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Maybe you thought it would be too time-consuming, too much hassle, too much paperwork: forms, forms and more forms! And now you're back where you started, wondering (again), "Is it worth it? Are the advantages of incorporating really worth it?" Or maybe you have incorporated your small business but are wondering, "Did I make the right choice of entity?" (In case you didn't know, there are 3 (yup, three) different types of corporations, and each one is taxed very differently!) So even if you already formed a corporation, how do you know you picked the one that enables you to pay the least amount of tax? Perhaps this story will help you decide.
After all, who looks at his neighbor's garbage all the time? Tom reached up to his visor, and pushed the square button on the garage door opener.
The last thing he saw as the door moved toward the concrete floor, was the pile of trash.
* * * * * A Tale of Two Small Business Owners: Why Some Self-Employed People Pay Thousands Less In Taxes Than Others As Tom pulled into his driveway, he was annoyed at himself.
She was just getting home herself.
He pushed the door opener again as he climbed out of the car, and couldn't help but glance out toward the neighbor's house.
It's just that if anyone knew what he was doing, he would really be embarrassed.
He found himself doing it again, and he didn't like it.
"Hi, Babe," said Tom as he kissed her on the cheek.
She still had her raincoat on, as she was leafing through the mail.
He took his coat off and as he was throwing it on the back of the barstool he asked, "You know, I'....
He pulled the car in and had to navigate to get the car in without hitting his wife's car or the bikes that were sloppily thrown in.
Yet, he seemed compelled to do it anyway.
Maybe you thought it would cost too much to incorporate: lawyer fees, filing fees, and the like.
He opened the door to the house, and was greeted by Becky.
He was lost in thought as the garage door slowly moved up.