Kiritsis & Associates
For all its faults, a sole proprietorship possesses a number of tax advantages, over other ways to carry a business.
1. Pass-through taxation. This may be an understatement! A sole proprietorship is a mere extension of the individual who is running the business.
2. Self-employment taxes as forced retirement savings. Sole proprietors have pay self-employment and withhold taxes, from their profits of running their sole proprietorships. This constant tax burden during the life cycle of the sole proprietorship, could benefit taxpayer in the long run, by provided him with retirement benefits, in the form of Social Security retirement benefits.
3. Taking advantage of IRA tax deduction. One of the requirement of taking IRA contribution deductions, is working and getting paid, which easily met by sole proprietors. The IRA contribution deduction, not only saves taxes, but, it can act as additional retirement saving mechanism.
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
ATTORNEY ADVERTISING. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.
We hope you would find this website useful with regards to finding potentially relevant information for your legal issue. The Law Offices of Kiritsis & Associates PLLC is a boutique law Firm Group headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey. We strive to provide professional legal services for individuals and various business entities. Our clientele ranges from including aspiring entrepreneurs, startups to established business organizations.
We offer flat fee prices for many of the practice areas provided listed throughout our website. For more information on the topic you may be interested, or simply to find out how our law Firm Group can help, you may click at any of our site's links.
We are available for existing and potentially new clients 7 days a week -- via online, phone and/or in person.
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