Is there a Right Way and a Wrong Way to Incorporate Your Business?  

Ready to incorporate your business? Whatever you do, don’t do this! There are several ways to organize your business the wrong way. What should you avoid? Read on to find out. Are you considering incorporation for your business? It can be the best protection you have for your business if you do it right. Don’t fall into the trap of incorporating the wrong way. You
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Categories: CORPORATIONS & LLCs.

Are Online Incorporation Tools a Legitimate and Reliable Way to Create a Corporation?

Online incorporation tools can lead to serious legal problems down the road. The upbeat advertisements of online incorporation tools make incorporating your company look very cheap, easy, and simple. But unfortunately, that’s far from the truth. Purchasing a kit online to incorporate a business without the help of a professional can be like buying all the parts to build a car without the knowledge of
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Categories: CORPORATIONS & LLCs.

5 Things You Must Do to Maintain Your Corporate Entity in the Eyes of the Courts

If you’re incorporating in CA, here is how you can maintain your corporation’s legal status. If you are incorporating in CA, you may need to know how you can move through the process while maintaining your corporate entity. Because corporations are seen as separate entities unto themselves, they can operate in some limited capacities much like individuals do. Corporations can buy and sell property, commit
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Categories: CORPORATIONS & LLCs.

The Ugly Truth about Incorporating Incorrectly

Did you know the risks of incorporating can be both high and costly if done incorrectly? Filing to create an LLC is a relatively simple process; however, the risks of incorporating incorrectly are significant. A Limited Liability Corporation (LLC) is a business structure under which you can create a business. LLCs protect the business owners by limiting their liability in the event of legal action
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Categories: CORPORATIONS & LLCs.

What Nobody Tells You About Incorporating Online Until its Too Late!

Incorporating online might be quick and easy, but it sacrifices most of the major benefits. Incorporating online is an appealing way to move your business to a different classification quickly. You can save significant sums on taxes and reduce liability. As with anything, you expect incorporating online to be the faster, cheaper and easier method. Before you commit, you should consider some of the fallbacks.
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Categories: CORPORATIONS & LLCs.

What’s the True Cost of Incorporation?

You need to know the true cost of incorporation before you make mistakes that could sink your business. Why do you need to know the true cost of incorporation? Running a small business leads to a life full of difficult decisions. As your business grows, managing taxes, costs, liability and asset protection becomes a juggling act. You may have looked into incorporating as a way
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Categories: CORPORATIONS & LLCs.

How to Incorporate a Business the Right Way

What do you need to know to incorporate a business? Do you know how to incorporate a business? When it comes to your business, the term “incorporate” means to convert your business into a corporation. By law, a corporation is treated as a person, who can buy property, sell property, commit crimes, be taxed and contracted. Turning a business into a corporation prevents you from
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Categories: CORPORATIONS & LLCs.

The Consequences for Failing to Comply with the 1099 Rules

If your business paid someone (who was not your employee) a total of $600 or more during the year, you must issue a 1099 to them (unless it is a corporation). For attorneys, 1099s are required even if incorporated or regardless of their entity type. In addition 1099s must be filed with the Internal Revenue Service. The 1099 filing requirement applies for payments made by
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Categories: BUSINESS TAX STRATEGIES, CORPORATIONS & LLCs, and SMALL BUSINESS ADVISORY.

1099s: The IRS’ War on Underreporting—Don’t Get Caught in the Crossfire

The IRS has declared war on the underreporting of income and is taking the most aggressive approach ever in their ability to enforce compliance with new 1099 regulations. Many IRS auditors are now denying deductions for payments by businesses that fail to issue required 1099s, even if unintentional. The IRS penalty trap Since 2012 business tax returns have two questions that all businesses must answer,
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Categories: CORPORATIONS & LLCs and SMALL BUSINESS ADVISORY.

Transferring Risk Using Insurance for Commercial Businesses

California law requires that business owners act responsibly in managing the risks common to their industry and to protect against other areas of vulnerability. Businesses should consider transferring a large part of its risk to an insurer (which has deeper pockets) to protect against the full impact of an uninsured loss, which could threaten its viability. Home-based businesses If you operate your business from home,
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Categories: CORPORATIONS & LLCs and SMALL BUSINESS ADVISORY.