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Subject:  Re: sole-proprietorship Date:  10/1/2000  9:34 PM
Author:  sameally Number:  1935 of 15032

Hi Corey
You may wish to look at becoming a Sub-S Corporation in which some of these profits could come over to you without employment taxes (Social Security and Medicare). With the rate being 15.3% on just $10,000 you may be able to keep $1,530 or on $20,000 $3,060 if the Sub-S is properly placed. The reason I bring this up is your age, at 27 you may get to use this invest $$'s for 40 years. A trip to your accountant is worth the few bucks.
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