No, the business should be a separate taxable entity.
Yes, avoid double taxation and have the business income and deductions passed-through to the owners.
HELP --click here for an explanation of business entity taxation
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This page is designed and maintained by Ronald J. Cappuccio. © Copyright 2001 All Rights Reserved Ronald J. Cappuccio, J.D., LL.M.(Tax) Counsellor at Law (856) 665-2121