When to make the switch from Sole Proprietor to Corporation
by Richard Phillips, Window Shopper
- Created: July 1, 2014, 4:57 pm
- Updated: July 1, 2014, 5:01 pm
After many years, I still am a sole proprietor with a Federal Tax ID. I am really not a fan of paying over 15% in self employment tax and was wondering what would be a good profit level to switch my company over to a corporation to save on taxes? My business is currently based in California. Should I incorporate within the state or move the business to a more "friendlier" corporation state?
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