
Do you know the way your company is structured it is going
to have a great imp-act on the taxation? For example, if you are the sole owner
of your business then you are taxed individually. However, if you won a
corporation then the profits gets taxed
and finally the dividends which are paid to the shareholders.
·
Single
Ownership
In a single ownership, the owner and the company is the same
person. It is the responsibility of the business owner to pay the estimated tax
quarterly to the federal and local governments. Tax preparation for the
individual owners is relatively easy and the tax rates are lower.
·
Limited
Venture
Limited...