Video: Introduction to Tax Treatment of Corporations

In this lesson, explore the key characteristics and tax implications of C-Corporations with Nick Palazzolo, CPA, who brings a touch of humor to the serious subject of double taxation. Nick breaks down how profits of C-Corporations face taxes at both the corporate and shareholder levels, but despite this, there are significant advantages, such as limited shareholder liability. The lesson delves into the separation of legal identity between shareholders and the corporation, highlighting the protection from personal asset seizure in case of corporate debt issues. Nick's engaging explanation clarifies the pros and cons of operating as a C-Corporation, complementing the information covered in the previously discussed business structures lesson.