Tax Benefits of S-Corporation: How Does a S-Corp Save Taxes?
LyfeAccounting
FEBRUARY 9, 2021
Speaking of losses, if your S-Corp loses money, those losses are then deductible on your personal income returns. As an example, if you are the sole owner of an S-Corp, and the business suffered a loss of $10,000, you would be able to take a $10,000 deduction on your tax return , meaning the loss can offset any other income that you received.
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