Silly Income Tax Errors

Ok I did grow up with Income Taxes all around me, but I don’t think that makes me biased when I have a sore spot for simple income tax errors that result in tremendous problems. There is one simple rule when dealing with the government: DO NOT MAKE MISTAKES! They are very hard to correct, and they often look like a cover-up to something else going on.

A Delaware Corporation – What’s so great?

Well I wouldn’t call a Delaware Corporation “great” but I would say that they are the best corporate havens that we have in the US. Your first answer when you ask people, “why Delaware” is that they are a corporate tax shelter. Which isn’t really true. Although there is no corporate income tax in the state of Delaware, they have one of the heaviest franchise taxes in the US. It costs more to form a corporation there, and even charges a fee to determine whether a fee is owed against a corporation.