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Old 12-23-2005, 02:45 AM
manpower manpower is offline
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Join Date: Mar 2004
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Default Re: Declaring Yourself a Corporation for Tax Purposes

[ QUOTE ]
arent you going to pay double taxes as a corp? the income is taxed at the corp level, then taxed when you withdrawal it from the corp as personal income, etc.

[/ QUOTE ]
No, sub-chapter S corporations and limited liability corps (ie, most small businesses) generally allow the owner to avoid double taxation. That said, I don't see how you'd hope to take any sort of tax advantage by incorporating yourself. Tell me if I'm missing something.
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