In this week’s show I talk about my business goals for 2010, Nexus One and I answer a question from Andrew about Business Entities (your business firewall). Below you will find links to some of the business resources I mention in the podcast.
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Disclaimer: I am not a lawyer or an accountant and so you cannot take the information in the podcast or shownotes as legal or tax advice. Consult with a tax attorney and/or CPA for professional advice.
Show Notes
Business Entities
For tax purposes the IRS treats profits from business in terms of a C or an S corporation regardless of the business entity you are using (caveats apply here, talk to your accountant). S-Corporations are “pass-through” entities and profits (and losses) are treated as personal income tax that includes an additional “self-employement” tax (15%). S-Corporations are limited to smaller enterprises (100 shareholders at most). C-Corporations are larger and profits are potentially taxed twice: when the corporation makes a profit and when a shareholder recieves a dividend (how business owners get paid).
Stuff You Should Do For Sure
Resources That May Help You
Disclaimer: Some of these resources are affiliate partners of mine which means that Mobile App Mastery will get a small commission if you buy their product. I do not select books or services based on commissions but I do use affiliate links for products that I think will be helpful already.
Incorporate and Grow Rich!
Click here to learn more about Incorporate and Grow Rich!
Internet Business Mastery Academy
Click here to learn more about Internet Business Mastery Academy
The Informed Investor
Click here to learn more about The Informed Investor
Legal Zoom
Click here to learn more about Legal Zoom
Kindle DX
Click here to learn more about Kindle DX
Rich Dad Poor Dad
Click here to learn more about Rich Dad Poor Dad
Four Hour Work Week
Click here to learn more about The Four Hour Work Week
Crush It!
Click here to learn more about Crush It!
