PERILS OF AN S CORPORATION

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August 1, 1988

(MONEY Magazine) – In connection with ''When It Can Pay to Self-Incorporate'' ((May)), be aware that anyone who owns 2% or more of an S corporation's stock cannot receive ! benefits -- such as a health plan or life insurance -- tax-free. This can be a substantial disadvantage for a small business. Jim Sigmund, C.L.U. New York Life Insurance Co. Columbus, Ga.

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