Tax Cuts and Jobs Act: S Corporation vs. C Corporation

Recent guidance by the IRS specifically addressed conversion of an S corporation to a C corporation, which has left a lot of business owners wondering if a change would be beneficial. The Tax Cuts and Jobs Act of 2017 (TCJA) lowered the top federal tax rate on a C Corporation from 35% to 21%. With all the feedback we have received, we feel this would need to be evaluated on a case by case basis; however, we wanted to provide some insight to address these options.

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