g. e. smith - As we’ve mentioned, the biggest draw of an **S Corp** is the tax advantages. The ability to avoid double taxation is massive. In a C Corp, the profits are taxed at the corporate level, and then again when distributed to shareholders as dividends. With an S Corp, the profits and losses are “passed through” to the owners' personal income, and the company itself doesn't pay federal income taxes. The owners report their share of the profits or losses on their personal income tax returns. But the real tax magic happens when it comes to self-employment taxes. As an owner-employee, you pay yourself a reasonable salary, and you pay self-employment taxes on that salary. Any additional profits you take as distributions are generally *not* subject to self-employment tax. This can lead to substantial tax savings, especially if your business is generating significant profits.
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However, the phrase itself has also been linked to **Buddhist teachings**. Buddhism places a strong emphasis on mindfulness and living in the present moment, and the core message of the quote aligns perfectly with these principles. The concept of impermanence, a central tenet of Buddhist philosophy, highlights the fleeting nature of time and the importance of appreciating each moment. The past is gone, the future is uncertain, and only the present is real. This resonates deeply with the quote’s message. Thinkers and teachers within Buddhism have long emphasized the importance of being present, of focusing on the “now” as the only moment we truly have. This philosophical alignment suggests a possible, though not definitively proven, root of the quote within this ancient tradition. The emphasis on mindfulness and the transient nature of existence in Buddhism provides a fertile ground for the quote’s message to take root and flourish.
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