Introduction by ebook's author:
I spent over $5,000 last year on accountants, advisors, lawyers, and financial planners. None of them explained as clearly as you did the value of a corporation, and the specific tax advantages (in dollars) of forming one. I recommend this book to anyone operating as a sole-proprietor. After reading it, you’ll understand how to save several thousand dollars a year minimum on your taxes, and you’ll discover how to protect yourself from audits and lawsuits.
And what can you do to protect yourself from the onslaught of frivolous, time-consuming and potentially business-ending lawsuits that clutter our court systems today?
And now you’re back where you started, wondering (again), “Is it worth it? Are the advantages of incorporating really worth it?”
Or maybe you have incorporated your small business but are wondering, “Did I make the right choice of entity?” (In case you didn’t know, there are 3 (yup, three) different types of corporations, and each one is taxed very differently!)
So even if you already formed a corporation, how do you know you picked the one that enables you to pay the least amount of tax?
You begin by focusing on the one small business tax reduction strategy that stands head and shoulders above all the rest: Incorporate your small business.
Yes, not all corporations are created equal! There are 3 entities that provide limited liability. Which one should you be?
4. How to use a corporation to legally reduce your employment taxes by 40% or more. Sole Proprietors and Partnerships often pay twice as much employment taxes as Corporation owners. After reading my ebook, you’ll know how to use a corporation to legally reduce your employment taxes by thousands — each and every year!
I know there are tax-reduction products sold online and offline for hundreds of dollars. (There is a market for every price-point, ya know.)
At least once a week I receive an email like this: “Dear Wayne: I just started a business and I’m wondering whether I should incorporate. How do I know which business entity type is best for me? Please advise.”
My answer is always the same disclaimer-laden response: “It all depends.” It depends on a long list of factors that must be reviewed by an experienced tax professional.
That’s what the Choice of Entity Analysis will do for you. I’ll review the details of your particular situation and give you an in-depth answer to the Choice of Entity question. I’ll tell you which legal entity results in the greatest tax savings, and I’ll explain to you the whole process of making the switch from one entity to another (if a switch is advisable).
Believe me, making a change in your Choice of Entity ain’t nearly as painful and costly as Uncle Fred (or some other well-intentioned, self-proclaimed “tax expert”) may have told you. In fact, forming a corporation, or changing from one type of corporation to another, will usually result in tax savings that far exceed any out-of-pocket cost.
In fact, I’ve worked with hundreds of small business owners who “made the switch” from one entity to another, and the end result was always the same: the tax savings was so great that, in effect, there was no out-of-pocket expense. Uncle Sam paid the bill to get the corporation going, and the taxpayer ended up paying thousands of… Read more…
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