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Revision as of 01:39, 8 October 2026

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The most frequent form of legal entity is this provider. There are two basic forms, C Corp and S Corp. A C Corp pays tax based on its profit for 4 seasons and then any dividends paid to shareholders additionally be taxed. Hence the term double-taxation. An S Corp however works differently. The S Corp pays no tax on profits. The net profit flows by means of the shareholders who then pay tax on that money. The big difference extra that the 15.3% self-employment tax doesn't apply.

So, by forming an S Corporation, small business saves $3,060 for the year just passed on revenue of $20,000. The income tax still applies, but I am sure someone would rather pay $1,099 than $4,159. That is a big savings. The increased foreign earned income exclusion, increased tax bracket income levels, and continuation of Bush era lower tax rates are all good news for all American expats. Tax rules for expats are complex.

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