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This article explains How To Incorporate. Hard work, a good business acumen to spot opportunities and a little bit of luck are the key ingredients for success in business. Equally, there are many factors for failure that are out of one's control. Business structure determines the level of risk one is exposed to and is the ultimate facture for
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How To Incorporate Yourself Without a Lawyerby J. Stephen PopeYou could save hundreds of dollars by incorporatingyourself without a lawyer. How? Is it advisableto do so?1. This is Not Legal Advice!The only ones who should be giving legal advice arethose licensed to practise law (in other words,only lawyers). This article is not legal advice.If you need legal advice, consult a lawyer.This article is being written
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How to Save Taxes with an S Corporation Ever wondered why so many small businesses--more than 3,000,000 at last count--operate as an S corporation? Simple. An S corporation saves business owners big taxes in three separate ways: First, as compared to regular corporations (sometimes called C corporations), S corporation owners can use the business's losses incurred during the early lean years on the owner's personal returns as deductions. For example, suppose
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-"Why should I incorporate? I can just do this business as a sole proprietor, right?" -"Isn't it complicated and expensive to form a corporation?" -"I run my business with my spouse, and we have a partnership. Why would we need to have a corporation?" These have to be the most frequently asked questions that I--and my own financial and legal advisors--get from our clients. The vast majority of
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"S Corporation or LLC?" is a common question for new business owners. I have several people call me each week asking this. I always tell them the question is impossible to answer. And here's why. An LLC is chameleon for income tax purposes. Therefore, an LLC can be anything the owner or owners (who are called members) want the LLC to be--including an S corporation. An LLC with one owner, for
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