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https://wcginc.com/kb/trapped-assets/
Trapped Assets in Your S Corp - S Corp Disadvantages - WCG CPAs & Advisors
As the only shareholder of an S Corp, you think that everything the business owns you also personally own. You might have trapped assets.
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https://wcginc.com/kb/chapter-4-introduction/
S Corp Disadvantages - Chapter 4 Introduction - WCG CPAs & Advisors
There are some S Corp disadvantages. Increased tax preparation fees, 401k limits, trapped assets, rigid owner distributions, among others.
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https://wcginc.com/kb/social-security-basis/
Social Security Basis - S Corp Disadvantages - WCG CPAs & Advisors
K-1 income from your S Corp is not subjected to self-employment taxes and therefore will not count towards your Social Security basis.
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