Recently while sitting at the gate waiting for a plane, I overhead a couple of guys talking about starting a business. The “know-it-all” in the duo explained to his buddy why they shouldn’t set up a corporation for their new venture. “You’ll have to pay double tax, and you only need it if you are going into a risky type business,” he said.
It was all I could do to bite my tongue and keep my mouth shut. Talk about bad advice! The guy was ill-informed and certainly not equipped to give advice. But as they say: You get what you pay for.
I understand the last thing most people want to spend money on when they start a business is highly paid professionals. So instead of consulting with an attorney or CPA about the complexities of starting a business, they forge ahead.







