Corporate Attorneys Pierre SD
John S. Lovald
117 East Capitol Avenue, P.O. Box 66
Jerry L. Wattier
Professional & Executive Building, 319 South Coteau Street, P.O. Box 28
Susan June Lea
3700 S Westport Ave #4119
Sioux Falls, SD
U of San Francisco SOL,Univ of California Berkeley,University of California, Berkeley,State Universi
Craig Owen Ash
Po Box 266
Business, Agriculture, Contracts, Real Estate, Family
University of North Dakota School of Law,University of North Dakota
Gregory Phillip Grajczyk
301 S Main St, P.O. Box 68
Chapter 7, Divorce, Criminal Defense, Business, Personal Injury, General Practice
Minnesota, South Dakota, Texas
Ronald D. Olinger
117 East Capitol Avenue, P.O. Box 66
Neal B Christensen
603 N River St
Hot Springs, SD
Business, Contracts, Corporate, Intellectual Property
Gregory M Huckabee
2008 Augusta Dr
Business, Corporate, Ethics, International Law
Edward Scott Sanders
1151 E. Washington St.
Real Estate, Business, Debt Collection
University of South Carolina School of Law,University of South Carolina
Spencer Carl Mosness
704 St Joseph St, Po Box 290
Rapid City, SD
Bankruptcy, Debt Collection, Business, Insurance, Oil & Gas, Fraud, Probate, Personal Injury, Real Estate
South Texas College Of Law
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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