Guest guest Posted December 30, 2001 Report Share Posted December 30, 2001 At 03:55 PM 12/30/01 +0000, you wrote: > My accounted said the >paperwork would be incredible if I incorporated or set up a limited >partnership, or such. Hardly worth the effort for a business I work for >free for (someday I'll make money!). lol The problem with continuing as a sole proprietorship is the time that your business takes off and finally makes money... remember that as the business grows, things like inventory also grow... and last year, because I was a sole proprietor for most of the year, the business's income, and the increase in inventory over the year before were taxed at 37.5%...had I incorporated a year earlier, they would have been taxed at 15%. that's a BIG difference. Your source for superb Essential Oils, Aromatherapy Accessories, Information, Books and more! Visit us at: <http://www.naturesgift.com> Quote Link to comment Share on other sites More sharing options...
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