“To incorporate or not to incorporate: that is the question.”
Running a business can be overwhelming, especially when it comes to matters such as incorporation. Because Shakespeare is no longer available, and not a tax professional, we would be happy to discuss these issues with you.
With the new tax bill in effect now, we’d like to bring the topic of incorporating to your attention because it could potentially save you lots of money on your taxes. Did we catch your attention? We thought so. Now that we have your attention, we are going to give you a list of reasons you should incorporate or elect S-Corporation status this year (2018) if you are an LLC or a Sole Proprietorship.
- Up to 20% of business-related income may be deducted on a personal tax return, but unreimbursed employee expenses are no longer deductible on a personal tax return
- Reduce or eliminate self-employment tax
- Contribute more to retirement plans
- Corporate returns are less likely to be examined by the IRS than personal returns
Give us a call today at (813) 514-8273 to schedule an appointment with one of our tax professionals.