Saturday, January 23, 2010

What tax breaks and benefits can I get by incorporating a barber shop?

If you are hoping for a tax break, don't bother.





A c-corporation pays taxes and if it issues dividends, you pay taxes twice. Plus you have to issue yourself a W-2, file an 1120, etc.What tax breaks and benefits can I get by incorporating a barber shop?
Consult a Tax attorney before you act. There can be advantages and disadvantages, and an experienced attorney can help you maximize the advantages while minimizing the disadvantages.

No comments:

Post a Comment