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Understanding Tax Laws in Europe and USA - Entrepreneurs and Co: Business Development News for Entrepreneurs & Consultants
http://www.entrepreneurs-and-co.com/articles/222/1/Understanding-Tax-Laws-in-Europe-and-USA---Entrepreneurs-and-Co-Business-Development-News-for-Entrepreneurs-amp-Consultants/Page1.html
Grant Beeming

"Who are we ?"

Company Profile :


Entrepreneurs and CO Ltd

145-157 St John Street - London EC1V 4PY

Chartered Accountants & Business Advisers, at Entrepreneurs & Co (ENC), we appreciate the value of working together as a team.

Because the flow of ideas is encouraged at ENC and everyone feels free to express their opinion with regard to work related matters it has by the very nature of being, created a dynamic work environment. As a team we all recognise our responsibility in making Entrepreneurs and Co what it is.

The reputation of the whole firm is in the hands of each individual and we are proud of being part of such a strong team. Together we encourage and motivate each other in a dynamic environment so that as a team we can provide innovative and profitable solutions for individuals and businesses.


Services

Every client is unique and deserves a unique service. Our philosophy is to put our clients first - to understand their situation and provide a first class service tailored to their specific needs.

Because we establish a one-to-one relationship with each client we are able to offer timely, individual advice on how to improve your business or personal finances.

As leading edge accountants we have developed the traditional bookkeeping, auditing, and accounting services into innovative client-focused services that provide not only all the reliable background support you would expect from a professional firm but also forward-thinking advice on how to improve your situation.

We have also developed a new range of accounting services to meet the needs of modern businesses, including a comprehensive business advisory service. Whether you need help with growing your business or advice on optimising your personal or family finances, we are here to help you get the best results.

 
By Grant Beeming
Published on 20/10/2008
 
Develop a working understanding of tax law in half an hour and have the tools you need to start your business !

One of the major points many overlook in starting a business...

One of the major points many overlook in starting a business from their home is the type of entity they create, determining a tax strategy and how important it is to choose the correct ones. You don't always have to start out in the perfect entity but you should have a plan to migrate to it as soon as possible or as soon as the funds become available.

This is important because there is a major difference in the way entities are taxed. If you are filling your taxes under your personal social security number, you will be filling a separate schedule C on your 1040. If you have created a separate entity (Corporation) you will file a completely separate filing.

So what is the difference? Lots, One is legislated so that someone else (Governing Body) determines what you can or can not deduct and the other is not. A corporation's by-laws and business plan determines what is deductible or not, and that makes a huge difference.

Tomorrow focus on Europe...