Perspective on Business

Battersby, Mark E.
June 1993
Stained Glass: Quarterly of the Stained Glass Association of Ame;Summer93, Vol. 88 Issue 2, p134
The article discusses the reasons why many stained glass professionals have chosen to be treated as a 'S' corporation for income tax purposes. It says that having 'S' corporate status enables many stained glass business entities to avoid the penalties for accumulating within the business as well as avoiding the double-taxation earnings. Under the tax rules for 'S' corporation, the income of a stained glass business entity is passed on to the income tax returns of the shareholders, reduced by their shares of the deductions, losses and credits to arrive at taxable income, the income that is taxed at the personal tax rates of the stakeholders.


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