`
Join our small business association today.  You've come to the right web site. Ideal-Companies offers new business Blogs,  Articles,  New Business Startup Kit, and its  Consultants Network for startup and new businesses.

Attend one of our small business events

Free 90 day trial -
500 contacts and a bonus $200 off the ESP Creative Package
(retail value $495).
Limited time offer!		 Click for a free trial of this email service

Question & Answers for Small Businesses - Current Answers

 




Your Answer:
Your Name:
     
SELECTED QUESTION

Should I incorporate?

 Luis G.
I'm starting a new business but I'm not sure if I should operate as a sole proprieter, partnership, or incorporate. What are the advantages and disadvantages?
ANSWERS

 Howard FF
You can always incorporate than elect to be a subchapter S corporation. That way you avoid double taxation.

King H.
The easiest is a sole proprietorship. You can use your own name right away. For example, Louis G. & Associates. If you want to use a name like Best Products Company then you need to register with your state and be sure no one else is using this name. From a tax standpoint, all revenue and expenses will count against your other income. If you are sued, all your personal assets are at risk. You will also not be building an "equity" that you could sell to someone else. If you have a partner then consider a partership. Better yet, look into an LLC. If you are trying to build a business that you can sell and want to make a better impression on clients, consider incorporation. You can still avoid double taxation by using "subchapter S". If your are sued, usually only your corporation assets are at risk, not your house or other assets. In many states you can buy a book and incorporate without a lawyer.











Please give a concise, clear, and honest answer to this question.

Tell us about your own experiences.

You can even give links* to other sites that might other more help.

Thanks.
Posting Policy
We do not use "no-follow" on your links. Also please offer links that help answer the questions and not just a link to sell your unrelated products or services.
Ideal-Companies offers Washington state business startup kits, blogs, forums, tips, articles, newsletters, and membership in its Consultants Network for new Small Businesses and a unique New Business Startup Kit which includes a 5 page web site, business cards, stationary, business consulting and new business startup books.  Copyright© 2007-2010 - Terms of Use