Corporate Attorneys Parkersburg WV
James Scott Huggins
424 2ND ST
Tax, Estate Planning, Business, Health Care
Ohio State University, Columbus,Ohio State University, Columbus,Ohio State University, Columbus
Khadine Letendre Ritter
424 2ND ST
Litigation, Business, Bankruptcy, Debt Collection
Case Western Reserve University School of Law,Drake University,Drake University
William A. Fields
Suite 300, Bank One Building, 125 Putnam Street, P.O. Box 710
Matthew Scott Casto
1600 Laidley Tower, P.O. Box 553
Litigation, Commercial, Appeals
Christopher Kenneth Robertson
Po Box 1068
Employment, Employee Benefits, Commercial
Jerry Arleth Brock
424 2ND ST
Tax, Estate Planning, Employment, Business, Health Care
Ohio University,University of Cincinnati,University of Illinois, Urbana-Champaign
Charles E. McDonough
501 Avery Street, Fifth Floor, P.O. Box 49
Fouss , Daniel A. - Davidson, Heckler, R
311 Fourth Street
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Drew M. Capuder
1543 Fairmont Ave., Ste. 207
Business, Employment, Mediation, Media, Health Care, Wrongful Termination
University of Houston Law Center,University of Louisiana, Lafayette
Texas, West Virginia
Thomas A. Wilson
2520 Larwood Dr.
Environmental, Business, Real Estate
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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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