My golf buddy told me that there are advantages from electing to be taxable as "S corporation." What is an "S corporation" and why would I want to operate my business as one?

At the present time, nearly all new small businesses that adopt a formal structure are organized as either a limited liability company ("LLC") or as an S corporation. This is because the other forms of doing business (e.g. A sole proprietorship, general partnership or limited partnership (with respect to the general partner) require "someone" to be liable for the debts and obligations of the entity. By comparison, with a LLC or corporation, the members (in the case of a LLC) or shareholders (in the case of a corporation) are liable only to the extent of their investment in the company.

Although a C corporation offers limited liability, the current income tax treatment of C corporations generally makes them unsuitable for use by start-up businesses, except for certain service businesses. The tax treatment for LLCs and S corporations provides for "pass-through" treatment of tax items, which generally benefits owners of businesses that may incur losses in the start-up years. There are ... more.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.