“I learned why as a sole proprietor it’s better to convert your business into a corporation, as well as important information needed in order to not be in bad terms with the IRS.”
Los Angeles, CA (Vocus/PRWEB) February 15, 2011
Every year tax season wakens interest amongst the growing Hispanic community, as was proven in the record number of attendance to the first SuSociodeNegocios.com breakfast seminar of 2011.
Carlos Marquez, president and founder of Tri Tax and a respected figure within Latinos for his lectures and segments on W690 radio, served as guest speaker to the El Clasificado presented event which took place on February 9th, 2011.
According to the 33 year-old entrepreneur, paying high taxes is a good sign because it proves a business is fruitful. Marquez candidly assured the 150 Hispanic small business owners in attendance that it is best to pay what is due and not try to cheat the government because “at the end problems will arise”.
He explained why small business owners should file as corporations instead of sole proprietors. He highlighted the statistics showing that in 70 percent of the cases, those that file as sole proprietor are audited while corporations are less likely to be audited by the IRS. To expedite the process of incorporation, Marquez recommended using online services where for roughly $200 and in only 15 days, microbusiness owners can convert their business into a corporation.
The tax expert also suggested that owners should document any service they pay themselves. Marquez assured that by doing so they will be able to prove their income at the time of filing their taxes or should the IRS request more proof of income.
The presentation given by Marquez sparked interest in small business owners such as Leticia Ochoa, who stated that the information provided was useful and interesting. “It got me wanting to convert my business into a corporation because of the advantages that Marquez mentioned”, she said. Adolfo Contreras, a San Bernardino resident involved in the selling of organic juices, declared that 90% of what was presented was practical. “I learned why as a sole proprietor it’s better to convert your business into a corporation, as well as important information needed in order to not be in bad terms with the IRS.” Contreras adds that the entire experience was incredible and that he hopes that “El Clasificado continues producing events such as these”. With these types of testimonials and a record number of attendees the first Su Socio de Negocios business breakfast seminar of 2011 proved a huge success.
The event, held at the corporate offices of El Clasificado, was sponsored by Verizon Wireless, Kaiser Permanente and SBDC.
“Su Socio de Negocios” is a series of business breakfasts and expos in Spanish language, which El Clasificado began to offer in 2006. El Clasificado is a Hispanic multiplatform media company that provides a marketplace for Spanish speaking Latinos in grassroots communities. With over 37,000 online classified ads, 4.5 million monthly page views and over 200,000 unique visitors, ElClasificado.com is the leading online classifieds portal connecting buyers and sellers in the U.S. Latino market. El Clasificado print is a verified publication with a weekly circulation of 410,000 and is distributed to more than 250 cities in Los Angeles, Orange, Riverside, San Bernardino, San Diego, Ventura and Kern Counties.