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Small Business Owners & Self Employment


  • Deducting home office expenses
  • Hiring your first employee

    As a sole proprietor, you handle all business matters--from producing and marketing your goods or services to fixing paper jams in the copier. Your business has grown and now you're stretched too thin. Business is being lost because you just can't do it all yourself. It's time to consider hiring your first employee.

  • Incorporating your business

    Before deciding to incorporate, you should seek legal and tax advice on what type of ownership best suits your business. Other forms of ownership may offer your company the advantages of incorporation (such as limited liability), but also offer more management flexibility or tax advantages.

  • Tax planning for the self-employed

    Self-employment is the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your accountant. If you're self-employed, you'll need to pay your own FICA taxes and take charge of your own retirement plan, among other things. Here are some planning tips.