Paying Taxes Can Tax The Best Of Us: Difference between revisions
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Revision as of 15:32, 8 May 2026
Many small advertisers start with a sole proprietorship avoid the costs of forming a corporation or LLC. This can be a wise decision as statistics show that a majority of small businesses generate losses for the first several years.
If the $100,000 in a year's time person didn't contribute, he'd end up $720 more in his pocket. But, having contributed, he's got $1,000 more in his IRA and $280 - rather than $720 - in his pocket. So he's got $560 ($280+$1000 less $720) more to his person's name. Wow!
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