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    3 Replies Latest reply on May 29, 2009 12:49 AM by Barkri12

    Why Incorporate!

    rouldph Newbie

      Their are a lot of reason to incorporate your business and benefit from doing so, every year business
      get incorporated to get tax cuts and protect their personal and property. The best way to find
      out more is to search the type corporation that will benefit you down the road.

      Did you know !
      LLC's typically do not pay taxes at business level. Any business income or loss is "passed-through"
      to the owners and reported on the owners personal income tax returns. Any tax due is then paid at
      the individual level.

      The limited Liability Company (LLC), is a business entity that offers limited liability protection and
      pass-through taxation. An LLC can be managed by either the member or by managers.

      Advantages of a limited Liability Company LLC's allow for pass-through taxation members on an
      LLC are not typically held personally responsible for debts and liabilities of the business LLC's
      generally have no ownership restrictions LLC members have flexibility in structuring the management
      of the company. An LLC dose not require as much annual paperwork, or have as many formalities,as
      a C corporation or an S corporation.

      Written consent of LLC members must be obtained prior to increasing ownership in the company.
      Potential customers may perceive an LLC as a more professional entity than a sole proprietorship
      or partnership.
      More Info Go to http://stiltechco.com Look under how to incorporate side bar!!

      What do you think?
        • Re: Why Incorporate!
          vegascorps Newbie
          When starting a business, the very first thing you should do is Incorporate so that you have the Corporate shield to protect you from your business liabilities from the very beginning. Mort mistakes occur when the business is just starting, due to lack of experience. The best type of Corporation is usually a "C" Corp, since it is not a pass-through entity like the LLC or the "S" Corp, and it has more tax advantages, if used properly. Also, since it is a "stand-alone" entity, it can offer you more protection. The best state to register your Corporation in, is Nevada, and you can have a Nevada Corporation no matter what state you reside in.
          The State of Nevada has no Corporate income tax, no personal income tax, no tax on Corporate shares, and no franchise tax. In addition, stock holders are PRIVATE in Nevada, and only one person is required to be involved in the Corporation. Also, Nevada is the only state that does not share information with the IRS about its' Corporate citizens. Many of the wealthy elite in America use Nevada Corporations such as: Michael Jackson, Madonna, Kevin Costner, Diane Keaton, Ross Perot, DONALD TRUMP & ROBERT KIYOSAKI.
          Contact us for more information: Asset Management Services at: vegascorps@yahoo.com
          • Re: Why Incorporate!
            LUCKIEST Guide
            Why Incorporate, Two good posts from Chuck (rouldph) and vegas

            A "C" Corp is a legal separate entity having its own rights, privileges and liabilities. It is the MOST complex form of business and is comprised of shareholders, directors and officers.
            Corps can own assets, borrow money and perform business. Corp earnings are subject to "double taxation", and have the advantage of limited liability.

            Then there are "S" Corps, "LLCs" and "LLPs:.
            Talk to both tour Lawyer and Accountant for professional advice what is right for you.

            LUCKIEST
            • Re: Why Incorporate!
              Barkri12 Wayfarer
              The primary benefit of incorporating is to protect your personal assets from potential liabilities that could occur in your business. Without the protection provided by a corporation, creditors or other claimants of your business can attach personal assets including garnishment of personal salary, attachment of personal bank accounts, attachment of your home in most states, and seizure of other personal assets.That's why incorporate is important.