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> "Christensen, Kent" wrote:
> >
> > re: I want to start my own business (eventually) and I would like to know
> > how one becomes "Incorporated."
and someone replied
> > The answer is ... see an attorney. S/he will advise whether you should and
> > what it will cost and will do it for you. S/he will also likely note you
> > will have the opportunity to pay income tax not only on the salary the
> > corporation pays you but also on the "profit" the corporation obtains, i.e.
> > two tax filings. This is not professional advice.
and nobody recommended Nolo Press (www.nolo.com) where, in the Small Business
Section, today's hot question just happens to be about the pluses and minuses of
being incorporated. If you want LOTS of information about various business
types, and what's involved in getting yourself that way, spend an evening
prowling the Nolo Press web site and maybe buying a book or two. You don't
necessarily need a lawyer to incorporate, or to form an LLC, or any other kind of
business entity. It all depends on what you want to do.
As a side note, Los Trancos Systems is an LLC. We have been happily allocating
various kinds of income and expenses into categories for the past 8 years such
that the IRS gets as little as is legal. While you will pay taxes as an
individual and as a business, you'd be surprised at the breaks small businesses
can create for individuals and partners in business.
