limited liability corporation http://www.artwoo.com Returned search results for limited liability corporation Copyright 2008 Tue, 02 Dec 2008 17:04:18 +0000 http://www.artwoo.com/rss/limited+liability+corporation Why Opt For A Limited Liability Company? http://www.artwoo.com/article/why-opt-for-a-limited-liability-company http://www.artwoo.com/article/why-opt-for-a-limited-liability-company#comments Thu, 15 Jun 2006 18:32:09 +0000 limited liability companysole proprietorshipsingle proprietorshipbad faithpartnershipapparentlycorporation members http://www.artwoo.com/article/why-opt-for-a-limited-liability-company single proprietorship, enter into a or form a corporation.

Each of the three legal structures has its own advantages and disadvantages. A is the easiest type of business to put up and operate because only one person is responsible for decision making and for running the business. However, being alone in business means you are solely responsible for whatever happens to you business and you only have to rely on your own capital and resources.

A partnership is better considering that two or more heads are always better than one. A partnership offers more possibility in terms of capital base and of brain power. However, partnerships do not always work due to conflicting business decisions.

The next if not the best option is to form a corporation which would be composed of incorporators who will put up the seed capital for the business. A corporation can provide more sources of funds and the owners are only liable to as much as the money they have invested in the business. Provided of course that the corporation does not indulge in illegalities or does things in . Doing so would necessitate the application of the principle of piercing the veil of corporate fiction. This means that the owners can be made accountable even beyond the amount of their investments if they are found to be in bad faith in certain transactions.

While the corporation has proven to be the best option for business owner, there is another option called the which offers the characteristics of both partnership and corporation. Members of a Limited Liability Company can enjoy the limited liability enjoyed by corporations unless a personal guarantee has been signed. This legal structure also offers tax benefits much like the benefits available to corporations.

A Limited Liability Company does not however require the bureaucracy of a corporation in terms of the taking of minutes. And unlike in a partnership where the partners can only participate in decision-making depending on their partnership status, members of a Limited liability Company can take part in decision making without losing their limited liability protection.

However, while a corporation can last for 50 years renewable for another period, a Limited Liability Company can be easily disbanded particularly when a member dies or becomes bankrupt. It is also more feasible to form a corporation if there are plans to do a public offering.

Despite the disadvantages of forming a Limited Liability Company, it is still the best choice for business start ups that are still testing the waters but already want to give their business a legal structure. The author frequently writes for LLC Your Business http://www.llcyourbusiness.com where additional information about business and LLC resources is freely available. ]]> Dare To Be Different: Limited Liability Company http://www.artwoo.com/article/dare-to-be-different-limited-liability-company http://www.artwoo.com/article/dare-to-be-different-limited-liability-company#comments Tue, 22 Aug 2006 22:27:16 +0000 limited liability companyllc memberssole proprietorshippartnershippersonal tax returnspersonal assetsliabilities http://www.artwoo.com/article/dare-to-be-different-limited-liability-company
Good decision-making is a key factor in the success of any business. Sometimes, it seems it solely depends upon these decisions we make. This involves what type of business to go into and of course, what kind of structure to use.

, or corporation. The decision is yours. But before you do, you might want to take a look at this thing called .

A limited liability company is a kind of business structure that offers limited liability to its members. It's not a partnership nor a corporation but rather a fusion of the characteristics of both.

Confused? Let us clarify it a bit.

In a corporation

* The company offers you just that limited liability depending on how much you invest. Just like in a limited liability company.

* There is no limit to the number of members. may be a single person, a corporation or a member of another limited liability company.

In a partnership

* The losses and of the company are shouldered equally by the partners. In LLC, there is a limit to how much a member will shoulder and collectors cannot hound the members to pay the company's liabilities using their .

However, the method of taxation in a partnership and a limited liability company is the same. On both types, the members put whatever income or loss they experience on their . This means that the company isn't the one paying the taxes but the individual members themselves. And there is no doubling of taxes involved.

The advantages of an LLC are:

* Less paperwork and administrative duties involved. This is because the company can be classified into different forms like sole-proprietorship, partnership or corporation regarding the way it is taxed. If they are registered as a sole proprietorship business, then tax involves less stress and work.

* General meetings and meeting minutes are not necessary

* There is more flexibility in the management of the business. All management policies depend upon the agreement between all of the members.

However, how good it might sound, there are always drawbacks. Disadvantages are:

* A limited liability company cannot last forever. Unlike a corporation where in succession takes care of the problem of management, the death of members or going bankrupt is usually enough reason for the company to break up.

* Also, the lack of stricter rules may cause a dissension between members and result to poor management.

* And it might be pretty difficult to find people willing to invest in the company. Note that a limited liability company is a relatively new trend and these investors might not be confident in investing in something that they don't fully understand yet, compared to the familiar grounds of a partnership or a corporation.

Yes, the road to success may be small, hard and long. Putting up your own limited liability company will take hard work and patience. But who knows? You might reap the best rewards. Be daring and be different.

All Rights Reserved. Content may be reprinted as long as links remain intact. Protect yourself and your business but getting an LLC today. Checkout http://perfectllc.info for more information. ]]> Limited Liability Company -- Perfect Setup For Small Businesses http://www.artwoo.com/article/limited-liability-company-perfect-setup-for-small-businesses http://www.artwoo.com/article/limited-liability-company-perfect-setup-for-small-businesses#comments Sat, 09 Sep 2006 12:27:07 +0000 limited liability companypartners limitedllc businesssecretary of statepersonal income taxpersonal guaranteeattractive business http://www.artwoo.com/article/limited-liability-company-perfect-setup-for-small-businesses Limited Liability Company or LLC is a legal entity that limits the liability of its owners. LLC is more suitable for small businesses with a limited number of partners. Limited Liability Company is neither a corporation nor a partnership, but combines the benefits of both. The liability of a businessperson is limited to his investment in the LLC. This means that he cannot be held personally liable for company debts unless he has stood a .

There are a number of tax advantages that a limited liability company can benefit from. The tax benefits of an are mostly gained through 'pass-through' taxation. In this system the profits from the business are taxed only once and owners need not pay both corporate and on their earnings through the LLC business.

Other advantages of a limited liability company are that it requires much less paperwork and administration than incorporations. There are minimal requirements for reporting to state and other regulatory bodies, and there is no requirement for board of directors meetings or annual general meetings. All these factors make a limited liability company an option for many small and medium sized businesses.

Forming a limited liability company is not difficult. You must decide on the name, business and location. The main paper to be filed is the 'Articles of Organization' along with the stipulated fees. The papers should then be submitted to the office of the in the state where the LLC is to be registered.

It is essential for each LLC to have a 'Registered Agent' with a street address in the state where it is registered. The office of the Secretary of State in your state will provide advice and assistance to register a Limited Liability Company. Professional services are available to complete the entire process within a couple of days for a reasonable charge. All states in the USA permit the registration of a business as a limited liability company.

Filing with the state authorities can incorporate Limited Liability Company. The general procedure is that of incorporating a corporation. The advantages of a LLC over a corporation are that there is no need to get the consent of shareholders, no need to issue shares and no need for a board of directors. Since Limited Liability Companies are run by the owners, they have their own operating agreement. Once these are decided, filing with the state authorities can incorporate the LLC. Thus the choice of business structure and the incorporation of it are important. Hence, it is advisable to get counsel from a lawyer before incorporating a Limited Liability Company. If you are thinking of setting up a LLC, visit Susan's site at http://www.easy-llc-formation.info. Susan also enjoys writing on a wide range of topics at http://www.health-and-fitness-hub.info. ]]> Should You Incorporate Your Business? http://www.artwoo.com/article/should-you-incorporate-your-business http://www.artwoo.com/article/should-you-incorporate-your-business#comments Fri, 07 Dec 2007 15:29:59 +0000 federal tax idsocial security numberpersonal assetsfinancial entityillegal actsapplicable statutescorporate purposes http://www.artwoo.com/article/should-you-incorporate-your-business financial entity from yourself. Legally a corporation is treated as a citizen. It even has its own for tax purposes, called a .

Most people incorporate to limit their personal liability so that they shield their . For instance, if your incorporated business was sued and found liable for damages, the winner could not take your personal car or home. Furthermore, incorporating creates a more professional image, and often helps with your taxes. If you plan to receive outside investment to grow your business corporation is the way to go. Incorporation protects you in many regards, but it does not protect you from any criminal charges by you or the corporation. You can't hide behind your corporation to commit and expect to be free from liability.

By investing cash or other property in your corporation you become an owner of an interest. In exchange for your personal investment you are issued stock in the corporation. A person with that ownership interest is called a stockholder or shareholder. Once you become a shareholder your liability is normally limited to the value of the cash or other property you have contributed to the corporation in exchange for stock.

As a general rule, the shareholder's assets not invested in the corporation are safe from the corporation's creditors. A shareholder may become personally liable for corporate debts if the corporation is not formed in compliance with or it operates in violation of , or if the corporation is functioning as a mere front for its shareholders rather than for . In other words, if you are simply creating a corporation to avoid liability, may become personally liable.

Under certain circumstances, corporate officers may be held personally liable for the corporation's failure to pay state and federal income tax withholdings. Additionally, a shareholder may be required to personally guarantee a loan of the corporation in order to satisfy a lender. If a shareholder does so, his liability is no longer limited to the value of his investment in the corporation.

The business affairs of your corporation are managed by the board of directors and officers. The directors are elected by the shareholders. For this reason, while shareholders have the ultimate control of a corporation because of their stock ownership, the every day management lies with the board of directors through its officers. In small corporations the shareholders, directors and officers are often the same persons. George Meszaros with Webene http://www.webene.com ]]> Turn Your Small Business Into A Limited Liability Company http://www.artwoo.com/article/turn-your-small-business-into-a-limited-liability-company http://www.artwoo.com/article/turn-your-small-business-into-a-limited-liability-company#comments Wed, 12 Sep 2007 21:30:00 +0000 limited liability companyforming a limited liability companypersonal assetsforming a companylegal paperworkprofessional legal servicecrucial http://www.artwoo.com/article/turn-your-small-business-into-a-limited-liability-company personal assets and take advantage of a flexible tax structure by forming a or LLC.

A Limited Liability Company is a legal form of Business Company granted in the United States offering limited liability to its owners. It is similar to a corporation, but a more flexible form of ownership, more suitable for smaller businesses with a limited number of employees or owners.

For new business owners a Limited Liability Company can be an attractive solution to especially considering the many benefits to having an LLC. For starters, having a LLC involves maintaining much less paperwork and recordkeeping as a corporation would have.



Many of the primary benefits consist of the various ways you can set up taxation. For many business taxes alone can be a complicated subject matter. As an individual owner you can decide how you wish your taxes to be applied.



For instance, a LLC can elect to be taxed as a sole proprietor, partnership, S-corp or corporation, providing much flexibility. Also using the default tax classification, profits are taxed personally at the member level, not at the LLC level. Consultation by a can be vital to identifying the best option for your business.



LLC's also provide some of the same protections that corporations have for protecting the owners and members from liabilities and debts of the LLC. If your business should ever face insolvency your personal assets would be protected.



Yet there are still some vital rules to keep in mind when running a Limited Liability Company. Proper management of your company financials is important. It is to keep the business and affairs of the LLC separate from members or manager's personal affairs. This means establishing a separate bank account, and maintaining separate records from the LLC.

It only takes one person to form a Limited Liability Company. You can prepare the and file it yourself, or use a professional legal service. The prices to forming a LLC can vary depending on the state which will charge some type of annual fee to maintain an LLC.

A Limited Liability Company also has an unlimited lifespan and ownership can be transferred to any person you wish.



If you haven't already discovered what a LLC can do for you and your business there a number of available resources online you can explore. A lot of time and effort goes into developing a business and having the proper business structure can be critical for success. To learn more about go to http://www.legaldocumentfinder.com. Kennard McGill is an online publisher and writes articles on numerous topics including online legal services. ]]> What Are Limited Partnership Agreements? http://www.artwoo.com/article/what-are-limited-partnership-agreements http://www.artwoo.com/article/what-are-limited-partnership-agreements#comments Thu, 04 Sep 2008 01:29:22 +0000 limited liability partnershipslimited partnership agreementpartnership sharelimited partnershipslimited partnersjoint and several liabilitygeneral partners http://www.artwoo.com/article/what-are-limited-partnership-agreements hip Agreement, one must first understand the limited partnership. Similar to the hip, the limited partnership consists of one or more general partners and one or more limited partners. The general partners act as would be expected. On the positive side, they manage and control the partnership, share in its profits, use its property, and have authority to bind the other general partners. On the negative side, they are all jointly and severally liable for the debts and obligations of the partnership.

Add to this the limited partners who are, as their name suggests, limited in what they can and cannot do. Limited partners can share in the profits, receiving dividends of sorts. They also can avoid the for the partnership's debts. They cannot, however, bind the partnership, nor do they have management control-usually. But they can sit on the board of directors without being deemed to have management control. Lastly, they are obliged by statute to disclose their status as limited partners to the public, lest unwitting persons think otherwise.

It happens sometimes that limited partners can have management control and the power to bind the partnership, and this leads into the main distinctions between general partnerships and . First, limited partnerships are created not by the intention of the parties but by statute, by filing registration papers with the state. Second, the parties may decide to override the Limited Partnership Agreement by actually endowing the limited parties with rights that they would not normally enjoy. And third, so long as the limited partnership observes certain rules related to limited liability, centralized management, duration, and transferability of ownership, it will benefit from pass-through taxation. Otherwise, it will be taxed like a corporation.

Limited partnerships are also distinguished from . In the latter case, all the partners have limited liability. In the former case, only the limited partners have limited liability; the general partners are still on the hook. To address this hazard, the limited partnership may be set up such that the general partner is actually a corporation or LLC.

Limited partnership Agreements have a number of essential clauses. Because the agreements govern the partnership, it is important for them to be clear and complete. They should address the issues of control and authority-may limited partners manage or bind the partnership? They should also deal the purpose of the partnership, its duration and termination; possible assignment of partnership interests (which are regarded as securities by law; the other partners have right of first refusal, too, where a partner is trying to assign the interest); and money-how to split the profits, how they will be taxed, and how to divide the partnership's debts.

Limited Partnership Agreements are most commonly found in the real estate and entertainment (film) industries, where projects (like constructing a building or making a movie) are of a finite duration and where the duties can be neatly separated. That is, in these situations, the general partners make the investment and control the project, and the limited partners provide the labor and the know-how. All, however, enjoy in the profits-at least theoretically.Mark Warner is a Legal Research Analyst for RealDealDocs.com. RealDealDocs gives you insider access to millions of legal documents drafted by the top law firms in the US. Search over 10 million Documents, Clauses, and Legal Agreements for Free at http://www.RealDealDocs.com]]> The Difference In The Many Incorporation Entities http://www.artwoo.com/article/the-difference-in-the-many-incorporation-entities http://www.artwoo.com/article/the-difference-in-the-many-incorporation-entities#comments Mon, 21 May 2007 17:24:58 +0000 becoming incorporatedsole proprietorshipbusiness entitieslimited liability companythis means thatdoing businesssign contracts http://www.artwoo.com/article/the-difference-in-the-many-incorporation-entities Becoming incorporated is not all that complicated. There are 4 that you can choose from. If you know the difference in the 4 of them, then you should not have any problems knowing which one is for you. However, here is a run down on the entities and what they are.

As is a business entity, and also is sometimes called a , or even a fictitious name. When you have a Doing Business As entity, this business is not separate from you. You the owner are personally responsible for all debt, law suits, and income that comes from this entity. When there is more than one person involved in the DBA entity, that person is also legally liable, and the entity is then known as a partnership.

Regular Corporation is also a type of entity that you may be considering. When you have a corporation, the owners are not personally responsible for any of the company's debt. The regular corporation can purchase real estate, , and can handle its own legal matters apart from the owners.

S Corporation is a entity that a corporation can form after becoming incorporated. With this status, the taxes are then changes so that it is taxed as if it were a sole proprietorship or partnership instead of a corporation.

LLC also known as is an entity that is generally the easiest and cheapest to obtain. It also provides protection for the owners, in the even that the LLC obtained debt, or were to be sued.

While becoming incorporated can be quite confusing to someone that has never owned a company before, it is all quite simple. If you are considering becoming incorporated, just be sure that you know how many people will be in it with you, what name you would like to operate under, and then you can choose which entity is best for you and your business. Find out more about Many Incorporation Entities at http://www.llc-explained.com ]]> Business Incorporation -- Your Guide To The Best http://www.artwoo.com/article/business-incorporation-your-guide-to-the-best http://www.artwoo.com/article/business-incorporation-your-guide-to-the-best#comments Sun, 23 Apr 2006 10:50:04 +0000 limited liability companyincorporating in californiaforming an llcnevada corporationpersonal assetsforming a partnershiplectric law library http://www.artwoo.com/article/business-incorporation-your-guide-to-the-best Lectric Law Library's Lexicon:

A business structure that is a hybrid of a partnership and a corporation. Its owners are shielded from personal liability and all profits and losses pass directly to the owners without taxation of the entity itself.

What should you now before joining in an LLC?

Forming a is more complex than , but is less complicated than forming and operating a corporation. Forming a limited liability company is a formal process.

In a limited liability company, a member's legal liability is limited to his or her investment in the business. Generally, a member's are not at risk, but a member's personal assets may be at risk if any of the following occurs:

A member personally guarantees a business debt. The form of business is found to be a sham (not properly formed or maintained). A member becomes personally liable as a result of his or her own acts or conduct.

Having said that, here are a few links to sites where you can find help for your incorporation or where you can incorporate.

www.executivesolutions.biz

Among the packages and services you can find at Executive Solutions is the opportunity to create a basic . In doing so, you are afforded a Nevada certificate of incorporation, the preparations that create that certificate, a resident agent, and an SS-4 form to get your EIN. Also, you can find the options to create your own LLC. Both the LLC option and the Nevada corporation option come in premium editions, where you pay a bit more but receive a lot more.

www.companiesinc.com

Companies Incorporated offers incorporation services in all 50 States. Whether you are incorporating or , Companies Incorporated is the premier online incorporator. We're located in Southern California extending our relationships with Secretary of State Offices, nationwide. If you are , or any other state, we have walk in services available; California Incorporation has never been easier or safer. Incorporating in California can also be expedited by covering additional state of California incorporation fees. So, Incorporating in California is a breeze when you choose us as your Incorporating agency. So, when you incorporate online, or are incorporating in California, or any of the 50 US states, you can trust the experience that Companies Incorporated has offered since 1977.

www.geccorpservices.com

GEC Corporate Services, LLC, is a professional services organization specializing in nation-wide research, document retrieval, filing and managing all of your Corporate and Uniform Commercial Code requirements. It is a member of the National Registered Agents Inc. (NRAI) Affiliate Network. NRAI is the preferred provider for Fortune 500 companies to start-up businesses. NRAI provides the highest quality professional service at a very affordable price.

www.corporate.com

Founded in 1899 by the architects of Delaware's corporate laws, The Company Corporation has the tools and know-how to make starting and running a business easy and affordable. With more than 100 years of experience, TCC provides a nationwide network, a Delaware-based call center and a wide variety of corporate services. The Company Corporation has the expertise you can trust -- one out of every seven new corporations in the United States turns to us for help in forming their new business.

Please consider protecting your wealth. It just might make the difference between retiring early and not retiring at all! John Thompson is editor of http://www.direct-2-desktop.net/ which offers resources and information on business incorporation. ]]> Just What Is A Limited Liability Partnership And How Can It Benefit Me http://www.artwoo.com/article/just-what-is-a-limited-liability-partnership-and-how-can-it-benefit-me http://www.artwoo.com/article/just-what-is-a-limited-liability-partnership-and-how-can-it-benefit-me#comments Thu, 20 Dec 2007 20:29:59 +0000 limited liability partnershipslimited liability partnershipdeed of partnershipcompany shareholderstaxation issuesmember partnerscompany structure http://www.artwoo.com/article/just-what-is-a-limited-liability-partnership-and-how-can-it-benefit-me s (LLPs).

LLPs do not replace traditional partnerships as a , but are an additional option that limit personal liability if anything should go awry with the business, much in the same way as are able to do.

Excluding exceptions such as instances of wrongdoing or of fraud, the members of a limited liability partnership cannot lose more than they have invested in to the partnership.

Who Should Consider An LLP?

While, in theory, any group of people setting up in business together might choose an LLP, the advantages are confined mainly to certain professions where they are frequently limited from setting up limited company by their professional bodies.

Solicitors, accountants and surveyors are among the most common groups that would most benefit from establishing a Limited Liability Partnership.

Setting Up An Limited Liability Partnership

Setting up a Limited Liability Partnership is fairly straightforward, though a members agreement - sometimes called a - will need to be in place covering the responsibilities of each member.

This agreement covers such things as who is the 'designated member' responsible for signing the annual accounts and acting on behalf of the LLP if it is dissolved in the future. It will also include details of the amounts of money each partner puts into the business and what would happen if one partner leaves the business.

The actually process of setting up the LLP simply requires the newly formed partnership to be registered with Companies House.

for UK LLPs

Limited Liability Partnerships are considered to be 'tax transparent'. This means that the partnership itself, in effect, pay no tax.

Tax is paid by the individual in proportion to the income gained through the partnership.

As with other business structures, the LLP will have to register for VAT once turnover reaches the =A364,000 threshold.

Further, if there are employees who are not members of the partnership, the LLP will have to set up a PAYE system to collect tax and National Insurance contributions for those employees.

Benefits of an Limited Liability Partnership

In short, the benefits of forming a Limited Liability Partnership rather than a Limited Company or traditional partnership are as follows:

1) All the partners in the LLP have limited liability protection.

2) All partners receive partnership tax treatment (there is no entity level income tax).

3) A Limited Liability Partnership allows for more flexibility in splitting partnership profits and losses.

4) The management structure of an LLP is more streamlined than in a limited company.

So, this business structure can benefit not only professionals such as solicitors who would usually set up traditional partnerships but a wide range of businesses.

As it is a fairly new type of company, the advantages are maybe not as well known as for other types of company structures, but you may find it beneficial to talk to a solicitor or accountant about whether an LLP is the best choice for you. Jim Haines works for Just Accountants, a site where UK companies can receive quotes from up to 4 accountants specialising in LLPs. Visit http://www.justaccountants.co.uk/partnerships.html for more details. ]]> Incorporating: LLC, S Corp, or C Corp http://www.artwoo.com/article/incorporating-llc-s-corp-or-c-corp http://www.artwoo.com/article/incorporating-llc-s-corp-or-c-corp#comments Wed, 02 Jul 2008 12:36:22 +0000 limited liability companyscale corporationssmall business ownerc corporationssuccessful small businessentity tablec corp http://www.artwoo.com/article/incorporating-llc-s-corp-or-c-corp successful small business you may have thought about incorporating. You have probably heard of the many benefits that incorporating offers a , but you always heard that setting up a corporation was both expensive and timely. The way it used to be was you would have to go to a qualified attorney specializing in incorporating small businesses. Thanks to the many online incorporating resources available today, incorporating can now be set out at a reasonable cost, and with relative ease. The key to setting up a corporate entity is guidance, which allows you to submit the proper forms to the proper agencies. There is no need to pay an expensive attorney to fill out those forms for you; you can do it yourself with a little bit of research.

The most difficult part of incorporating your business is not the incorporating process itself, but rather choosing an appropriate entity that is suitable for your needs. Some of the common choices include a (LLC), an S corporation, or a oration. This is not a one size fits all choice, what might be appropriate for one small business owner, might be the opposite of what another small business owner needs. You will have to do a little bit of research, as each corporate structure has its positives and negatives. If you take a look at a corporate , you will be able to weigh your needs with the corporate structure that is right for you.

The first corporate structure will take a look at is the C Corporation. A C Corp is what you think about when you think big business. are probably most suitable for large-. The reason being is that they are the most complex to operate. You must hold annual stockholder and Board of Directors meetings, and keep track of corporate minutes. In addition to the more complex record-keeping C corps are the most expensive corporate structure to operate. You will have to file to different tax returns, one for yourself and one for your corporation. Depending on your state you may have to pay additional taxes, like in the case of California. It's also important to realize that double taxation is a possibility, without proper planning, this adds to your costs. Now, these negatives don't come without their positives. C corporations offer the most benefits of all the corporate structures. You get full deductions for health and disability insurance. Full deductions for medical expenses, above and beyond any existing coverage. Stock options are treated favorably, due to capital gains. Moreover, life insurance, pension plans, and dinner allowance are just some of the many benefits available.

The S Corporation offers many of the fringe benefits associated with C corporations, but without a lot of the headaches. You don't have to deal a double taxation, and income and/or losses flow directly through to the owners. You are, however, limited to fewer than 75 stockholders, the stocks must be United States owned, must be a domestic corporation, and only offer one class of stock. Much like to C Corporation you must keep corporate minutes, and you must hold stockholder and Board of Directors meetings annually. The most attractive benefit the S Corp offers is the self-employment tax benefit. With S corporations you can save up to 50% on your Medicare and Social Security taxes. If you make more than the $102,000 (2008 limit) your Social Security savings will be nonexistent.

The Limited Liability Company, or LLC, is popular for many small businesses, as it is the easiest to administrate. You do not have to hold board of director meetings, stockholder meetings, or keep track of corporate minutes. LLC's offer superior liability protection. There are also no restrictions as far as member numbers, foreign investors, like the case is with an S corp. The Limited Liability Company is the preferred choice when it comes to businesses that deal in real estate. Real estate gains are taxed at the capital gains rate within an LLC, whereas C corporations are taxed at the corporate tax rate. Now, the downside to an LLC is that you don't get the self-employment tax benefits. So, if you make considerably less than the $102,000 limit, you may be better off with an S corp. If you are considering a Limited Liability Company it's important to check with your specific state for LLC specific taxes.

The above corporate structures come with their benefits and drawbacks. The important thing when selecting an appropriate corporate entity is to find out what's best for your individual business. We all have different businesses, with different business needs, what might be right for one business owner might be the wrong choice for another. So, make sure to do your homework, when choosing between a LLC, C corp, or S Corp, you and your business will be rewarded.If you'd like more information on incorporating your small business, you can visit the site for specific details. For more on choosing between an LLC, C Corp, or S Corp structure you can get more details on that as well.]]> What Does It Mean To Become An LLC? http://www.artwoo.com/article/what-does-it-mean-to-become-an-llc http://www.artwoo.com/article/what-does-it-mean-to-become-an-llc#comments Sun, 20 May 2007 10:35:01 +0000 paperworklimited liability corporationtax id numberopen a bank accountirssign on the dotted linebusiness entity http://www.artwoo.com/article/what-does-it-mean-to-become-an-llc Limited Liability Corporation or Company is a type of . Which is much like a corporation, just cheaper and less to obtain. When you operate under a LLC, you qualify for a from the , you can also and perform all of your business transactions under your LLC name.

The main advantage of becoming an LLC is that the owners of the LLC are no longer personally liable for any debts or legal matters involved in the LLC. If the LLC were to go bankrupt, the owners would not be liable to pay from their own pockets. The same if the LLC were to be sued for damages. The owners personal property is not at stake, only the assets owned by the LLC.

Becoming an LLC is actually quite simple. The first thing that you would need to do is visit the secretary of the state's website that you are wanting to be an LLC in, and make sure that the name that you are wanting is not taken. Once you have chosen a name that no one else in your state has, you can then print and fill out the paperwork yourself and send it in. Or, you could hire a business attorney to take of this for you. By paying him a small fee, he will draw up all of the paperwork that is needed, and then ask you a short series of questions, have you , fax your paperwork in for you, and you are in business. Simple as that.

If you are considering going into business for yourself, checking into becoming a LLC is a great idea. You never know what the future will hold for you or your business, and it is best to be prepared. Find out more about LLC at http://www.llc-explained.com ]]> Structuring Your Business http://www.artwoo.com/article/structuring-your-business http://www.artwoo.com/article/structuring-your-business#comments Sun, 05 Oct 2008 06:43:32 +0000 new business ideasbeing your own bossaccounting methodspersonal assetspersonal satisfactionfunctional businessbusiness decisions http://www.artwoo.com/article/structuring-your-business accounting methods Handle taxes Protect Unlike other books on the market that only focus on one structure such as corporations or partnerships, Streetwise Structuring Your Business is a comprehensive, up-to-date work that explains all the options in easy-to-follow language. The best place to start structuring your business is a training program.

Business

I am completely positive that structuring your business for growth is the most strategic, lucrative, and best thing you will ever do. Entrepreneurs tend to get very excited about they have, and they often jump the gun and put those ideas into motion without stepping back and taking the time necessary to map out their journey first. By not taking the first few steps necessary to structure your business, you set your self up for defeat. Structuring a business is mentally intensive in the beginning and often requires help from others in order to get extra perspectives. Begin researching what experts in your industry are doing, and how they have structured their business. Understanding good human resources and treating your staff very well is the best thing you can do after your business is structured correctly. Right after you develop what you feel is a structure, let it run for a while without any immediate growth so that you can figure out all of the bumps and problems before you have huge contracts and expenses to deal with.

Limited

Limited Partnerships are basically an entity that runs similar to a trust. These advantages include, but are not limited to: and not having to report to a superior; Creating and developing your own idea, product, or service; Having the independence and authority to make your own ; Receiving and the sense of achievement that comes with being a success, plus the recognition that goes with it; Having the opportunity to create substantial wealth and job security for yourself; Making a living doing something you truly enjoy; Doing something that contributes to the well-being of others, whether it is providing a product or service, providing employment, or doing something else useful that creates value. It all has to do with creating multiple, separate Limited Liability Companies. The general partner has total control of the limited partnership. One person is the general partner, and then he goes out and solicits other people to join him in partnership through contributions to the partnership, and they receive in exchange for their contribution, limited partnership. You're the limited partner, but you don't have the control of the business. You have decided what each one of those limited memberships is worth, or what each general membership is worth.

Corporation

Corporations--A formal business structure that protects business owners from legal and financial liability, and is created according to your state's laws. Corporations may be owned by one or more people. Streetwise Structuring Your Business walks you through the maze of options, including corporations, sole proprietorships, and partnerships. Benefits of Incorporating Your Business Reduce your personal liability Add credibility for your business with a strong business image Increase your tax benefits and lower taxes Tax advantage of deductible employee benefits Obtain easier access to capital Build a separate business credit profile Incorporation Packages Include: Confirmation on the availability of your company name with the Secretary of State. Franchises--May be sole proprietorships, partnerships or corporations whereby the business is operated as part of a large chain. Your business can be classified under the following business structures: Sole Proprietorship Partnership Corporation Franchise. For example, if I wanted to start a corporation, and I didn't have all the money that I needed to start that corporation, I might solicit other people to contribute funds in exchange for stocks in my new business venture.

And, that's the nice thing about properly structuring your business is that you write the rules, and you can protect your lifetime's work by taking a little time now to set up your business properly and to listen to coaching and some guidance and establish the thing the way it should be the first time.For more information about structuring your Home-Based-Business Into a Corporation or other entities, Learn to start your internet business the right way with MlM NetWork Marketing Start Up Course Let this known expert Show you how he recruited 979 members in his organization while building a powerful lead list of 7,280 prospects. Raking in $1,289.340 in 19 months! Visit http://www.newmlmtrafficgeneration.com]]> Limit Your Liability To Protect Your Assets http://www.artwoo.com/article/limit-your-liability-to-protect-your-assets http://www.artwoo.com/article/limit-your-liability-to-protect-your-assets#comments Thu, 13 Jul 2006 04:27:17 +0000 adequate insurance coverageinsurance companyincome taxbankruptextrabusiness coverageinsurance investigators http://www.artwoo.com/article/limit-your-liability-to-protect-your-assets bankrupt you personally?

Here are just a few ways of protecting yourself against catastrophic losses and lawsuits.

1. Obtain

If someone slips on the sidewalk of your home and injures himself, he could sue you for damages. Your tenant`s or homeowner`s policy may cover you for liability in such an event.

However, what if it is your customer who falls on his way to visiting your home-based business? You will need an rider on your house insurance to cover such incidental business use. The extra charge for this additional coverage is well worth it. If you use a car for business use, insure it for such. Some people think that they are being clever writing off automobile expenses for purposes but at the same time not informing the that the car is being used for business.

This is false economy. If you ever get into an accident, police and will certainly find out that you used the vehicle for business purposes. If you`re not paying for , why would the insurance company cover your claim?

As well, what do you think an income tax auditor would think of your claimed business expenses on the vehicle when your insurance policy indicates personal coverage only? Avoid this additional exposure to tax liability.

Be sure to obtain required workers` compensation coverage. Some have been held responsible for all the medical and other expenses of an injured worker, as well as fines for non-compliance to the law. These costs can be quite substantial and even bankrupt you.

Consider obtaining product liability insurance. This applies not just for any products you manufacture but also for products you sell that are made by others.

2. Incorporate Your Business

Insurance may give you some protection against loss. However, you may suffer business losses and lawsuits that may not be covered by your insurance fully. What then?

An extra level of protection can be obtained by forming your own corporation. Even though incorporating yourself will result in extra paperwork and costs, it could be the best insurance you ever bought.

This is because the corporation is a seperate legal entity or person. Even though you may own the corporation, if the corporation operates the business, it is the corporation that will be sued or suffer loss.

If, for example, the corporation had severe business losses resulting in debts that could not be repaid, the corporation would be insolvent. You, as a shareholder, would lose your investment in the company but would generally not be responsible for any of its debts. Thus, you would not have to sell your home or other personal assets to cover the corporation`s liabilities.

On the other hand, there are cases where directors of a corporation can be held responsible for liabilities if they didn`t act responsibly. You can`t hide behind a corporation, commit criminal acts and expect to escape accountability.

3. Protect Yourself With Legal Agreements

Properly drafted written agreements can protect you in many ways. First of all, they can sometimes prevent misunderstandings that can lead to legal problems. Secondly, they may limit your exposure to lawsuits and losses.

Contracts can limit your exposure to liability by including provisions restricting the scope of your work and responsibility, having disputes handled by arbitration rather than through the Courts, and specifying that the maximum damages payable shall not exceed the amount of the contract.

A special area to watch out for is the Internet. There are many laws that impact on websites including matters affecting children, privacy, earnings claims, and unsolicited e-mail (andquot;spamandquot;). Certain agreements and notices on your website may help to protect you.

Protect yourself from catastrophic losses and lawsuits. Take steps today to protect your assets by limiting your exposure to liability. J. Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years. For profitable Work at Home Small Business Ideas, http://www.yenommarketinginc.com/ To see how you can profit from incorporating yourself, visit: http://www.yenommarketinginc.com/incorporation.html ]]> Why Incorporate Your Business? http://www.artwoo.com/article/why-incorporate-your-business http://www.artwoo.com/article/why-incorporate-your-business#comments Fri, 16 Jun 2006 00:32:06 +0000 incorporating your businesssole proprietorshipsingle proprietorshipvastpartnershipbusiness venturebusiness ventures http://www.artwoo.com/article/why-incorporate-your-business business ventures without first looking into the form of business that would be most suitable for them given their business experience and financial capability. Deciding on what legal form your venture is going to take will spell the difference when you experience difficulty in your business later on.

A businessman can choose from different business forms including sole or , or a corporation. Each of these legal forms has their own advantages and disadvantages and a businessman should be well aware of their implications on his business venture.

is the easiest business venture to put up because you only have yourself to disagree with. This means you can go ahead with whatever plans you have and you can implement them anytime. It means that when your venture succeeds then you will reap all the financial rewards of your business. The sad fact is that this can also be a disadvantage since it can also mean that you will shoulder all the losses if the business fails.

A partnership will do well for that require more capital and more skills and expertise. You and your partner can concentrate on the different aspects of the business depending on your skills and talents. A partnership form of business means both you and your partner get to share your financial earnings and losses. However, there could be a problem if the business acquires debts because your creditors can run even after your personal money and not just after the capital infused into the business.

The most ideal, although complicated, type of doing business is the corporation. would mean bringing in other people to the business. This would mean no decision can be reached without the agreement of the majority of the Board of Directors. The good thing about a corporation is the availability of financial resources for the business.

A corporation is a distinct legal entity from its incorporators and shareholders so that in case the business incurs debts, the share or stockholders will only answer for the debts depending on the shares they have in the corporation. This is called the theory of limited liability. The creditors will no longer have any right to seek payment from the personal finances of the stockholders.

A business can start as a sole proprietorship but the owner can chose to incorporate the business later as it grows. True, there are more documentation requirements for incorporating a business but the advantages of incorporating a business far outweigh the disadvantages. The author is a regular contributor to http://www.inc-today.com where additional information about incorporating your business is available. ]]> Benefits of Panama Anonymous Corporations http://www.artwoo.com/article/benefits-of-panama-anonymous-corporations http://www.artwoo.com/article/benefits-of-panama-anonymous-corporations#comments Thu, 03 Jul 2008 21:43:18 +0000 singular purposeprivate interestlegal entitytax returnspanamacorporationsassets http://www.artwoo.com/article/benefits-of-panama-anonymous-corporations Panama is the government's provision on law for protection this entity has been created by the law 32 of 1927. Aside from the assets under the foundation which allows the natural owner to control his assets under the name of the foundation, Panama also provides law on Panama Anonymous Corporation. In fact, Panama is the only country in the world who allows such anonymous existence of corporation for the of operating through the use of actual shares of stocks instead of actual name of the natural owner. With the Panama Anonymous Corporation, the state does not generally know the owner behind the corporation aside from the fact the persons involved in the corporation have the shares.

There are various advantages for establishing Panama Anonymous . One is that the natural owner will have full control of the assets of the corporations that the state or the other persons involved may not know of. The attorneys may know who the owners of the corporation are but they would not know to whom did the owner transfers the shares to. The certificate of stocks of the corporation needs not to have names of the owners or the bearer. What is carries is the number of the certificate. Second advantage is that the corporation is not subject to taxes and does not necessarily have files in Panama. The certificate of stocks are not also limited to be in Panama but can also be carried abroad.

The Panama Anonymous Corporations can still function as a in Panama. However, it does not require registry in the Public Office in Panama because the owners and the members of the corporation are not necessarily recorded and can even be transferred easily. What the corporation needs to do is to contact an attorney that will legalize the operation by identifying the members and the directors. However, among the names and directors, the attorney cannot identify who is the real owner of the Panama anonymous corporation.

As a legal entity, the Panama anonymous corporation can own a property from locations that it chose worldwide. If the corporation wishes to sell, it just has to transfer the corporation's share together with bills signed by the directors of the corporation stating the sale made. Aside from properties, the Panama anonymous corporation can also acquire other assets like cars, equipments, jewelry, and can even own bank account, all without revealing the real names of the natural owners. This way, there is high protection of assets under the anonymous name. But the transactions can be monitored by the attorneys. The required signatories should bear a name which the attorneys will know but will not be revealed if it the natural owner of the corporation. In essence, the Panama anonymous corporation is controlled by the anonymous owner. But the transactions and operations can be assisted by attorneys who ensure that the transactions are legal and valid. A strong communication of the nominated person of the corporation and the attorney is required to make the operation of the corporation possible.About the Author: Laurie Cooper, of Cpanama Real Estate Corp., is an expert on Panama real estate. For more information, please visit http://www.cpanama.com.]]> Professional Liability Insurance For Your Medical Business http://www.artwoo.com/article/professional-liability-insurance-for-your-medical-business http://www.artwoo.com/article/professional-liability-insurance-for-your-medical-business#comments Fri, 29 Sep 2006 02:27:04 +0000 professional liability insuranceliability insurance policiesmedical businessdoctorsmedical professionalmedical workforcemedical field http://www.artwoo.com/article/professional-liability-insurance-for-your-medical-business doctors, nurses, therapists, and pharmacists! You have studied hard, spent thousands upon thousands of dollars to attend school for what probably felt like thousands upon thousands of years, and now you are ready to enter the . You are ready to start working for a , or to open your own medical business. With a scalpel in one hand, a prescription pad in the other, and a stethoscope swinging around your neck, you are ready to cure the sick and save the dying.

However, before you start working, or open your own medical business, you must purchase . Otherwise, you might find yourself paying out thousands upon thousands of dollars -- again.

Remember, professional liability insurance isn't just for doctors and hospitals. Anyone working in the should purchase professional liability insurance.

There are different kinds of professional for you and your medical business, most of which cover allegations of malpractice. As a , you are familiar with professional liability insurance by now, and now that you are ready to start working or to open the doors of your own medical business, it is time to purchase your own professional liability insurance.

The kind of professional liability insurance you purchase for yourself and your medical business will usually depend on your specialty, the location of your medical business, and the demographics of your clientele. Along with your claims experiences and limits of liability you choose, these factors will also go into determining the cost of the professional liability insurance for yourself and your medical business, as well.

Search for professional liability insurance for yourself and your medical business based on the factors, and you can start by calling your state's insurance bureau and asking for information about professional liability insurance for medical professionals and medical businesses. They will be able to walk you through the steps of purchasing professional liability insurance. http://www.myquoteguide.com/Car-Tips.shtml http://www.ezquoteguide.com/home/ http://www.ezquoteguide.com/car/ ]]> Incorporation and Combination to Eliminate Risk http://www.artwoo.com/article/incorporation-and-combination-to-eliminate-risk http://www.artwoo.com/article/incorporation-and-combination-to-eliminate-risk#comments Sat, 29 Nov 2008 04:29:27 +0000 cheap insurance ratessole proprietorshippersonal assetsingenious devicescale enterprisecorporate enterpriseunlimited liability http://www.artwoo.com/article/incorporation-and-combination-to-eliminate-risk sole proprietorship, but is through the holding of shares of stock. The corporation has been defined as "an for obtaining individual profit without individual responsibility." The corporation has to its creditors to the extent of its assets.

The stockholders, however, if their shares of stock are fully paid for, have no liability beyond the extent of their investment in the stock. Creditors of the corporation have no recourse against the of the shareholders. The corporation makes it unnecessary for an investor to place his entire personal estate at risk in order to invest part of it in one enterprise. If the corporation had not been developed, it seems doubtful that large- as we know it today would have been possible.

It is often easier to find 1,000 men willing to risk $500 each in an enterprise than it is to find one man willing to risk $500,000. The investor is willing to share the risk by shifting part of it to others. Included in those who bear the risk of are not only the owners, whose liability is limited, but also the creditors, who stand to lose if the corporation cannot survive.

Risk May Be Reduced by Combination

There are various methods of reducing risks through combination. In the previous examples, methods have been explained that can be used to assume risks or to shift them. None of these methods, however, reduces risk. They merely try to cushion the blow or else to see that the blow hits someone else. The methods to be discussed in this section actually succeed in making quantities of risk disappear. By combination, and the proper protection (such as homeowners insurance, http://cheap-insurance-rates.com/home/birmingham.cfm), risks can actually be reduced.

One method of reducing risk by combination is through large-scale operation. A man who has erected his own telephone pole for intrablock communication will be out of the telephone business if lightning should strike this pole. His risk is great. But the American Telephone and Telegraph Company, with its millions of poles, does not have this worry. Because of its large-scale operations, it can predict rather accurately the number of poles that it will lose each year--through lightning, termites, and motorists. Its risk has been reduced through its growth.

A second method of handling risk by combination is insurance. This is the method with which we are most concerned. The home owner knows that some houses will burn. He is uncertain, however, as to whether or not his house will burn. He is also uncertain as to the loss he will suffer if fire does break out. He cannot set up a reserve to meet these losses, since that method, as we have seen, does not work when there is only one piece of property involved.

He might, of course, buy 10,000 other houses so that his loss would be a little more predictable; but most home owners are not in a position to make this outlay. He can achieve the same end, however, by combining his risk with the risks of millions of other home owners through the services of an insurance company. This is why there are so many opportunities to get an instant homeowners insurance quote (http://cheap-insurance-rates.com/home/) from so many competing insurance companies.

When risks are combined in this way, losses become more predictable; and the risk is reduced. Each member of the group then knows what his share of the loss will be. He can budget for this small fixed amount, knowing that this charge is the most that a fire can cost him. Property losses resulting from a fire will be paid from the group funds.

The situation in life insurance is comparable: "Nothing more certain than death; nothing more uncertain than the hour of death." There is always the possibility that even the healthiest man may die this year, but whether the possibility will become a reality in a particular case is unknown. By combining the premature-death risk of one man with those of millions of others, the uncertainty can be eliminated. Each individual's share can be determined exactly and spread equitably among the members of the group.Sarah Martin is a freelance marketing writer based out of San Diego, CA. She specializes in business, finance, and homeowners insurance. For an instant homeowners insurance quote, please visit http://cheap-insurance-rates.com/.]]> Understanding LLCs - The Ups And Downs Of Incorporating http://www.artwoo.com/article/understanding-llcs-the-ups-and-downs-of-incorporating http://www.artwoo.com/article/understanding-llcs-the-ups-and-downs-of-incorporating#comments Fri, 18 Aug 2006 22:27:16 +0000 personal bank accountssole proprietorshippersonal assetsforming an llcestimated taxeslimited liability companiesstarting an internet business http://www.artwoo.com/article/understanding-llcs-the-ups-and-downs-of-incorporating starting an internet business, you're starting an actual business--and that means constructing a legal entity, usually a , a LLC, or a corporation. By default, you have a sole proprietorship, but this formation offers you little in the way of protection or tax benefits. So what about your other options?

(LLCs)

• The Upside: Your aren't exposed in a lawsuit relating to your business. This is especially important if you sell products that are costly, or inherently risky, like heavy machinery or used manufacturing equipment. With an LLC, an unhappy customer can only sue your business; they cannot come after your personal assets, such as your home, cars, or .

• The Downside: You, as an owner, are legally unable to draw a salary. You may, instead, take a percentage of the company's profits. This usually means that, after the business expenses are paid each month, you and any partners equally divide the remaining profits. But you need to remember that, because you don't deduct taxes from a regular paycheck, you have to pay once a quarter. So you need to be escrowing between 30-40% of your gross income--otherwise, when your taxes are due, you'll to be in serious trouble.

Corporations

• The Upside: A corporation may work best for you if you have more than a few employees and are contemplating setting up a benefits program for them. According to attorney Cliff Ennico (http://www.cliffennico.com), "You may get a bigger bang for your tax dollar by setting it up as a corporation... [because] you can do a lot more creative things with benefit programs. LLCs are limited in how they can deduct things."

• The Downside: Forming a corporation is significantly more costly. It can cost double or more than .

How Do I Get Started?

"There are some excellent services online right now that can help you [get] set up," says Ennico. http://LegalZoom.com and http://MyCorporation.com both have solid reputations. However, be very careful because there are also many sites that will only take you through two or three of the five or six steps that are required for you to become fully incorporated. You don't want to find yourself being audited because your "service providers" didn't tell you that you have to register for sales tax in your state.

An attorney is a more costly alternative, but they take you through every step of the process. If they miss anything, they're liable for malpractice and can lose their licenses, so they're very motivated to make sure you're set up correctly. When forming an LLC or corporation, you should never pay an attorney by the hour. Any lawyer who's been practicing for any length of time knows exactly how long this process will take them, and should be charging you a flat rate that includes all out-of-pocket costs and filing fees.

People are often surprised and somewhat nervous to realize there are legal implications to establishing a business, but it's not all that complicated. It's just a matter of choosing the business structure that provides the best tax advantages and legal protection, and then getting set up accordingly. Chris Malta and Robin Cowie of WorldwideBrands.com are the Writers and Hosts of The Entrepreneur Magazine EBiz and Product Sourcing Radio Shows. http://www.worldwidebrands.com/EMRinfo for more FREE eBiz info from Entrepreneur Magazine Radio! ]]> Affordeable High Risk Car Insurance Online http://www.artwoo.com/article/affordeable-high-risk-car-insurance-online http://www.artwoo.com/article/affordeable-high-risk-car-insurance-online#comments Wed, 12 Mar 2008 22:20:00 +0000 minimum liabilitystate liabilitymedical paymentsliability policyliability insurancetypes of insurancedistinct possibility http://www.artwoo.com/article/affordeable-high-risk-car-insurance-online types of insurance to choose from (although there are many variations). You can choose to buy either full-coverage or you can choose to purchase a less-expensive but higher risk insurance.

If you are trying to save money you may decide upon the affordable high risk limited liability car insurance.

Each state sets its own minimum limits on the amount of that its drivers must purchase, so the amounts in the following example of a basic may not apply to your state.

Liability insurance is always expressed as 3 numbers in the form of: 10/20/10. In this example the first "10" means that the insurance will pay a maximum of $10,000 in to any one individual injured by your vehicle. The "20" refers to the fact that the insurance pays a maximum of $20,000 in medical payments for any one accident regardless of the number of people involved, and the final "10" means that the insurance will pay a maximum of $10,000 in property damage for any one accident. Property damage includes, but is not necessarily limited to, the repair or replacement of the other person's car.

What makes this type of insurance high risk is the fact that the amount of coverage is rather low, making it a that your basic liability coverage may not fully pay for all of the medical bills or the property damage caused by an accident. If that should be the case you may be held personally responsible for paying the difference out of your own pocket or purse. This could mean the depletion of your savings or even the forced sale of your home.

The other thing which makes a basic liability policy high risk is the fact that liability insurance pays nothing whatsoever toward the repair of your vehicle after an accident and it also does not pay for your medical bills or for the medical expenses of anyone riding in your vehicle.

It is possible to buy liability insurance with limits higher than the minimum amount required by your state - but the cost will be higher. You could also buy full coverage insurance, which includes collision, comprehensive and personal injury protection insurance in addition to liability insurance. Often a full coverage package also includes uninsured motorist protection. Again, the cost for a full coverage policy is higher than it is for a basic minimum liability policy.

The best place to find truly affordable high risk car insurance is online. You've probably seen the sites that allow you to compare the cost of car insurance from a number of different companies. The trick is to find at least 3 of these websites and fill out the form on all 3 of them, not just one site. In this way you will see the prices from many more companies and you have a better chance of finding the truly lowest possible price.

Also remember to answer the questions on all 3 sites the same way so that you are comparing the same policy on all three sites.

The final step is to compare all of the prices you have gotten and simply choose the lowest price you've found. That's it! You're done! View some great sites that we recommend for saving a lot of money on insurance http://www.EzQuoteGuide.com http://www.RecommendedInsurance.com ]]> Entrepreneur's Beware! http://www.artwoo.com/article/entrepreneurs-beware http://www.artwoo.com/article/entrepreneurs-beware#comments Wed, 10 Sep 2008 08:22:27 +0000 limited liability corporationtrue entrepreneurtax deferralsole proprietorstarting your own businesspersonal assetsbusiness deduction http://www.artwoo.com/article/entrepreneurs-beware starting your own business. Working for others may be a necessity so you can get on your feet, gain some experience and a book of business, and move forward securely, but it is hardly the ideal for a who has the spirit and passion to go out on their own.

While this entreprenerial spirit can be positive, and indeed most of the great pioneers in American history have been truly entrepreneurial in nature, this personality type does lend itself to some signficant flaws. Primary among them, entrepreneurs are often too positive in nature, too willing to take on risks that maybe they should not, and too passionate to move forward without often doing the necessary research to do so in the best manner possible.

This is often true with regard to the structure of the business. Indeed, many entrepreneurs do not even bother incorporating. Especially for an online venture where it is simply too easy to open a new website to try selling a new product or service, the process of incorporating can seem to just "get in the way" of going ahead and making money!

However, there are some very important advantages to incorporating a business, and a good entrepreneur would be wise to take heed before moving forward. One advantage is that if your business is a , this means your individual assets are not at stake as they would be if you were the . As a shareholder, your risk is determined by the amount you have invested. What belong to the company belongs to the company, and what belongs to you belongs to you-- you will not be risking your own .

Second, there are some tax advantages to incorporation. When your business's tax credit is applied, your taxable income is likely to be significantly lower than it would be without this . You will also be eligible for . While these are important points in general, they are even more beneficial to a business which is relatively new and not yet secure in its financial assets. When your business is incorporated, dealing with your annual income taxes will involve a little less money and much less worry.

Incorporating your business has the potential for helping your business to grow. This can cover a variety of aspects from attracting more customers to making more sales to having your business more widely recognized. Your small business simply has the potential of doing more business and better business if it is incorporated. While it is not a guarantee, there usually is a much higher responsiveness to a limited liability corporation than to a business that is a sole proprietorship.

If you have decided, or are considering, incorporating your small business, it is wise to seek assistance from an attorney. While incorporating your business is not extremely difficult, there are many steps and much paperwork necessary for this process, and the process will be easier and accurate if you do not try to do it all on your own.

All in all, the entrepreneurial spirit and the American Dream are what keeps this country moving forward. It is wonderful, and nothing should take that away from a true entrepreneur. But, that does not mean that you should not move forward with caution, and with respect to first setting up your business structure properly and legally, could mean the difference between success and failure.Sandy Pensner has been an entrepreneur for a number of years, and has set up numerous entities. She lives in Atlanta, Georgia, and consults with the Incorporation Specialists at http://www.formacorpga.com as well as the Atlanta Attorneys at Persily and Associates]]>