A Business of One

By Saturday, November 10, 2007 0 No tags Permalink 0

If your operating as a business of one then take caution. A single person S corporation lets you take wages from your revenue. But the IRS is taking a closer looks are business that operate as S Corporations. You can claim some of your profit as wages and some as dividends. Your wages can be taxed but you take less wages and more dividends you can save more on your taxes. But take caution cause the IRS is watching this and taking note. So while operation as a business of one is cool at first you should always be looking to expand. The GreasyGuide.com does not operate a by itself. We have at least 4 people working to make this site better and we will soon be adding a marketing arm to the business launching in 2008.

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