Advantages and Disadvantages of a Sole Proprietorship
A sole proprietorship is the simplest and most common structure chosen to start a business. It is an unincorporated business owned and run by one individual with no distinction between…
What can you deduct as a Business Expenses?
Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business operates to make a profit. Note: If you do not…
How Corporations Are Taxed
Corporations are taxed differently than other business structures: A corporation is the only type of business that must pay its own income taxes on profits. In contrast, partnerships, sole proprietorships,…
Everything about Corporations are here!
A corporation is a legal entity created by individuals, stockholders, or shareholders, with the purpose of operating for profit. Corporations are allowed to enter into contracts, sue and be sued,…