Maximize benefit with low project income in year 1 I am forming my own consulting company working from home this year. I am suggested to use sole proprietorship as a struction. I got one client now and will be paid roughly $36,000 a year. The company is very close to where I live and I only go in when needed. The problem is that I have other income which put in the 45% and higher tax bucket to start with. Should I buy a car for this company? and I am thinking to set up an office at home and buy some office furniture, add internet, and home phone. Of corse, I will look for other opportunities as well. Any suggestions as things to do so I can get legitment tax benefit from this income? Thanks |