Hi - one more point that really pushed me to form a c corp - accounting / tax prep. At least around here, it is difficult to find a tax guy that really can do a good job of dealing with both personal and business mixed tax prep. It can be done, but it is expensive.
When I split my business off as a real entity, it was much easier to find a reasonably priced accountant / tax prep guy for the business taxes, and my personal taxes became so simple I could just do them myself.
One more hidden benefit about having a company, you can designate when your tax year ends. I suggest making it end either at the end of calendar Q2 or Q3, because it is a lot easier to get real tax / accountant help then rather than in March / April during the rush, and you can more easily plan how your business vs personal taxes will come out. |