1. Are the tax benefits the same as an S-corp or are there additional benefits from a tax standpoint with a PC over an S- Corp?
2. Like a C corp, does the PC have to declare itself an S-corp for tax purposes? ... and are there other options at tax time? I will be a single share holder / owner.
3. The link you sent me to says that health insurance premiums are fully deductible for employees. I believe that I would be an employee of the corp, therefore my own health ins premiums would be deductible? for PC and/or S-corp?
4. Likewise, it said that life ins premiums may be deductible. I have a whole life policy, would the premiums be deductible? ...for PC and/or S corp?
5. With the whole life policy, does it depend on who is the beneficiary or the owner of the policy for its premiums to be deductible?
6. With an S-corp, the shareholder may take 60% income from corp as an employee with FICA?FUTA tax, and 40% as dividends which are not subject to FICA/FUTA. Is this the same for PC?
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