Place Your Title Here

Corporation

One of the big drawbacks of a C corporation is that it is double taxed, i.e., the profits of the corporation are taxed, and then after the profits are distributed to you as a shareholder, they are taxed again. That hurts. Some owners get around paying all or most of the profits to themselves as salaries. If the salaries are reasonable, that is legal, but that is a red flag that the IRS looks at very closely.

This is a brief overview of some key elements of Umbrella Liability coverage. It is not intended to be a comprehensive analysis, you should always read your policy for complete descriptions of coverage's and limits as well as conditions and exclusions and ask your agent if you have any questions.