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Article Date:
September 2013


Word Count:
1441

 

 

Escape the Lobster Trap of Corporate Tax


Corporate taxation has been famously compared to a lobster trap: “easy to enter… and painful to get out of.”1

 

Are you in the C corporation lobster trap?

 

Are you looking to get out of that C corporation and operate as a proprietorship?

 

Converting your C corporation into a sole proprietorship can be costly. Why? Because tax law makes you pay tax both as a corporation and as a shareholder.

 

In this guide, we lay out the taxes you can expect to pay when you switch to a proprietorship (or single member LLC that’s taxed as a proprietorship). We show you some techniques to reduce those taxes. When finished, you can see if getting out of that C corporation lobster trap is the right income tax choice for your business.

 

Choose your own tax treatment

 

As the owner of a business, you have a surprising amount of control as to ... Log in to view full article.

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