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We Incorporate Your Business; Sole-Proprietorship, Partnerships Conveniently located in West Los AngelesBenefits of Incorporating: By incorporating your business you’re protecting your assets as well’s as your family assets from creditors, lenders, and public in general that potentially will take action to bring law suites against you for any disputed claims. The only assets that could be in danger of a law suit after you are incorporated are the assets that you have pledged to business and none of your other personal and family assets are at risk when you incorporate. Other benefits of incorporating a business. Under the corporate structure or being incorporated, you’re considered an officer and you salaries are tax deductible expense to the corporation and your social security and Medicare get funded faster. You can deduct all the health insurance expenses that cover you and your employees and their families. Finally, it seems that having an INC. (Incorporated) or LLC (Limited Liability Company), at the end of your name gives you a certain recognition and professional outlook. People in general perceive the corporations (companies that are incorporated) as big and permanent compared to sole proprietorships and partnerships. But remember the biggest advantage by far is you’re PROTECTING YOUR ASSETS AND YOU’RE FAMILY ASSETS by Incorporating. Tax services include; individuals, S-Corps, C-corps, partnerships, LLCs, Trusts, Estates, and Fiduciaries quarterly and annual tax returns. Why should you incorporate? Before and up to the October 17, 2005, the personal bankruptcy laws were to protect people to discharge their entire debt in most cases under the chapter 7 bankruptcy provisions. After that date, which the new bankruptcy laws went into effect and drastically changed the dynamics in favor of creditors. For one thing, before you attempt to file for bankruptcy protection, you have to attend some lengthy credit counseling classes offered by the certified schools. On the other hand the new laws have given a lot of discretion to judges in steering the cases into chapter 13 rather that chapter 7. Chapter 13 is the reorganization and you’ll have to repay the debt over some period of time set by the bankruptcy judge. Traditionally, you could stretch the debt for long periods of time with a very low payment that you could afford. Now, there are specific timeline that judges will set in order for the debt to be repaid. So, you cannot rely on current personal bankruptcy laws to protect you from the creditors. As matter of fact most bankruptcy lawyers are not practicing the personal bankruptcies because they cannot be effective under the new laws. Accounting Services include; book keeping, monthly financial statements, payroll services, bank reconciliation, sales tax returns, estimated corporate payments and compliance procedures for both the Internal Revenue Service, and the various state agencies. Call NOW! 310.478.1010
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