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Author: rd1019 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121169  
Subject: subchapter s Date: 8/14/1999 11:25 PM
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As a farmer with business set up as sole propritor I keep getting nailed with a big tax bill since as a farmer I pay no quarterly est.tax. I've been told that I should incorporate as a subchapter s corp. since I pay almost twice as much self employment tax as income tax.(21,000 vs 12,000). Is this a wise thing mto do and what are some advantages. Also what happens if I do this in the last half of a year? Is it treated as two different returns?
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