Guest Blog from Nancy Lewellen ? Make Your Image Business ...

Have you ever thought about incorporating your business, but didn?t know if you should?? Have you wondered who to talk to and find out what the pros and cons are of doing so?? Here are some common reasons my business clients give to me as to why they want to incorporate or set up an LLC.

NANCY LEWELLEN?S TOP TEN REASONS TO FORM A BUSINESS ENTITY

?

1. TAX ISSUES- Corporations, LLPs and LLCs have different tax advantages than sole proprietorships.

?

1. PERSONAL LIABILITY ISSUES-A corporation, LLP, or LLC may shield your personal assets if sued.

?

1. HEALTH CARE OPTIONS- Corporations, LLCs or LLPs can enjoy the benefits of guaranteed-issue group health insurance with 2 or more employees.

?

1. RETIREMENT/PENSION PLAN OPTIONS- These options are greater for various types of business entities than for sole proprietors.

?

1. YOU CAN APPEAR BIGGER THAN YOU ARE- Incorporating makes you appear bigger to the outside world.? Some businesses will only contract with either corporations, LLPs, or LLCs.

?

1. GIVES A FORMAL LEGAL STRUCTURE TO MULTI-PARTY ORGANIZATIONS.?? With a corporation, LLC or LLP you must submit articles that define the organization and have an operating agreement, LP agreement or bylaws that govern how the company will run.

?

1. EASE OF RAISING CAPITAL.? A corporation, LLC or LLP can simply sell stock, membership shares or partnership shares to raise money. These shareholders or members are not necessarily going to have any say in the company?s day to day affairs, but split the profits and/or dividends on a predetermined basis.

?

1. PERPETUAL LIFE.? With a corporation, LLC or LLP, you can have the company continue to stay in business after the original owner dies, becomes incapacitated or sells his/her share.

?

1. LEGAL REQUIREMENTS- Your profession may determine what type of entity you can have.? In California attorneys cannot be LLCs, but must be a sole proprietor, a Professional Corporation, or an LLP; doctors must be a Medical Corporation or sole proprietor.

?

1. ABILITY TO BUY/EXPENSE OR DEPRECIATE ASSETS. If you use the car predominantly for business, your corporation can buy the car, and can depreciate it over time, saving you tax dollars.

?

If you have further questions, I give a complimentary 15 minute session in person or on the phone.

?

Nancy Lewellen, Attorney and Real Estate Broker, helps individuals and small businesses set up and maintain business entities, drafts, negotiates, and reviews contracts and leases, and advises on landlord/tenant and other real estate issues.

Source: http://imagebusinesscoach.com/blog/2012/03/guest-blog-from-nancy-lewellen/

google music 2013 ford escape stop online piracy act spear of destiny rock hill sc kate middleton pregnant national book awards