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Corporations and LLCs can take advantage of tax savings options that are not available to sole proprietorships or partnerships. For example, corporations can establish pension, profit-sharing and stock ownership plans, which can lower the corporation's taxable income. Medical, life and disability insurance premiums are also completely tax deductible for corporations. In addition, a corporation can own shares of stock in another corporation and receive 80 percent of the dividends tax-free.
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Entrepreneur Magazine's Starting Your Own Business guide makes it easy to find the information you need to start any type of business. This comprehensive guide gives you practical, easy-to-follow advice, written in plain English, from industry experts and fellow entrepreneurs for every aspect of the startup process. It's all here, from what licenses you need and where to find financing to how to evaluate your ideas and conduct market research, and much, much more.
This fact-filled guide also includes checklists, sample forms and work sheets to help you get organized and crystallize your ideas.It's like having your own personal startup expert to answer your questions every step of the way. Order Starting Your Own Business today, and start on the path to business success!
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