Corporate Attorneys Kokomo IN
Thomas J. Trauring
515 West Sycamore Street, P.O. Box 958
Alan D. Wilson
515 West Sycamore Street, P.O. Box 958
Colleen Marie Powers
1 AMERICAN SQ
Business, Health Care, Tax
Indiana University School of Law,Pennsylvania State University
Lora Nowzaradan Barkes
5246 Hohman Avenue Fifth Floor
Business, Real Estate, Personal Injury
Jeffrey Brooks Harding
701 S Clinton St # 316
Fort Wayne, IN
Business, Real Estate, Corporate, Litigation, Estate Planning
James B. McIntyre
116 North Main Street, P.O. Box 1047
135 North Pennsylvania Street, Suite 1100
Mergers & Acquisitions, Estate Planning, Corporate, Real Estate
Indiana University,Indiana University School of Law,Certified Public Accountant, Indiana
Michael Gerard Naville
506 State St, PO Box 1343
New Albany, IN
Litigation, Adoption, Land Use & Zoning, Business, Guardianship
Louis D. Brandeis School of Law at the University of Louisville,Hanover College,Indiana University
Kipling Campbell White
P.O. Box 1010
Bankruptcy, Banking, Litigation, Business
Indiana University School of Law, Bloomington,Purdue University,Purdue University
Michael Thomas Batt
1 AMERICAN SQ STE 2000
Business, Health Care, Public Finance, Corporate
Indiana University School of Law, Indianapolis,University of Evansville
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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