S corp or C corp, which one is a better selection if only consider for tax saving?

[kwyp]

S corp, tax rate based on indivual tax rate up to 37%, S corp has QBI 20% deduction, which can reduce its tax rate lower. But you have to distribute all your retained earnings as distribution through K1. 

C corp, tax rate is 21% flat rate, C Corp is not eligible for QBI. However, you can keep the profit as retained earning with the business. You are not necessary to pay double tax if the profis does not distribute to you through K-1. 

Also, If you own a C corp over 5 years, no capital gain tax if it is sold. But if you sell a S corp, you have to pay capital gain. 

Based on these factors, which one is a better choice for tax saving for a business owner?

Are there any other factors to be included for this comparsion?

[qbteachmt]

"But you have to distribute all your retained earnings as distribution through K1."

There is no Have To Distribute condition. It is a pass-through entity type, so all taxable income for the S Corp is reported through to the shareholders every year. That has nothing to do with distributions. Heck, you could even be distributing funds from multiple prior years, in just one year, and that has no impact on taxes, since the funds being distributed have been reported all along.

Have you read the other topic you already have running, here:

https://accountants.intuit.com/community/proconnect-tax-discussions/discussion/re-is-it-allowed-that...

And you have posted your questions under various software forum subgroups. This one is for using Lacerte. Your other one is for using ProConnect. These forums are for "how to use" the programs. It helps to ask questions about specific software in that software's specific forum.

There is a subforum for Tax Talk, too.

But what you won't find here is Educational Resources. No one here can teach you how to "do" a tax return. You need to find resources outside of a software users' group, and keep up with changing regulations and current rules. I know you've been provided with resource links for DIY.

"Are there any other factors to be included for this comparsion?"

Probably at least 30. This is why not everything is DIY. Perhaps you want to find a mentor in your area who will have you work for them while reviewing with you the specifics of all the questions you have.

[Strongsilence-CPA]

Great post by @qbteachmt and I would nominate it for best of the year if such an award existed.

[abctax55]

I'm going to ask....  ARE you a tax preparer or has school started already?

[qbteachmt]

"or has school started already"

Oh, good mind reading. Usually they are more word problem and don't include clearcut (and erroneous) statements. Could be, though. Or, someone trying to learn via online? And not using any of the specific software here.