Results 1 to 1 of 1
  1. #1
    Junior Member
    Join Date
    Jan 2020
    Posts
    6

    Advice Please: What are the tax benefits for incorporating my coffee business ??

    Hi There,

    I hope everyone here is OK. I'm looking for someone to clear some of my doubts. I don't know whether this is the right platform to ask this.
    I had started a coffee business as the sole owner of it. I have got a pretty much profit from it than I expected, and it really helped my business grow. But the problem is, at the same time, my tax rate also raised. I discussed with my friend, and he told me about incorporating my business as it provides tax benefits. I searched online and felt that the process is quite complicated, and I'm not confident enough to make a decision. Some doubts that I have is about the cost of incorporating my business. How much would it be? Are there any downsides to converting a business from a sole proprietorship to incorporation? Are there any special cases in incorporating a coffee business? Can someone share your views here? It would be helpful.

    Thanks!
    Last edited by PinkRose; 11-20-2020 at 06:35 AM.

 

 

Remove Ads

Sponsored Links

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Similar Threads

  1. Benefits Of Custom Mugs In Business Promotion
    By samsingh in forum Off Topic
    Replies: 1
    Last Post: 07-27-2018, 07:44 AM
  2. New coffee roasting business - seeking farmers market advice
    By almico in forum Coffee Industry Forum
    Replies: 18
    Last Post: 07-16-2017, 12:20 PM
  3. Advice for a New Coffee Roasting Business in S. California
    By KoffeCoffe in forum Coffee Industry Forum
    Replies: 1
    Last Post: 12-27-2012, 03:04 AM
  4. New to the coffee business in NC...looking for advice
    By JellyNCam28 in forum Coffee Industry Forum
    Replies: 3
    Last Post: 08-30-2010, 06:28 PM
  5. Advice about coffee business
    By lattegirl in forum Coffee Industry Forum
    Replies: 2
    Last Post: 01-24-2005, 02:23 PM