O'Reilly logo

Lower Your Taxes - BIG TIME! 2015 Edition: Wealth Building, Tax Reduction Secrets from an IRS Insider, 6th Edition by Sandy Botkin

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

9

Finding the Best Corporate Entity for Your Business

The beginning is the most important part of the work.

—Plato, The Republic

What was true for Plato 2,500 years ago still holds true today. What determines how much you can use in fringe benefits and losses, not to mention how much you can limit liabilities and how easily you can raise capital, is your business entity. It’s thus crucial that you read over this chapter carefully and follow along on the flowchart (Figure 9-1). Moreover, even if an entity is great for you now, you may wish to change it as time goes by. For example, you may want to start off as a sole proprietor but later raise more capital and incorporate. Thus you will need to keep track of your “proper” business entity on a ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required