Corporate Attorneys Albert Lea MN

This page provides relevant content and local businesses that can help with your search for information on Corporate Attorneys. You will find informative articles about Corporate Attorneys, including "Costs And Benefits Of Incorporating Your Business". Below you will also find local businesses that may provide the products or services you are looking for. Please scroll down to find the local resources in Albert Lea, MN that can help answer your questions about Corporate Attorneys.

Holly Ann Wallace
(507) 373-1409
137 N Broadway, Po Box 1009
Albert Lea, MN
Specialties
Adoption, Child Custody, Contracts, Divorce, Estate Planning, Landlord & Tenant, Real Estate, Wills, Business, Litigation, Guardianship
Education
Hamline University School of Law,University of Wisconsin, Stevens Point
State Licensing
Minnesota, Wisconsin

Kent F Spellman
107 Lee Pl
Albert Lea, MN
Specialties
Litigation, Construction, Business, Personal Injury, Criminal Defense
Education
University of San Francisco School of Law,University of Minnesota, Twin Cities
State Licensing
Minnesota

Don A Johnson
(507) 373-2345
314 S BROADWAY AVE
ALBERT LEA, MN
Specialties
Business, Real Estate, Estate Planning
State Licensing
Minnesota

Bryan J Baudler
(507) 433-2393
108 N MAIN ST
AUSTIN, MN
Specialties
Litigation, Business, Estate Planning, Probate, Mediation
Education
University of Minnesota Law School,University of Minnesota, Twin Cities
State Licensing
Minnesota

David V Hoversten
(507) 433-3483
807 W OAKLAND AVE
AUSTIN, MN
Specialties
Estate Planning, State, Local And Municipal Law, Real Estate, Business, General Practice
Education
William Mitchell College of Law,Augsburg College
State Licensing
Minnesota

John T Hareid
(507) 373-2345
314 S BROADWAY AVE
ALBERT LEA, MN
Specialties
Business, Corporate, Real Estate
State Licensing
Minnesota

Phillip A Kohl Iii
(507) 373-2345
314 S BROADWAY AVE
ALBERT LEA, MN
Specialties
Personal Injury, Criminal Defense, Business, Family, Employment
State Licensing
Minnesota

Steven John Hovey
807 W Oakland
Austin, MN
Specialties
Employment, Personal Injury, Business, Litigation, Workers Compensation
Education
University of North Dakota School of Law,University of North Dakota
State Licensing
Minnesota

Craig W Johnson
(507) 433-3483
807 W OAKLAND AVE
AUSTIN, MN
Specialties
Real Estate, Business, Estate Planning, Corporate, Probate
Education
University of Minnesota Law School,University of Minnesota
State Licensing
Minnesota

Marvin Thomas Lenway
107 W Oakland Ave
Austin, MN
Specialties
Bankruptcy, Business, Estate Planning, Family, Personal Injury
Education
William Mitchell College of Law,University of Wisconsin, Stout
State Licensing
Minnesota

Costs And Benefits Of Incorporating Your Business

Long ago, when a person went into business, they risked losing their personal assets if the business failed. Then, along came the corporation, and things started looking up. There are advantages to most types of business structures, but incorporation tends to have the greatest advantages and protections for business owners.

By incorporating your business, you will be gaining protection from personal liability. If a business is incorporated, the corporation is responsible for all debts owed by the business. If the business is sued, the corporation is being sued - not the business owners. The business owners personal assets are protected by the corporation.

One of the most attractive benefits of incorporating is the tax savings. The tax savings you may realize are dependent upon the type of corporation you choose - C Corporation or S Corporation. Income shifting, where income is divided between the corporation and its shareholders in a manner that lowers taxes for both the shareholders and the corporation, is one of the potential tax advantages. Favorable tax treatment of fringe benefits is also possible, which allows incorporated businesses to deduct up to 100% of insurance premiums with the proper insurance plan.

There are also no limits or restrictions on the amount of capital losses that a corporation may carry back or forward to subsequent tax years. Further more, individuals may be able to realize tax savings by leasing their personally owned property, such as real estate or automobiles to the corporation. A business owner can also save money in self employment taxes. A business owner who does not incorporate his business (sole proprietorship) must pay self employment taxes on all profits, however, if the business is incorporated, the business owner will only owe self employment taxes on the amount that was actually paid to him, in the form of a salary. A tax professional will help you determine which type of corporation will give you the greatest benefits.

Ownership of a corporation is easily transferable is you decide to retire or get out of the business. Stock is simply transferred to other stock owners, heirs, or back to the corporation. A corporations life is not dependent upon the life of it's members. When a member dies or sells out, the corporation continues to exist and do business.

If your business is incorporated, operating capital can be raised more easily, by selling stock, and investors are e...

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