Okay, back to our task, calculating your tax savings. This is quite easy to do. Get a list of the items you're allowed to deduct because you own a business that you wouldn't be allowed to deduct if you didn't.

For example, your tax preparation is fully deductible through a business. Your truck is significantly or completely deductible where it wouldn't be deductible if you were employed by someone else. Work down the list and add them all up.

Now you know your tax savings.

Do the Rewards Outweigh The Risks? They'd better! If not, redesign your business so that they do.

Ron Roberts, The Contractor's Business Coach, teaches contractors how to turn their business into a profit spewing machine. To receive Ron's FREE Contractor Best Practices Newsletter visit www.FilthyRichContractor.com.