Incorporation FAQ: Frequently Asked Questions about Corporations
People ask a handful of common questions when they're considering the general subject of incorporating a business or, more specifically, when they're considering purchasing a do-it-yourself incorporation kit or using an incorporation service. Here are the questions and answers we seem to give again and again:
- What is a corporation?
- Is a limited liability company a corporation?
- What is a C corporation?
- What is an S corporation?
- What is a disqualified S corporation?
- What is a close, or closed, corporation?
- What is a professional service corporation?
- Should you use an online incorporation service?
- What are the advantages of an S corporation?
- LLC versus corporation: Which is the better option?
- Does incorporating in Nevada save state income taxes?
- Which is the best state to incorporate in?
Owning and Operating a Corporation
- When is a business too small for incorporation?
- How does someone incorporate a new business?
- How does someone incorporate an existing business?
- What is a registered agent?
- How does a corporation pay its shareholders?
- How does one dissolve, cancel or stop a corporation?
- Which tax returns are required for the new small business corporation?
- What sort of accounting system does a small corporation need?
Additional Small Business Corporation Tax Resources
I've tried to supply lots of good, free general small business tax planning advice at this website. But I also sell three downloadable e-books (see below) that provide more specialized and powerful small business tax planning advice and commentary. If you're just starting out and cash flow is tight, you probably don't need (yet) the sort of information covered in these resources. But if your business is already profitable or about to become profitable, these guides truly should save you big amounts of business tax. But enough pushy selling...
You want to know the easiest, quickest way to cut your taxes? Find more business deductions. You should typically save thousands in taxes this way.Read More
Using an S corporation for business? The tactic in this case is to set as low a salary as is reasonable. But you must be both cautious and clever.Read More
Real estate is a great place to store the wealth a small business creates. But you can do more than that and use real estate to save massive amounts of tax.Read More