SET UP YOUR BUSINESS TODAY!!!
Any realtor, summer salesman, network marketer, insurance agent, or other independent contractor is wise who sets up a business entity for tax purposes. Independent Contractors pay additional self-employment taxes when they file as individuals. By having a LLC or S-Corporation setup, you can avoid these taxes. At JP2 we offer the consulting service of helping setting up these and other Utah business entities at a small portion of the cost that a CPA or attorney would normally charge.
Already Set up Your Utah Business Entity?If you have already set up your business it is important that you follow some important steps to act like a business. If you set up a S-Corporation it is important that you file the IRS form 2553 to designate your corporation as a “S”-Corporation. This form must be signed & filed by the individual in a timely manner!
After you have filed your 2553 download the JP2 getting started document to begin taking additional action.