Capital One

The most common types of corporations are C-corps (double taxed) and S-corps (not double taxed).

Advantages of a corporation include personal liability protection, business security and continuity, and easier access to capital.

Disadvantages of a corporation include it being time-consuming and subject to double taxation, as well as having rigid formalities and protocols to follow.

This article is for entrepreneurs who are trying to determine their business structure and whether a corporation makes sense for them.

Your income is capped. You’re only paid the salary that you agreed on when you accepted the job. If your idea results in a massive windfall for the company, you get none of it.

You have to take orders from a boss. If you had your own company, you would make all the decisions.