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Revision as of 01:27, 15 May 2026
After all the festivities, laughter, and gift giving for this holidays, giggles and grins quickly meld into groans and glowers as Income tax Preparation Season rears its ugly face. From January 15th until April 15th, Americans fuss and fume about our ever increasing income taxes. Nevertheless, in an odd sort of way, some must like the gloom since they'll file for an extension, prolonging the agony of the inevitable.
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If you add a C-Corporation as part of your business structure you can aid in eliminating your taxable income and therefore be qualified for a few of those deductions where your current income is too high. Remember, a C-Corporation is a individual taxpayer.
It's still ideal to get legal counsel during regular IRS recovery. Those who only get lawyers during serious Tax Problems are stretching their lucks too thin. After all, why should you wait for an IRS problem to happen before researching a professional who knows everything there is to know about overtax? Take the preventive approach and avoid problems making use of IRS altogether by letting professionals seek information taxes.
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Defenders of this IRS position would say it comes back to Section 61. The waitress provided a service for me, and I paid as it. Compensation for services is taxable. End of deal.
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