Should you Incorporate Your Small Business?

Author: External Author | | Categories: Accounting Firm , Bookkeeper , Bookkeeping Services , Corporate Tax Services , Financial Statement Preparation , Income Tax Preparation , Personal Tax Services , Small Business Accounting , Tax Accountant , Tax Planning , Tax Services

When a business is started, it can be structured as a proprietorship, partnership, or corporation.

A sole proprietorship is one person operating a business, without forming a corporation.  The income of the business is then taxed in the hands of the owner (the proprietor), at personal income tax rates.  The income is considered income from self-employment, and is included on the personal income tax return of the owner.

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Article Written By: NA

Original Article Posted on: October 15, 2021

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