Choose the right business structure to lower your tax liability

05/1/2013 | Small Business Trends

If you are self-employed, you may be able to reduce your tax liability by structuring your business as an LLC or S Corporation, writes Nellie Akalp, CEO of CorpNet. Using these structures allows you to pay taxes for your business on your individual tax return. You will only have to pay Social Security taxes on the profits you pay yourself in the form of a salary, she writes.

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