I believe you still have to file the tax returns which costs money. I think your best bet Michael is an LLC. All you need to do is pay the annual state company report fee ($100 in NH). Since you are a sole proprietor your profit, or loss in this case, is claimed against your personal tax return. No need to file two returns.
Duane -----Original Message----- From: Hatton Humphrey [mailto:[EMAIL PROTECTED]] Sent: Wednesday, January 29, 2003 3:28 PM To: CF-Community Subject: Re: Business types? I thought that if a business was a net loss you didn't have to pay taxes on it. Then again, I'm no tax specialist either. Hatton Michael Dinowitz wrote: >OK, this is a sticky one. >House of Fusion exists as a corporate entity (S corp) but its income is $0. Its >expenses are a lot more than the income and its existence is basically a cash >drain. The question is, what other corporate or non-corporate entities exist >that we can hold House of Fusion under without having to pay out corporate >taxes? > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Archives: http://www.houseoffusion.com/cf_lists/index.cfm?forumid=5 Subscription: http://www.houseoffusion.com/cf_lists/index.cfm?method=subscribe&forumid=5 Signup for the Fusion Authority news alert and keep up with the latest news in ColdFusion and related topics. http://www.fusionauthority.com/signup.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
