Tax considerations are a critical part of organizing a business. The cost of operating a business, from setup fees to legal expenses, can ultimately be dwarfed by the effect that taxes have on how much money a freelancer gets to pocket. This chapter introduces some basic concepts about business taxation. Tax is a large and byzantine topic, one that is mostly beyond the scope of this book. The goal of this chapter is to touch upon some basic topics that might factor into your decision about how to structure your business, so you can do further research on areas of particular relevance to your situation. Readers should note that as this book was going to press Congress was debating significant changes to the way business income ...
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