The conversation between human and AI assistant.
What are the best ways to save corporate income tax incurred in the U.S.?
Interesting. Can you explain the difference in tax treatment between traditional corporations and LLCs/S corporations?
Certainly. Traditional corporations are subject to double taxation, where both the corporation and its shareholders are taxed on profits. LLCs and S corporations, on the other hand, are considered "pass-through" entities, where profits are only taxed once at the shareholder level, leading to potential tax savings.