Q: Can owner change her S-Corp to be taxed as C-corp so her income for support will be lower based on W2 only in divorce?
She is paying high alimony & child support now due to high income from W2 + K1( from business income reported on her tax return). Is it legal for her to change her S corp to C-corp so her future income from C corp will be far lower that is based on W2 only? Her company is growing and needs to reinvest all earnings. She has no plan to distribute the dividends from company.
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