During more than two decades of working with small business people, clients have taught me a lot. They have succeeded for hundreds of different reasons. The ones that don't succeed make the same few mistakes time after time. This column is about some basic mistakes. During this tax season, more people than ever will walkinto accountants' offices wanting to claim the home-office deduction.
Corporations do the same thing.
Corporations, however, impose a double tax burden on owners. . . Texans invented LLPs in 1991. Since then, almost 40 states followed suit. New Mexico joined up in 1995. Here's what's going on.