A lot of self-employed individuals get upset around tax time when their accountants tell them they owe an extra 15.3% in tax. It can be a bit of a gut punch to those just expecting to pay income tax. Unfortunately, income tax does not cover FICA—Social Security and Medicare. An employee generally splits those taxes with […]
Welcome back for the second installment. Only the fun stuff from here on out. Corporations Corporations are the granddaddy of modern entities. They are often villianized, but extremely useful. Every state has its own body of corporate law. Some tend to strongly favor shareholders, while some give more latitude to directors and officers. Many large […]