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Contact our office with the name you would like to use for incorporation. |
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The Differences Between Sole Proprietorships, Partnerships, LLCs, S Corporations and C Corporations/ We can answer all these questions that follow:
Sole Proprietorship • The biggest financial advantage of a Sole Proprietorship • The single worst danger of a Sole Proprietorship • Limitations of a Sole Proprietorship • Taxes of a Sole Proprietorship • When a Sole Proprietorship is the most appropriate business form • What you need to know about tax credits • How to set up a Sole Proprietorship. Partnership • When a Partnership is really a Partnership • Four different kinds of Partnerships and the most appropriate one for your business • When to pick a Partnership instead of a corporation • Advantages for raising capital and finding better-qualified employees • The single biggest problem with Partnerships • How to set up a Partnership agreement • Splitting profits and picking up losses • What taxes to pay • How to set up a Partnership Corporation • When you really should set up a corporation (and when you really shouldn't) • How to lower your taxes by forming a corporation • Positive aspects of incorporation, including credibility, attracting investors, or transferring ownership • The truth about double taxation • Making sure your limited liability is not undermined by personal guarantees (many people get this wrong) • Registration and maintenance of a corporation • S Corporation vs. C Corporation and when to pick one instead of the other • Taxes: what you can do with a C Corporation that you cannot do with an S Corporation • Differences in tax rates and structures between C Corporations and S Corporations • One major advantage of an S Corporation over an LLC that most people rarely know • Important limitations of S Corporations • Statutory close corporation -- what it is and how it is different from a regular C Corporation • When to go for a close corporation instead of a C Corporation • How you can distribute profits of a close corporation in a way that is prohibited for a C Corporation • Limitations of close corporations • Professional corporation -- what it is and who can create it • What a professional corporation can and cannot do • Important differences for limited liability of a professional corporation • How to set up a corporation of any kind: All you need to know about creating C Corporation, S Corporation, close corporation or professional corporation • When incorporation is not the way to go LLC • What a Limited Liability Company (LLC) is • Tax flexibility of an LLC • Special allocation of income • Limited liability of an LLC and how not to jeopardize it • What taxes to pay with an LLC • Disadvantages of an LLC • Creating and managing an LLC: All you need to know about forming a Limited Liability Company • Buy-out -- what it is, the benefits and disadvantages, how to prepare for a buy-out from the start All Types of Corporations and LLC • List of incorporation friendly states, why they are considered incorporation friendly, and a discussion about each of those states • When to incorporate in your home state instead of an incorporation friendly state • List of filing fees of each one of the incorporation friendly states • Doing business on the Internet as a corporation • Payroll taxes, federal income taxes, sales taxes, state taxes -- all you need to know about taxation An Overall Closing Discussion • Setting up your business • Choosing a business entity • Determining the legal requirements • Registering a business name • Getting an EIN (Employer's Identification Number) • Determining if people you are paying should be considered employees or contractors • Getting a business license • Getting insurance coverage • Obtaining other licenses from concerned state agencies • Registering a trademark |
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Incorporating your Daycare may be one of the most important decisions of your life. Most individuals when they start their daycare are concerned with the supplies, the inspections, and the advertisements for the business, but what they forget about is the business aspect. Your daycare should always be treated as a business. Many daycare providers forget about insurance for their daycare. This separate insurance could be vital from any legal ramification. Such as lawsuits that tie up your assest which include your home, cars and other personal assets. Not only do many individual forget about insurance. They don't realize that it may be just as important to incorporate their Daycare. Incorporating or LLC can limit the 