Incorporating your business is a great way to reduce your taxes. If you are currently operating your business as a sole proprietor, you are paying the highest tax rate possible. The profit you have from your business is subject to regular income tax plus an additional 15% of self employment tax. Setting up an S-Corporation is a great option for most business owners to help reduce the burden of self employment tax. Just pay yourself a reasonable salary (as an employee of your corporation) and the rest of your profit from your business does not get hit with additional 15% of self employment tax. Fast Tax Services provides incorporating services to help you save on taxes right away. Business & Corporate Setup
Incorporate your business and save on taxes!
Posted by Billy Greff on May 22nd, 2011, under Latest News