• Skip to main content
  • Skip to primary sidebar
  • Small Business Kickstarter
    • Terms of Use
    • PRIVACY POLICY
    • DMCA
  • About Us – Small Business Kickstarter
    • How It Works
  • BUSINESS  AND PERSONAL FUNDING ALL TYPES
  • STARTUP BUSINESS FINANCING
  • BUSINESS STARTUP FUNDING
  • UNSECURED BUSINESS TERM LOAN FINANCING
  • BUILD YOUR BUSINESS FINANCIALLY
  • BUSINESS CREDIT FAST
    • OBTAIN CORPORATE CREDIT
  • START YOUR NEW FINANCIAL LIFE
  • SMALL BUSINESS TAX SHELTER
  • How To Start a Company
    • Best Business to Start
    • Your Business Plan
    • Selecting a Business Entity
    • Filing EIN With IRS
    • Business Entity Tax Consequences
    • Business or Hobby IRS View
    • Independent Contractor or Employee
    • Startup Business – Services Offered
  • How To Promote Your Business
    • Small Business In The Internet Age
    • Free Business Listings
    • Free Advertising Sources 2022
    • Mobile Optimized Website Design
    • Flash Built Website Not Good For Business
    • Email Marketing Solutions
    • Established Business – Services Offered
  • APPLY FOR LOAN ONLINE
  • Loans For Business
  • Business Info Resources
  • Bankruptcy Survival
    • BANKRUPTCY AFTER CORONAVIRUS PANDEMIC
  • Starting Over After COVID PANDEMIC
    • START YOUR NEW FINANCIAL LIFE
    • Work From Home With Affiliate Marketing
    • Make Money Fast With No Experience
    • How To Make Money Fast With No Experience
  • Business Survival In Age Of New World Order
  • Contact Us
  • Kickstarter Blog
  • Small Business News
  • How To Make Money Fast With No Experience

SMALL BUSINESS KICKSTARTER

HOW TO GROW A BUSINESS

You are here: Home / Business Entity Tax Consequences

Business Entity Tax Consequences

Business Entity Tax Consequences

Taxable Consequences of Each Business Entity

Kick Your Business Into High Gear With SMALL BUSINESS KICKSTARTER

Business Entity Tax ConsequencesBusiness Entity Tax Consequences

Caution !!!

We don’t want to dampen your enthusiasm – but, it’s far better to make preparations up front rather than suffer a catastrophic tax shock later on.

The IRS can be a vicious and hungry creature. This is especially true in an age when a huge government bureaucracy (not only Washington D.C. but the States and local municipalities) are desperate for your tax dollars.

So pay close attention to all of the following:

IRS Dangers

Sole Proprietor Tax Filing

A sole proprietor files a Schedule C in conjunction with the individual 1040 income tax return. Profits are taxed as ordinary income and losses reduce your taxable income.

See Sole Proprietor – IRS Website- Sole Proprietor

If your sole proprietorship earns $400 or more, you must also file Schedule SE

See Self-Employment Tax – IRS Website-Self-Employment Tax

The IRS Is Targeting The Sole Proprietor

Self EmployedAs of January 2010 the word is out that as a result of internal audits by the IRS, an annual revenue collection shortfall of $300 billion dollars per year has been found. The IRS believes that the shortfall is not coming from the large corporations but from the small businesses. The IRS is primarily targeting the sole proprietor — approximately 67% of all small businesses — who file taxes on a 1040 Schedule C return.

Is Your Small Business Operating as a Sole Proprietorship?

If this is you it would be wise to consider converting to one of the forms of corporate entity.

By IRS statistics, if you operate your business as a sole proprietorship, you are 300% more likely to be audited by the IRS, compared to a corporation or LLC.

Is Your Small Business Really Just A Hobby?

Beware IRSIf you are just starting a small business, home business, or perhaps an internet business, it is vitally important that you see the following information:

See Business or Hobby? – IRS View

Our thanks to our sister company Diversified Business Online for the preceding info.

How The Small Business Kickstarter Program Works

Many of our Custom Programs are designed for the small business on a tight budget. Instead of an upfront investment to get started, we partner with you and are compensated as we grow your business. We are results oriented.

We Focus On Your Success!!!

Want To Get Started Right Now?

Just tell us about your business in the contact form below (please be as detailed as possible), and we will contact you to set an appointment to discuss.

    Business Entity Tax Consequences

    Primary Sidebar

    Recent Posts

    • 12 Small Business Trends For 2022
    • Major Credit Score Changes Are Here
    • The Future In Small Business Lending
    • CARES Act Bankruptcy Update
    • Need Money Fast? Yes It Seems Too Good To Be True

    Archives

    • May 2022
    • August 2021
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • December 2018
    • November 2018
    • October 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • September 2017
    • December 2015
    • March 2014
    • February 2014
    • January 2014
    • December 2013
    Copyright [© 2014 — Small Biz Kickstarter • All rights reserved. • •] ·Magazine Pro - Genesis Framework by StudioPress - WordPress -