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For each item, choose whether it is an Advantage or a Disadvantage when evaluating whether or not to elect S Corp status: 1. Income is

For each item, choose whether it is an Advantage or a Disadvantage when evaluating whether or not to elect S Corp status: 1. Income is taxed even though it is not distributed to the shareholders 2. No double taxation/ Basis rules are more restrictive 3. S Corp Income is not subject to Self-employment tax 4. Pass-thru losses can offset other income

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