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Dołączył: 22 Kwi 2011
Posty: 129
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Skąd: England
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 Wysłany: Pon 8:15, 25 Kwi 2011 Temat postu: Oakley Sunglasses8How Should I Form My New Busines |
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Disadvantages
Personal assets are at risk to lawsuits
The company ceases to exist if the owner quits or dies
Is subject to self-employment taxes
Interest is NOT transferrable
Business CANNOT offset taxes using medical reimbursements and other benefits
Other (These can be pro’s or con’s depending on the circumstances)
Business is not taxed itself [link widoczny dla zalogowanych], prefer the individual is taxed on their personal taxes through a Schedule C
Typical Tax Form – 1040
LLC
Advantages
Personal assets are protected from lawsuits to the company
Administration on the head of prices are low
The owner can choose anyone framework for the business that he ambitions in terms of control
In MOST states, the company remains in existence whether the employer quits or dies
The IRS does not have a standard way to file taxes for LLCs so the owner can choose to file as a Sole Proprietor using a 1040, a S-Corp using a 1120S or a C-Corp using a 1120
Depending on the restrictions set in place when the LLC was established in the operating accession, the interest may be transferrable
Disadvantages
Must file with state and pay filing fees (These are normally not too bad)
S-Corp
Advantages
Personal assets are protected from lawsuits to the enterprise
If the owner quits or dies, the company remains in tact
Interest is transferrable; however, memorandum that there are IRS restrictions on who can own stock in an S-Corp
Disadvantages
Must file with state and pay filing fees (These are normally not too bad)
For worker shareholders who own more than 2% of the company, they cannot offset taxes using medical reimbursements and other benefits
Other (These can be pro’s or con’s depending on the circumstances)
Administration overhead includes referenda of board of directors, corporate minutes [link widoczny dla zalogowanych], yearly meetings, and report filings. Understand that these can be uncomplicated and period can be kept to a minimum. There are likewise templates to help set these up.
Shareholders elect directors to control business decisions. Note: If the shareholders consist of only 1 person, the control remains with that person
Business is not taxed. The Income is passed via to the shareholders. Business uses 1120s manner
Salaries are subject to self-employment tax however, shareholder distributions are not
C-Corp
Advantages
Personal assets are protected from lawsuits to the company
If the owner quits or dies, the company remains in tact
Shares of stock are easily transferrable
Company can offset taxes using medical reimbursements and other benefits
Disadvantages
Must file with state and disburse filing fees (These are usually not also wrong)
Other (These can be pros or cons relying ashore the circumstances)
Administration overhead includes elections of board of directors, corporate minutes, annual meetings, and report filings. Understand that these can be simple and time can be kept to a minimum. There are also templates to help set these up.
Shareholders select managers to control affair decisions. Note: If the shareholders consist of only 1 person [link widoczny dla zalogowanych], the control remains with that person
Company is taxed at corporate rate. Employee shareholders are taxed on dividends and salary as if employed any where else. Company uses 1120 form to file taxes.
REMEMBER that the formation of a company is NOT an effortless decision and should not be taken softly. The best way of operation is to discuss an solicitor for well as an capable actuary on counsel to assist you in production your decision.
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