If there are no benefits from owning a small business, then why are so many doing it?
Given I own two small businesses, and yes, it is a job of responsibilities and it is hard to not be there.  However, Paggs, here are the benefits of small business (and I know all my small business friends take the same deductions)
- deduction for my expenses related to all personal use for home computers, cell phones, LAN line, meals, office supplies (for the house), vehicle expenses (gas, repairs, insurance, and CCA), and maybe even some travel costs, and professional development (dentists and doctors always end up at conferences on cruise ships, how does that work?)
- income sprinkling to kids and spouses
- no EI contributions (although I pay double CPP)
- flexibility of hours
- free goods, all the air mile points I want by buying supplies on VISA
- BTW, my teacher brother-in-law pays 11% of his income out of his pocket for his pension, so no, it's not free.  
OK, enough dirty little secrets