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Revision as of 20:10, 14 August 2026

Many small business owners start with a sole proprietorship to the costs of forming a corporation or LLC. This may be a wise decision as statistics show that a majority of small businesses throw money away for the first several years.

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In 2003 the JGTRRA, or Jobs and Growth Tax Relief Reconciliation Act, was passed, expanding the 10% tax bracket and accelerating some within the changes passed in the 2001 EGTRRA.

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