To be on not to be... an S corporation

摘要

Areader, joe, who had a mammoth tax problem (both income tax and estate tax) called me. I listened. Both problems would be solved easily by electing S corporation status. Joe agreed. On the other hand, his accountant, a fine CPA, was a bit hesitant, but sent a wonderful 15-item list of "Pros" and "Cons." Following are the important items on the list, plus a few of my own. My comments are shown in italics.