodies. Dietary protein can come from many sources, including red meat, chicken, fish, nuts and vegetables including beans. Other sources of protein can include cheese, milk and yogurt.
S Corporations have the same basic advantages and disadvantages of general or close corporation with the added benefit of the S Corporation special tax provisions. When a standard corporation (general, close or professional) makes a profit, it pays a federal corporate income tax on the profit.
S Corporations. S corporations are corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. This allows S corporations to avoid double taxation on the corporate income. S corporations are responsible for tax on certain built-in gains and passive income at the entity level. To qualify for S corporation status, the corporation must meet the following requirements: Be a domestic corporation; Have only allowable shareholders