Examlex
Mark's history professor thinks Mark is always listening to lectures because he makes eye contact, nods, and smiles. In reality, Mark is catching up with friends on Instagram. The professor doesn't realize that Mark is a(n)
LLC's
Stands for Limited Liability Companies, a business structure in the U.S. that offers personal liability protection to its owners but can be taxed as a partnership.
S Corporations
A special designation of corporation that allows income to be taxed only at the shareholder level, avoiding double taxation.
Flow-Through Entities
Entities through which income flows to the owners or investors, avoiding corporate income tax.
Schedule E
A tax form used to report income and losses from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs.
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