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"S" Corporation or Sole Proprietorship

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O

olelady49

Guest
I recently retired and have benefits from my previous job. I am working part-time doing clerical work. Since I am not interested in benefits, would it be a tax advantage for me to form an "s" corporation or sole proprietorship -- I am interested in saving taxes and want to know if I can deduct mileage and any further education courses I might want to takevy doing either of these--please advise if this could be beneficial and approximately how much it would cost to do either. Thank you.
 


L

LawLady

Guest
If you engage in a trade or business as a sole proprietor you can take the appropriate expenses off your taxes on Schedule C.

A Sub S is another approach, but after you get done paying the filing and accounting fees, the advanatages may be all gone.
 

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