Tax laws for 2009 are already changing and that means you need to be careful how you file your 2008 tax return. Should you take income in 2008 or 2009? Should you claim an expense now or wait a year? Nothing is certain this year!
Plus, the IRS is on a heightened attack against taxpayers. How you file you return can determine how likely you are to get audited.
On February 20, 2009, I’m going to do an evening tax seminar in San Diego, CA just on this subject: Before You File: Last Minute Tips for Business Owners and Investors. You can combine it with my Saturday morning seminar (February 21, 2009) “Understanding Financial Statements for Everyday People” for total of just $69. Find out more at: http://www.taxloopholes.com/index.php?s=stldetail&id=331
February 12th, 2009 at 8:36 am
I operate a insurance bussiness from home. I have operated it as a sole proprietor for about two years. I have only operated it part time but want to put in more hours this year(full-time). I don’t know if it would be better as a s corp or llc.I have no one for tax purposes. Prepared own return this year. I need help!
February 12th, 2009 at 9:17 am
In general, an LLC electing S Corp status can be the best bet. Please come over and visit my other website http://www.TaxLoopholes.com. There is a forum over there that is pretty active with business owners and investors posting. Plus a bunch of us from DKTaxServices team post there and answer questions. The first 30 days are free and you can cancel anytime after that.
And congratulations on your business! Small businesses are the lifeblood of our economy.