How to Save Thousands with an S Corporation
Ever wondered why more than three million business owners and entrepreneurs operate their firms as S corporations? Because they save thousands annually in taxes. Want to know how to get your fair share of these tax savings? Read tax professor and CPA Stephen L. Nelson’s down-to-earth explanation of how an S corporation saves business owners money.
Starting A Business: Sole Proprietor Or Corporation?
When starting a business, it is important to consider the potential tax and legal issues. Most people choose a “sole proprietor” as their business type when starting out. Starting your business as a sole proprietor does not require any special paperwork from the IRS.
Which is exactly why most people start out this way. Being a sole proprietor means that you and the business are one and the same.
According to the IRS:
“A sole proprietorship is an unincorporated busi…
Four Dumbest S Corporation Setup Mistakes
S corporations can save you thousands of dollars a year in corporate and payroll taxes. But for heaven’s sake, don’t make these common mistakes says CPA and tax professor Stephen L. Nelson.