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Revision as of 03:52, 13 September 2026
Many small small business owners start with a sole proprietorship stay away from the costs of forming a corporation or LLC. This is a wise decision as statistics show that most small businesses generate losses for the first several years. Obtaining a tax-deduction allows your contribution to be subtracted out of the taxable income. A cheaper taxable income means you pay less income tax in the year you assist your Ira.
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