Are you a sole proprietor? Did you know that you can change your business entity type to an LLC (whether you are a single member owned or multi-member owned) and reap the benefits of significant tax savings?  Each state has different rules for incorporating, but the entity setup for the IRSis the same regardless of where you incorporate.  If you are a sole proprietorship, changing to an LLC will change your taxes from paying double the employee rate (2014 rate is 15.3%) to pass through taxation (no double taxation).  This will significantly change what you owe or get back.  Next time you are contemplating an entity type change, consider an LLC. It will be a good choice.

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