Corporate Attorneys Hilo HI
Vaughn G.T. Cook
120 Pauahi St Ste 312
Business, Tax, Immigration
Diana L. Van De Car
101 Aupuni Street, Suite 238
Scott William Settle
700 Bishop St Ste 200
Business, Employment, Intellectual Property, International Law, Real Estate
Univ of San Diego SOL,Univ of California Berkeley
P.O. Box 700964
Law School : Drake University
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Robert B. Wales
68-1025 North Kaniku, Unit 320
Raymond K. Hasegawa
688 Kinoole Street, Suite 203
Darl C. Gleed
75-5995 KUAKINI HWY., STE. 432
KAILUA KONA, HI
Business, Estate Planning, Real Estate, Probate
University of Seattle School of Law
University of Washington
Julie Rae Smolinski
1099 Alakea St Ste 1800
Stanford Univ Law School,Wellesley Coll
Philmund Wun Ming Lee
2440 Campus Rd # 333
Business, Estate Planning
U of San Francisco SOL,California St Univ Long Beach
California, Hawaii, Massachusetts
Walter Anton Berhalter
3057 Poipu Rd Apt 4
Bankruptcy, Corporate, Estate Planning, General Practice, Lawsuits & Disputes
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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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