This means the corporation pays income tax at the ... best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box ...

That's because an S corporation has some appealing tax benefits and still provides business ... Consult an attorney in your state to determine the rules that apply to your business.

Here's an example: Say you're married, bought your home in 1995, have a tax basis of $250,000, and are selling the home for $650,000. The entire $400,000 gain is tax-free. Let's now take the same ...