Incorporation Tax and Filing Myths

Yesterday, SoftBaugh posted a new article on its blog, “Should I Incorporate?” That article generated some lively feedback, much of which was based on misunderstandings about the nature of business taxes and filing requirements. Today, a new SoftBaugh blog article, Incorporation Tax And Filing Myths, addresses those concerns, and pokes holes in the demand-creation strategy by many CPAs who attempt to scare or confuse people into using their services. In a world where individuals are increasingly using TurboTax and the like for their personal returns, and BigCo has its own auditors on staff, CPAs find themselves fighting over a dwindling small business account pie, and will pull out any trick in the book to keep that business. Unfortunately, some of those scare tactics become self-perpetuating, where people repeat the nightmares to each other until they become real.

Is starting your own business the right move? Each man must answer that for himself. If you are retired, or need to have a cubicle or timeclock job, perhaps because Obamacare has you chained there, then starting your own business may simply provide too much risk (and yet, there is side opportunity for you also). But, for those who do choose to start their own businesses, we are convinced that you must have a detailed understanding of all aspects of that business, even the portions you delegate to others, including taxes and other regulatory requirements. Once you take that responsibility upon yourself, you’ll find that incorporation isn’t really that difficult, and provides many advantages.

There is no doubt that we are living in a new economy, where insane regulations, economic challenges and legal risks are around every corner. Many of us, including me, may fail in this hazardous environment, while in past years, we may have thrived. That is the world we are in. And yet, running your own business is the only real path to true freedom. For those of you who have been following our Leech City work, is there any doubt that if I were a remote employee of BigCo, that the local leeches wouldn’t have already attempted to have me fired in retaliation? Or at least threaten my job to silence me? A decade ago in Atlanta, while organizing a form of a neighborhood watch against pedophiles, one leftist apologist tried to get me to fire myself for my insensitivity. I declined.

Another favorite tactic is to have someone arrested, or threaten to do so, to make them look bad on the job or affect their productivity. Regular readers may recall that I had ridiculous criminal allegations made against me here last year. Fortunately for the guilty parties, cooler heads prevailed, preventing them from the exposure of a false arrest. However, if I had been arrested, it wouldn’t have cost me my job or resulted in a bad review. At worst, this adverse allegation is a stain that can affect a future security clearance or other background check, but that will get cleaned up in due time after some other issues are handled first. Running your own small business simply makes you more resilient in the face of such tactics.

The new economy we are in is best condensed by commenter King on a recent Chateau Heartiste article:

The managerial revolution of the 20th century is over. Office dynamics are going away. Technology has allowed us to escape the unnatural abomination of the superstate (and its echo, corporate superstructures) and return to the more naturally occurring feudalism of entrepreneurship. The strongest men are creating independent manorial fiefdoms in the economy, the weaker will sign on as serfs, and the intermediaries will be journeymen artisans. The more perceptive thinkers on the alt-right grasp this idea as a reaction to the problem of “scale.”

On a more general level, all men will become free agents. (They terk er jerbs.) Those who can handle their freedom with self-discipline will create the enterprises which betamales will sign on to. These nimble and efficient units will destroy the Scale behemoths who no longer can monopolize a market through legislative lobbying and undercutting prices.

Hence the instincts of the alt-right to rebel not just against cultural correctness but also “wage cuckoldry.”

Nicely put. Hence the “wolf-packs” I’ve been writing about from time to time, and the advice I have been giving on this site and in my books since about 2009 to help people prepare for this new world.

If you are ready to rebel against wage cuckoldry, then we’re going to supply you the tools. Don’t let fear, uncertainty and doubt (FUD) take you off track if that is the right path for you. Become informed, and make an objective, calm decision about what you need to do.

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