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The Advanced Management World

Posted by: sshyam1903 on 03/11/2016 10:27 AM

Within this point is the assumption that you are running a business at home. Your home expenses would be partially deductible, leading to less tax paid. If you run your business from another location, you will incur more expenses, and the tax situation may be better or worse depending on the net effect of your revenue and expenses. The third point of clarification is that there are different tax rules between being a contractor and a small business. Lastly, the type of business is important. It is fairly simple to be a sole proprietor, but to incorporate involves different costs and commitments. Yes, the corporate tax rate is generally lower than for individuals. However, corporations take more time to operate, have setup costs, legal costs and reporting costs that sole proprietors don't have. Corporations would also have separate HST numbers which is another layer of record keeping over and above that of a sole proprietor. Keep in mind that complexity in general involves more time and effort as well. To incorporate for legal reasons or strategic reasons is a whole other matter. Professionals should be consulted before considering forming a corporation.

When the fire first started, someone rang the city desk of the World on Park Row. The man, who didn't identify himself, told the newspaper editor that he was in his office at 137th Street and he could see the burning boat from his office window. The editor immediately contacted Eugene Moran, who owned a tugboat company at 134th Street. Moran told the editor that he had no tugboats available in that area, but that it would be faster anyway to send his men by elevated train from the Park Row station to the Morris Park station in the north Bronx. The editor ordered his men onto the train, and as a result, the World had the story of the tragedy before any other New York City newspaper.

Topic: Example Topic 1


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