Question

what is the major disadvantage to filing as a corporation? otherwise, it may take more effort to start and close the business, but corporations are the safest filing status. unlimited liability, aka, they can take your car or home to cover debts double taxation no structure informal

Explanation:

Corporations face double - taxation. Earnings are taxed at the corporate level and then again when distributed as dividends to shareholders. Shareholders have limited liability, corporations have a defined structure and are formal entities.

Answer:

double taxation