Corporate Attorneys Bangor ME

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 Bangor, ME that can help answer your questions about Corporate Attorneys.

Thomas E. Needham
(207) 947-6915
PO Box 919, 23 Water St.
Bangor, ME
Specialties
Business, Real Estate, Probate, Estate Planning
Education
Boston University School of Law,Bowdoin College
State Licensing
Maine

Daniel G. McKay
(207) 947-0111
PO Box 1210
Bangor, ME
Specialties
Corporate, Mergers & Acquisitions, Banking, Securities Offerings, Health Care
Education
Boston University School of Law,Princeton University
State Licensing
Maine

Joseph M. Pickering
-79474
293 State Street
Bangor, ME
Specialties
Litigation, Real Estate, Business, Family, Criminal Defense
Education
University of Maine School of Law,McGill University
State Licensing
Maine

Thomas M. Brown
(207) 947-0111
PO Box 1210
Bangor, ME
Specialties
Corporate, Bankruptcy, Litigation
Education
Boston University School of Law,Bates College
State Licensing
Maine

Nathan J. Martell
(207) 947-0111
PO Box 1210
Bangor, ME
Specialties
Corporate, Bankruptcy, Business
Education
University of Maine School of Law,St Joseph's College
State Licensing
Maine

Jeffrey W. Spaulding
(207) 947-0111
80 Exchange Street, PO Box 1210
Bangor, ME
Specialties
Corporate, Mergers & Acquisitions, Venture Capital, Securities Offerings
Education
New England School of Law,Gordon College
State Licensing
Maine

Allison Carrier Lucy
(207) 947-0111
PO Box 1210
Bangor, ME
Specialties
Business, Mergers & Acquisitions, Securities Offerings
Education
University of Maine School of Law,University of Vermont
State Licensing
Maine

Michael B. Trainor
(207) 947-0111
PO Box 1210
Bangor, ME
Specialties
State, Local And Municipal Law, Corporate, Securities Offerings
Education
Boston University School of Law,University of Maine School of Law,College of the Holy Cross
State Licensing
Maine

Edward C. Spaight
(207) 947-6915
PO Box 919, 23 Water St.
Bangor, ME
Specialties
Family, Business
Education
Western New England College School of Law,Siena College
State Licensing
Maine

John F. Loyd Jr.
(207) 947-0111
Fleet Center-Exchange Street, P.O. Box 1210
Bangor, ME
 

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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