Exxon Mobil announced recently the highest annual profits by a US corpo­ration in history. Reaction was predictable — the US Congress was littered with outraged politi­cians calling for a windfall profits tax. But that would be wrong, and the Tax Foundation can explain why much better than I: While they were recording record profits last year, […]

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A small business usually starts out as a sole propri­etorship, owned and operated by the founder personally and reporting business income on their annual personal tax return. But as the business grows, the question of incor­po­ration will always arise, and there are several factors to consider when this happens. The most important single factor, in […]

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