Are you in the US? If so, Sub "S" Corps don't pay any taxes but do have to file a separate return. All taxes are taxed at the business owners tax rate and this, like a LLC, shields the owner for liabilities. Our cookie business is a "S" corp.
Andy -----Original Message----- From: William H. Bowen [mailto:[EMAIL PROTECTED]] Sent: Wednesday, January 29, 2003 3:16 PM To: CF-Community Subject: Re: Business types? Consult a tax attorney!!! I have a friend who's been self employed for 20+ years (never worked as someone else's employee) and any time I0 asked a question about taxes or filing (while I was self employed), he'd caveat everything he told me with "consult a tax attorney" One thing he did mention, though was that certain types of businesses may be considered hobbies by the Feds after a number of years operating at a loss. Won't speculate on which ones exactly...consult a tax attorney. ^_^ will ---- William H. Bowen Webmaster ALSTOM's T&D Energy Automation & Information Business "Your friendly neighborhood Webmaster!" [EMAIL PROTECTED] http://www.esca.com/ 425.739.3629 Voice 425.466.7016 Cell 425.739.3690 FAX ----- Original Message ----- From: "Michael Dinowitz" <[EMAIL PROTECTED]> To: "CF-Community" <[EMAIL PROTECTED]> Sent: Wednesday, January 29, 2003 12:21 PM Subject: Business types? > 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? > > Michael Dinowitz > Master of the House of Fusion > http://www.houseoffusion.com > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| 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
