Corporate Attorneys Lewiston ID

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 Lewiston, ID that can help answer your questions about Corporate Attorneys.

Eric Karl Peterson
(208) 743-6538
Po Box 1510
Lewiston, ID
Specialties
Business, Elder Law, Guardianship, Land Use & Zoning
State Licensing
Washington

Rube G. Junes
(208) 743-9516
Po Box 285
Lewiston, ID
Specialties
Business, Construction, Litigation
State Licensing
Oregon, Washington

Theodore O Creason
(208) 743-1516
1219 Idaho St, Po Box 835
Lewiston, ID
Specialties
Business, Corporate, Land Use & Zoning, Litigation
State Licensing
Washington

David Allan Gittins
(509) 758-2501
843 7th St
Clarkston, WA
Specialties
Mediation, Business, Estate Planning, Elder Law, Health Care, Real Estate, Probate, Personal Injury
State Licensing
Washington

Steve R. Cox
(208) 743-1234
1106 Idaho Street, P.O. Box 446
Lewiston, ID
 
Denton P. Andrews
(208) 743-8200
111 Main St Ste 177
Lewiston, ID
Specialties
Bankruptcy, Debt Collection, Business, Criminal Defense, Employment, Workers Compensation, Estate Planning, Personal Injury, Litigation
State Licensing
Washington

Christopher J. Moore
(208) 743-1516
1219 Idaho St, Po Box 835
Lewiston, ID
Specialties
Tax, Estate Planning, Elder Law, Business
Education
University of Idaho College of Law,University of Idaho
State Licensing
Idaho, Washington

Edwin L Litteneker
(208) 746-0344
322 Main St
Lewiston, ID
Specialties
Business, Family, Administrative Law, Lawsuits & Disputes
State Licensing
Washington

Tod D. Geidl
(208) 743-1516
Lewiston Professional Building, 1219 Idaho Street, Drawer 835
Lewiston, ID
 
David R. Risley
(208) 743-1234
1106 Idaho Street, P.O. Box 446
Lewiston, ID
 

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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