Tips & Traps When Incorporating Your Business
by Jensen, Jeffery; Radford, Brian; Bulpitt, StephenEdition: 1st
Format: Paperback
Pub. Date: 2005-09-20
Publisher(s): McGraw-Hill Education
Other versions by this Author
-
Free Shipping On Orders Over $35*
Your order must be $35 or more to qualify for free economy shipping. Marketplace items, eBooks and apparel do not qualify towards the $35 purchase minimum.
-
eCampus.com Device Compatibility Matrix
Click the device icon to install or view instructions
Apple iOS | iPad, iPhone, iPod
Android Devices | Android Tables & Phones OS 2.2 or higher | *Kindle Fire
Windows 10 / 8 / 7 / Vista / XP
Mac OS X | **iMac / MacbookEnjoy offline reading with these devicesiPad, iPhone, iPod
Android 2.2 +Kindle FireWindows
10 / 8 / 7 / Vista / XPMac
List Price: $22.00
Buy New
Special Order. We will make every effort to obtain this item but cannot guarantee stock or timing.
$21.98
Rent Book
Select for Price
Digital
$24.75*
Used Book
We're Sorry
Sold Out
How Marketplace Works:
- This item is offered by an independent seller and not shipped from our warehouse
- Item details like edition and cover design may differ from our description; see seller's comments before ordering.
- Sellers much confirm and ship within two business days; otherwise, the order will be cancelled and refunded.
- Marketplace purchases cannot be returned to eCampus.com. Contact the seller directly for inquiries; if no response within two days, contact customer service.
- Additional shipping costs apply to Marketplace purchases. Review shipping costs at checkout.
Summary
Tactics for small business owners to incorporate on their own and reap big rewardsTips & Traps When Incorporating Your Businessis for millions of small business owners who want to incorporate their businesses but are intimidated by the legal complexities and fees associated with the process. The authors clearly describe the types of corporations and explain the legal and tax advantages of each. Then, following the acclaimed Tips &Traps format, they: Walk readers step-by-step through the process--from picking a name to filing paperwork, issuing shares, and running shareholder meetings Supply samples of all the necessary forms, agreements, and other documents Provide checklists covering legal, financial, and tax-related aspects of incorporating Explain the different types of corporations and their key characteristics (including owner liability, tax treatment, documents needed, and management styles) Explore the right locations to incorporate a particular business, and how to raise capital for that corporation
Author Biography
Jeffery A. Jensen, C.P.A. and Brian Radford are the founders of American Business Solutions, Inc., a small-business consulting firm.
Stephen Bulpitt is the founder of United Financial Solutions, an e-publishing and small-business consulting firm.
Table of Contents
| Introduction | p. 1 |
| What Is a Corporation? | p. 2 |
| Why Should I Incorporate? | p. 4 |
| For-Profit versus Nonprofit Corporations | p. 8 |
| Choosing Which Business Entity Is Best for You | p. 11 |
| Sole Proprietorship | p. 12 |
| General Partnership | p. 13 |
| Limited Partnership | p. 14 |
| Limited Liability Company | p. 15 |
| C Corporations | p. 15 |
| S Corporations | p. 16 |
| Comparison of Business Entities | p. 18 |
| Incorporating | p. 23 |
| Checklist for Incorporating | p. 23 |
| Choose a Corporate Name | p. 24 |
| Choose a Business Type | p. 26 |
| Choose a State in Which to Incorporate | p. 26 |
| Key Documents for Incorporating | p. 29 |
| Determine Stock Composition | p. 29 |
| Choose Corporate Directors | p. 31 |
| Choose a Registered Agent | p. 31 |
| Prepare Your Articles of Incorporation | p. 32 |
| Prepare Other Key Documents | p. 33 |
| File Key Documents | p. 35 |
| Federal Employer Identification Number | p. 35 |
| Shareholders Agreement | p. 36 |
| Organizational Meeting | p. 36 |
| Open a Bank Account | p. 36 |
| File Form 2553 for an S Corporation | p. 37 |
| Organize Corporate Records | p. 37 |
| You're Ready to Operate Your Corporation | p. 37 |
| Running Your Corporation | p. 39 |
| Role of Directors and Officers | p. 39 |
| Role of Bylaws and Corporate Minutes | p. 41 |
| How to Run Your Corporation | p. 44 |
| Hold Corporate Meetings | p. 46 |
| Special Issues for One-Person Corporations | p. 48 |
| Learning Basic Accounting and Finance | p. 49 |
| Financial Statements | p. 49 |
| Ratio Analysis | p. 53 |
| Managing Your Business | p. 59 |
| Accounting Systems | p. 59 |
| Basics of the Double Entry System | p. 60 |
| Why Keep Records? | p. 60 |
| A Business Checkbook | p. 64 |
| Getting Help from an Accountant | p. 65 |
| Filing Taxes | p. 67 |
| Accounting Year | p. 67 |
| Accounting Method | p. 68 |
| Tax Professionals | p. 69 |
| Forms to File | p. 70 |
| Minimizing Taxes | p. 77 |
| What Is Deductible? | p. 77 |
| Liability | p. 87 |
| Preventing the Corporate Veil from Being Pierced | p. 87 |
| Alternatives to Lawsuits | p. 89 |
| How to Find a Good Lawyer | p. 91 |
| Raising Capital | p. 95 |
| State and Federal Money | p. 96 |
| Funding through Loans | p. 97 |
| Funding through Venture Capital | p. 100 |
| Creative Alternatives | p. 102 |
| Summary | p. 104 |
| Managing Employees | p. 105 |
| Planning for Employees | p. 105 |
| Where Can I Look for Employees? | p. 108 |
| Other Hiring Considerations | p. 111 |
| Offering Benefits to Your Employees | p. 113 |
| Health Insurance | p. 113 |
| 401(k) Retirement Plans | p. 114 |
| IRA Retirement Plans | p. 116 |
| Fringe Benefits | p. 117 |
| Exit Strategy | p. 118 |
| Labor and Employment Law | p. 119 |
| Title VII | p. 120 |
| Equal Pay in Employment Act | p. 122 |
| Age Discrimination in Employment Act | p. 123 |
| Title I and V of the Americans with Disabilities Act | p. 123 |
| Sections 501 and 505 of the Rehabilitation Act of 1973 | p. 124 |
| Civil Rights Act of 1991 | p. 124 |
| Other Important Laws and Acts | p. 124 |
| Summary | p. 126 |
| State Specific Information | p. 127 |
| Articles of Incorporation | p. 189 |
| IRS Form SS-4 and Instructions | p. 199 |
| IRS Form 2553 and Instructions (S Corporation Election) | p. 209 |
| Bylaws Template | p. 217 |
| Minutes of Annual Meeting of Shareholders | p. 227 |
| Minutes of Annual Meeting of Board of Directors | p. 231 |
| Sample Business Plan | p. 233 |
| Index | p. 237 |
| Table of Contents provided by Ingram. All Rights Reserved. |
An electronic version of this book is available through VitalSource.
This book is viewable on PC, Mac, iPhone, iPad, iPod Touch, and most smartphones.
By purchasing, you will be able to view this book online, as well as download it, for the chosen number of days.
Digital License
You are licensing a digital product for a set duration. Durations are set forth in the product description, with "Lifetime" typically meaning five (5) years of online access and permanent download to a supported device. All licenses are non-transferable.
More details can be found here.
A downloadable version of this book is available through the eCampus Reader or compatible Adobe readers.
Applications are available on iOS, Android, PC, Mac, and Windows Mobile platforms.
Please view the compatibility matrix prior to purchase.