DORFMONT[at]aol.com wrote:
- quote -

Ahah! And MY spreadsheet does it for C corp, S corp vs
schedule c. And I MAy charge somewhere around a hundred or
so. Two different practices in two different parts of the
country though united by our common membership in CSA.

AlTHOUGH, I must add that my "CSA" stands for something
quite different, relating to the Southern Way of Life.

ChEAr$,
Harlan Lunsford, EA n LA and GA
Sat, 8 Jan 2005

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<robert1111[at]starcenter.com> wrote:

- quote -

I would think that most store bought tax programs will allow
you to do that. Fill in all the data as sole proprietor.
Copy this to a second return and change the appropriate
numbers and you'd have two different returns.

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robert1111[at]starcenter.com wrote:

- quote -

I have a spread sheet that does this for a C Corp vs. Sch.
C. You have to enter the data twice - once for each
treatment. They are very different. And I charge $250 to do
it for someone who is not a current client because it takes
me about 2 - 3 hours of analysis to prepare it. I don't
think you would get a very accurate comparison with just
straight software.

Linda Dorfmont E.A., CFP, CSA

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robert1111[at]starcenter.com wrote:

- quote -

Well.... to do this, you must make certain assumptions about
the character of "profits", namely how much would be S
corporation salary versus how much not. This impacts amount
of SE tax on the proprietorship return versus S corp. Plus
you need to consider other facts, e.g. state umemployment
taxes and federal umemployment taxes, AND extra amounts due
state for having a corporate form of business.

therefore, the answer is "nope." No software will do that.

Better to seek local competent tax professional help to
assess the differences in tax burdens. Look for a PA,
CPA, or EA in your area.'

Oh, btw, it's too late to even consider having been an S
corporation this late in the game.

(note to CPA's on the board: I try to vary the ordering of
tax pros in my responses. (grin)

ChEAr$,
Harlan Lunsford, EA n LA
Thu, 6 Jan 2005

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<robert1111[at]starcenter.com> wrote

- quote -

No.

--
Paul A. Thomas, CPA
Athens, Georgia

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Hello,

I have a sole proprietorship business. I would like to
compare my tax liability for 2004 income:

1. if I file as a sole proprietorship
2. if I file as a corporation or s-corporaration.

Is there a tax program that will show me the comparison
between these two, wherein I only have to enter my data
once?

Thank you.

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