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Rental Properties

 

For federal tax purposes, S corporations are ordinary business corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders. An S corporation is a small business corporation. When forming your corporation, you can choose whether it will be taxed as an S corp or a C corps based on state laws. An S corporation is simply a regular corporation or other legal entity with a special tax classification. While this tax classification provides benefits to individual taxpayers on pass-through income, an S corporation is still subject to the same tax rules as a C corporation when it comes to property. This is especially true if a company is attempting to transfer ownership of a property.

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