Which Form 1120 C Compensation 2023-2024

Divide this text into sentences and correct mistakes: Hi mark color here with another two-minute tax and legal tip. Now I'm going to try to keep this to two minutes, but it's a big topic - this C corporation. When do we use the C corporation? They're sold to us all the time on radio ads and TV ads, and apparently, the next best thing to sliced bread because all the Fortune 500 companies have one and you should do well. What's the truth? Now, the first benefit of a C corporation is basic, and you all know it - it's asset protection. I get the benefit of the corporate veil, as it's called, and if you are acting responsibly as a business owner, you are protected if anything goes wrong in the business. Pacini, you are protected. And I've got other videos on my YouTube channel as to how to protect the corporate veil - watch them now. An important point here is that the C corporation corporate veil is the same as an S corporation or an LLC. If anything goes wrong in the business, you are protected. That's the point, so don't think the C Corp has any better protection than any one of those entities, but it is a benefit of incorporating. The second main benefit of a C corporation and why you hear ads that all the Fortune 500 companies are C corporations is because they can have multiple shareholders, thousands of shareholders. They can raise capital by getting shareholders to give the corporation money, and by giving the corporation money, the corporation can expand and go public or get big and deliver their product or service nationwide or worldwide. That's why these big companies are C corporations, but it may not be the best for you as a...