Dave Ramsey is a bright guy who gives a lot of great advice about budgeting and personal finance, but he’s not a tax expert. Recently I heard a caller ask him whether he should incorporate and Dave made an incorrect statement regarding corporate taxes. Whether to incorporate your business is a question for your local Enrolled Agent or other competent tax professional and/or your business attorney.
Yes they are and here’s an example. In the Swiggart case just decided in the US Tax Court, the IRS was required to pay reasonable attorneys fees for taxpayer’s lawyer because they failed to follow the Internal Revenue Code in failing to abate a penalty related to a math error. It’s a small victory but I always enjoy a good story where the taxpayer wins.