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
 
Raymond Austin Wilkerson
13609 Pinnacle Gardens Circle
Louisville, KY
Specialties
Lawsuits & Disputes, Business, Entertainment, Criminal Defense, Education, Real Estate
Education
Regent University
State Licensing
Texas

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

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

D. Bruce Orwin
(606) 678-4386
116 North Main, Suite 1, P.O. Box 716
Somerset, KY
 
Daniel G Grove
(859) 255-9500
175 East Main Street, Suite 500
Lexington, KY
Specialties
Civil Rights, Appeals, Commercial
State Licensing
DC

Jonathan Michael Hodge
(502) 585-2100
100 North Sixth St. Fifth Floor
Louisville, KY
Specialties
Bankruptcy, Divorce, Criminal Defense, Intellectual Property, Business, Credit Repair, Personal Injury, DUI
State Licensing
Illinois, Kentucky

Tad Thomas
(877) 301-8100
239 S 5TH ST STE 1800
LOUISVILLE, KY
Specialties
Class Action, Business, Medical Malpractice, Wrongful Death, Personal Injury
Education
Georgetown College,Salmon P. Chase College of Law
State Licensing
Kentucky, New York

W. Brant Warrick
(502) 815-5000
Hurstbourne Place, Suite 1300, 9300 Shelbyville Road
Louisville, KY
Specialties
Litigation, Commercial, Insurance
State Licensing
Arkansas

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...

Click here to read the rest of this article from GlobalBx