Spiegel & Utrera, P.A. is a fully licensed law firm that delivers professional legal services at extremely affordable prices.
"Start, Expand, Buy, Sell Your Business Today" ON THE AIR with Larry Spiegel and host Joe Castello. Listen to our show at www.AmeriLawyer.com/radioshow
WHAT'S IMPORTANT TO YOU? Starting a Business? Anonymity? New Credit Profile? Tax Avoidance? Avoiding Probate? Tax Shelter? Asset Protection? Building a Brand? Attracting Investors? At AmeriLawyer.com we can help!
Seven Basic Reasons:
1.Protect yourself from personal liability
Corporation signs lease
Corporation borrows money
Corporation buys goods and services on credit
Employees or Independent Contractors of the Corporation injure someone while working
You're not personally liable!
2. Tax Advantages
Take what would otherwise be non-deductible personal expenses and turn them into deductible business expenses
Personal liabilities relating to the business that might not otherwise be reimbursed by the Corporation can be reimbursed by the Corporation and become deductible business expenses of the Corporation through corporate indemnification
Use of motor vehicle by Corporation
Use of part of your residence by the Corporation with the utilization of a lease not considered a home office.
Annual meeting of shareholders and directors in far away or a resort city and deduct for taxes
The goal is to convert as many non-deductible personal expenses into legitimate deductible business expenses, in this area, there is no limit to what the mind can conceive
IRS Form 1040, Schedule C (Profit or Loss from a Business) is the target of many IRS audits, however, compare this to the audit rates of similar businesses that have incorporated and the audit rate is almost NIL
The Corporation can be established in such a way so that shareholder/owners remain anonymous, many times the same anonymity can be accomplished for officers and directors.
4. Avoid Probate
By owning shares jointly with your spouse you can avoid probate of the shares upon the death of either spouse.
5. Use of a Marketing framework
Hold the business out to all as a corporation but yet still maintain centralized management
Give appearance of being much bigger than it is
Attract investors more easily
Appear more stable, established and permanent due to the perpetual nature and continuity of life of the corporation, unlike a sole proprietorship, a corporation continues even after the death of an owner
6. Raising capital
Because of the ease of transfer of ownership and the separate entity concept of the Corporation, it is much easier to attract investors than otherwise
7. Easy control and transfer of ownership and assets
Put real estate in Corporation and transfer through private agreement, i.e. stock transfer rather than formal closing
Re-title asset in a Corporation yet continue to maintain control
Ease of transfer of ownership in the Corporation
Management and control of a corporation may be influenced by a stock option
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STARTING A BUSINESS There are many benefits to starting a business and incorporating. Some of the benefits of starting a business include protection of your personal assets, ease of raising capital, gain anonymity, available tax benefits and more!
Material presented on AmeriLawyer.com is intended for information purposes only. It is not intended as professional advice and should not be construed as such. The U.S. Treasury Department requires us to inform you than any information obtained from this website is not intended or written by our law firm to be used, and cannot be used by any taxpayer, for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code. Advice from our firm relating to Federal tax matters may not be used in promoting, marketing or recommending any entity, investment plan or arrangement to any taxpayer.