Alex Goumakos
?>
Download eBooks and Software
 Moviescapital.com - The Number 1 Movie Downloads Site On CB!
Make A Killing With The Only Legal & Real Unlimited Movie Downloads Site!now With Aff Bonuses. All Moviescapital Movies Are Licensed And Downloaded Directly From Our Servers. We Are In The Top 100 CB Vendors! Coversions Sky Rocket! 75% Commission
New! Isatellitelink - Movie Downloads + Stream Tv + Stream Downloader.
75% Commission+bonuses On Our New Killer App Isatellitelink.all In One Legal Movie Downloads + Brand New Stream Downloader Technology + Streaming Tv + Media Converter On A Conversion Optimized Website. Sales Video Available.from The Moviescapital Team
Restoring The Republic Ebook Series
Compare The Key Differences Between A Democracy And A Republic, Uncover Trojan Horses Being Used In American Society Today To Destabilize Free Enterprise And Promote Socialism And What Legal Safeguards The Founding Fathers Placed In The U.s.
Articles > Legal Mattersvantages to Incorporating
by: Alex Goumakos
There's no question that hard work and a little luck is what it takes to BE successful. But a little knowledge, especially when it comes to setting up your business, will help you STAY successful.
While many business owners give a lot of thought to location, store décor, customer service, hiring employees and management issues (and rightly so); choosing the proper business structure (such as sole proprietor, partnership, corporation, limited liability company) doesn't get the attention it deserves. Many entrepreneurs don't realize this, but the business form they choose can often times be the difference between success and failure, especially in today's competitive and litigious marketplace. If you want to succeed, you need all the advantages you can get. High on the list of safe bets is the corporate form of business.
Incorporating, while definitely not for everybody, offers several distinct and money-saving advantages over the other types of entities. Here are seven of those advantages:
Asset Protection - If you operate as a sole proprietor or partnership, there is virtually unlimited personal liability for business debts or lawsuits. In other words should you go out of business or be a defendant in a lawsuit, your personal assets such as homes, jewelry, vehicles, savings, etc. are up for grabs. This is generally NOT the case when you incorporate. When you incorporate you are only responsible for your investment in the corporation. The limited liability feature of a corporation, while not a guarantee, is DEFINITELY one of the most attractive reasons for incorporating.
Easier To Sell - Corporations are generally much easier to sell and are usually more attractive to buyers than either a sole proprietorship or partnership. The reason for this is because a new buyer will not be personally liable for any wrongdoings on the part of the previous owners. If someone buys a sole proprietorship, for example, the new owner can be held personally liable for any mistakes or illegalities on the part of the prior owner…even if the new owner had NOTHING to do with the situation! This is usually NOT the case with a corporation.
Tax Savings - When you incorporate there are numerous tax advantages at your disposal that are virtually impossible to accomplish with other business entities. When you incorporate you create a separate and distinct legal entity. Because of this, there are many transactions that you can structure between you and your corporation to save big money on taxes. For instance, if you own a building you can rent office facilities to your corporation and claim depreciation and other deductions for it. Your corporation can then claim the rental expense. You are prohibited from doing this if you are a sole proprietor or a partner in a partnership.
Privacy and Confidentiality - The corporate form of business is a great way to keep your identity and business affairs private and confidential. If you want to start a business, but would like to remain anonymous, a corporation is the best way to accomplish this. States such as Nevada offer even more privacy protection for corporations and their shareholders.
Easier to Raise Capital - When you're looking to raise money through investment or borrowing, a corporation can actually make finding and getting the money you need easier. If you want to take on investors you simply sell shares of stock. If you want to borrow, a corporation can add clout when dealing with banks or other lending institutions.
Perpetuity - As I mentioned in #3, when you incorporate you create a separate and distinct legal entity. This separate and distinct entity (the corporation) can endure almost forever irrespective of what happens to the shareholders, directors, or officers. This is NOT the case with sole proprietorships, partnerships or even limited liability companies. For example, if an owner, partner, or member dies the business AUTOMATICALLY ends or gets wrapped up in legal red tape. Corporations, on the other hand, have unlimited life.
Increases Credibility - Let's face it. Most people feel more secure and confident dealing with a corporation as opposed to a sole proprietorship. Having INC. or CORP. after your company's name adds a touch of professionalism and credibility to your business dealings.
As always, be sure to consult with your attorney or business advisor before undertaking any important legal or financial decision. While there are many advantages and money-saving reasons to incorporate, as I've said before, it's not for everybody. However, you do owe it to yourself to find out more.
?>
News on Legal Matters
INVENSENSE, INC. PROVIDES LEGAL MATTERS UPDATE
SUNNYVALE, California, May 17, 2012 - InvenSense, Inc. (NYSE: INVN), today provided an update regarding certain legal matters. On May 16, 2012 ST Microelectronics, Inc. elected to file a complaint in the ... Legal Matters: State of Appeals Decision
That State of Appeals says that state owes a man who was wrongly accused of soliciting a prostitute. 50-year-old David... OCEANSIDE: Tri-City board to discuss potential litigation
Tri-City Medical Center will hold a closed-door special meeting at 11 a.m. Thursday to discuss several legal matters, including potential litigation involving a former executive at the public hospital. Johnston lawyers give free advice
Selma attorney Bob Denning, left, chats with a client about legal matters during "Ask-A-Lawyer Day" at the Johnston County Courthouse. Smithfield attorney Martin Tetreault, right, was among the Johnston County Bar Association members offering free legal advice during "Ask-A-Lawyer Day." Legal Matters: Legal issues abound in telecommuting
As telecommuting grows in acceptance, employers will need to keep in mind the legal issues that come with this growing work arrangement.
|
