Corporate Attorneys Somerset KY

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 Somerset, KY that can help answer your questions about Corporate Attorneys.

Marcus Lee Vanover
117 W Mt Vernon St
Somerset, KY
Specialties
Oil & Gas, Business, Estate Planning, Car Accident, Bankruptcy
Education
University of Kentucky College of Law
State Licensing
Kentucky, Tennessee

Mark D. Knight
(606) 679-7411
201 West Columbia Street, Drawer 49
Somerset, KY
 
Howard D Hurwitz Esq.
(502) 452-7582
Appliance Park, Ap2-225
Louisville, KY
Specialties
Commercial, International Law
State Licensing
Colorado, DC, Kentucky, Virginia

Robert Leo Brown
(502) 587-3716
101 S 5th St #3300
Louisville, KY
Specialties
International Law, Antitrust, Commercial
Education
Univ of Louisville,Univ of Louisville SOL
State Licensing
California

Anita L Nesser
(859) 514-4655
1713 Jaggie Fox Way
Lexington, KY
Specialties
Business
Education
John Marshall Law School (Chicago),Wellesley College
State Licensing
DC, Illinois, Texas

D. Bruce Orwin
(606) 678-4386
116 North Main, Suite 1, P.O. Box 716
Somerset, KY
 
Bradley H. Pruitt
(502) 468-4527
2700 National City Tower, 101 South Fifth Street
Louisville, KY
Specialties
Contracts, Corporate, Employment, Health Care
Education
University of Alabama
State Licensing
Georgia, Kentucky

Charles Francis Wilkinson
(859) 357-7510
3499 Blazer Parkway
Lexington, KY
Specialties
Antitrust, Government Contracts, Contracts, Corporate, Commercial, International Law
Education
Northern Illinois University
State Licensing
Georgia, Illinois

Christopher Carter Ruml
(502) 589-5235
500 W Jefferson St Ste 2800
Louisville, KY
Specialties
Estate Planning, Business, Probate, Trusts
Education
Stanford Law School,Princeton University
State Licensing
Florida, Kentucky

Eric Mills
(606) 298-0505
P.O. Box 2057
Inez, KY
Specialties
Business Law

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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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