The main benefit to small businesses of being INCORPORATED (as opposed to being a partnership, LLC or some other form of business) is the ability to institute policies. For instance, as a corporation you are empowered to make policies about what the business does for employees in regards to healthcare, child care, veichle leasing, facilities, etc. Each of these items are considered operating expenses that are tax deductable (and will often completely offset tax liability for small businesses). You can take a nominal salary for running the corporation (like $1 a year) and benefit from the ability to create policies tailored to your particular environment.
All perfectly legal so long as you can justify the policies. I am paying an attorney right now to get me set up in the state of Maryland. M -----Original Message----- From: Heald, Tim [mailto:[EMAIL PROTECTED] Sent: Monday, June 16, 2003 9:54 AM To: CF-Community Subject: RE: Home Business was(RE: Microsoft ActionPack Subscription (with cou pon....)) I have been operating my side/contracting business as Terminal-Fusion for several years now, but never actually went the legal route. Always just tack what ever I make on to the top of my base income come taxt time. What are the benifits of becoming incorperated? Tim > -----Original Message----- > From: Raymond Camden [SMTP:[EMAIL PROTECTED] > Sent: Monday, June 16, 2003 9:54 AM > To: CF-Community > Subject: RE: Home Business was(RE: Microsoft ActionPack Subscription > (with cou pon....)) > > > I am wondering, did any of you ever take the time to set up > > an actual company? How difficult is it? I was thinking sub > > chapter s? > > > > I thought I _had_ to. I just used my name as my business (same thing I > did when I bought a computer via Dell using their Small Business > prices). I should have named my company Vandelay Industries. ;) > > -ray > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Archives: http://www.houseoffusion.com/cf_lists/index.cfm?forumid=5 Subscription: http://www.houseoffusion.com/cf_lists/index.cfm?method=subscribe&forumid=5 This list and all House of Fusion resources hosted by CFHosting.com. The place for dependable ColdFusion Hosting. http://www.cfhosting.com Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
