QUESTION
Does incorporating a start up offer tax breaks? How?
Asked on May 15th, 2015 on Taxation - Michigan
More details to this question:
Seriously thinking about incorporating a small business start up. What kind of tax breaks can we expect if we do so?
2 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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The main tax break a corporation has over a sole proprietorship is larger pension plan deductions. The main reason to incorporate isn't tax advantages, it's the protection of your personal assets from liability for the acts of your employees.
Answered on May 18th, 2015 at 4:40 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Breaks? Expect to pay taxes and be subject to regulations and law whether incorporated or not. Incorporation is for your protection. You are welcome to call and engage Musilli Brennan Associates PLLC to potentially represent you.
Answered on May 18th, 2015 at 4:27 AM