If you are going to be hiring employees for your company, you will need to report these employees to avoid paying expensive penalties from the department of revenue. Amongst needing an unemployment tax account number, you will need these documents as well. The Law Offices of Nick Spradlin, PLLC. can prepare a handy pack of ten for you. They have all of this information on their site as well at http://www.nickspradlin.com.
Showing posts with label Nick. Show all posts
Showing posts with label Nick. Show all posts
Friday, September 18, 2009
Wednesday, September 16, 2009
Setting up an S elected company
Just to let you guys know, I am not an attorney.
Now, on to this topic. Setting up a sub chapter S apparently can help you pay less taxes because you are set up as a small busienss. Originally you would pay 15.3% in taxes, but if you make your company a Sub Chapter S Company, you can actually pay half of those taxes. Now, I know some people are on a higher tax bracket so I wouldn't know what level you would be placed on in this case. In order to set your business up as a Sub Chapter S, or S elected company, you must be a citizen or permanent resident of the United States.
This next bit of information can be found on http://www.nickspradlin.com on any of their secure order forms.
"The Sub-Chapter S Corporation allows the Shareholders to avoid having their profits taxed twice because there are no corporate taxes with a Sub-Chapter S Corporation. This type of Corporation also allows the owner to avoid the majority of his/her profits from being hit with a self employment tax. Lastly, the Shareholders of an S-Corporation are able to write off their losses on their personal taxes, even against separate income (money from other employment or a spouses income on a joint return.) If you want your business to have these major tax advantages the cost is only an additional $60. We will complete the Federal requirements and draft the Corporate articles, bylaws, resolutions and stock certificates to reflect the companies status as an S-Corporation. "
Honestly, I don't know why ANYONE would want to set up a business without one of these, but like all things, there must be reasons.
To set up an S-elected business you have to submit a form to the IRS (www.irs.gov) . You can submit it through the mail. The Law Offices of Nick Spradlin will fill this form out for you and make it ready for you to mail. You simply mail it in and wait for a response from the IRS. This will turn your corporation or LLC inro a 1120s 2553 instead of the original 1120 corporation or Schedule C \ 1065 partnership LLC.
Again, all of this information can be found online in their site on their forms and under the more information pages.
I will keep trying to find more information that I can post on this blog.
Thanks for viewing!
Now, on to this topic. Setting up a sub chapter S apparently can help you pay less taxes because you are set up as a small busienss. Originally you would pay 15.3% in taxes, but if you make your company a Sub Chapter S Company, you can actually pay half of those taxes. Now, I know some people are on a higher tax bracket so I wouldn't know what level you would be placed on in this case. In order to set your business up as a Sub Chapter S, or S elected company, you must be a citizen or permanent resident of the United States.
This next bit of information can be found on http://www.nickspradlin.com on any of their secure order forms.
"The Sub-Chapter S Corporation allows the Shareholders to avoid having their profits taxed twice because there are no corporate taxes with a Sub-Chapter S Corporation. This type of Corporation also allows the owner to avoid the majority of his/her profits from being hit with a self employment tax. Lastly, the Shareholders of an S-Corporation are able to write off their losses on their personal taxes, even against separate income (money from other employment or a spouses income on a joint return.) If you want your business to have these major tax advantages the cost is only an additional $60. We will complete the Federal requirements and draft the Corporate articles, bylaws, resolutions and stock certificates to reflect the companies status as an S-Corporation. "
Honestly, I don't know why ANYONE would want to set up a business without one of these, but like all things, there must be reasons.
To set up an S-elected business you have to submit a form to the IRS (www.irs.gov) . You can submit it through the mail. The Law Offices of Nick Spradlin will fill this form out for you and make it ready for you to mail. You simply mail it in and wait for a response from the IRS. This will turn your corporation or LLC inro a 1120s 2553 instead of the original 1120 corporation or Schedule C \ 1065 partnership LLC.
Again, all of this information can be found online in their site on their forms and under the more information pages.
I will keep trying to find more information that I can post on this blog.
Thanks for viewing!
Tuesday, September 15, 2009
Getting a Tax ID for your company.
Need to get a tax ID for your company? I have tried doing it before myself and have also come across certain problems where I may have missed something or placed something into the forms the wrong way. The same law office that opened my business had done this for me and acquired it very quickly and sent me the form filled out WITH my tax ID already on it! Why go through all of the trouble to do this when it can be done by someone else for so cheap! I love this place and I reccomend anyone to use their services.
You need a Tax ID so that you can open a bank account.
You would also need to have a company set up so that you can get the articles of incorporation/organization that are also needed to set up a bank account. The Law Offices of Nick Spradlin will also be able to help you to set up a company and acquire these articles.
Go to http://www.nickspradlin.com/ and they can do all of the work for you. They are very convenient.
Simply put, when you are looking for a tax ID to open a bank account in any state, and you don't have the time to go to the tax office, or figure out a way to do this, you can call them and they will definitely help you. They helped me!
There are other ways to do this, like going to http://www.irs.gov/ and ordering forms, or filling an online form. Like I said, if you have the time, go ahead and do it. To me it was rather tedious though.
You need a Tax ID so that you can open a bank account.
You would also need to have a company set up so that you can get the articles of incorporation/organization that are also needed to set up a bank account. The Law Offices of Nick Spradlin will also be able to help you to set up a company and acquire these articles.
Go to http://www.nickspradlin.com/ and they can do all of the work for you. They are very convenient.
Simply put, when you are looking for a tax ID to open a bank account in any state, and you don't have the time to go to the tax office, or figure out a way to do this, you can call them and they will definitely help you. They helped me!
There are other ways to do this, like going to http://www.irs.gov/ and ordering forms, or filling an online form. Like I said, if you have the time, go ahead and do it. To me it was rather tedious though.
Monday, September 14, 2009
How to Incorporate in Florida
Hi,
I incorporated in Florida not too long ago. It wasn't as hard as I thought it would be with some help. At first I had the issue of not knowing exactly what to do. I had questions like where do I get started, what paperwork do I need to incorporate, and what steps do I have to take to make my business ready and complete. I couldn't really find any site online that could answer all of these questions so I ended up calling a few law offices and it came completely clear. The one office that I called that helped me over the phones was The Law Offices of Nick Spradlin. They had many locations in Florida and they were also attorneys. Luckily, they were also located near to where I live.
I ended up using their services to start my company. They did everything for me for an extremely low price! They simply asked me for all of the information for my commpany. (Who would own it, how many members would be part of the company, and who would manage it.) They were also able to do some other legal work for me. I acquired my Tax ID number, my sales tax ID, my workers compensation documents and many more things.
If anyone out there is having trouble starting their business and they need an affordable solution, contact these people. Their number is 877-845-0621. You can also find their site at http://www.nickspradlin.com. Great law servces at an amazing low price. I owe my sanity to them ;]
-Gonz
I incorporated in Florida not too long ago. It wasn't as hard as I thought it would be with some help. At first I had the issue of not knowing exactly what to do. I had questions like where do I get started, what paperwork do I need to incorporate, and what steps do I have to take to make my business ready and complete. I couldn't really find any site online that could answer all of these questions so I ended up calling a few law offices and it came completely clear. The one office that I called that helped me over the phones was The Law Offices of Nick Spradlin. They had many locations in Florida and they were also attorneys. Luckily, they were also located near to where I live.
I ended up using their services to start my company. They did everything for me for an extremely low price! They simply asked me for all of the information for my commpany. (Who would own it, how many members would be part of the company, and who would manage it.) They were also able to do some other legal work for me. I acquired my Tax ID number, my sales tax ID, my workers compensation documents and many more things.
If anyone out there is having trouble starting their business and they need an affordable solution, contact these people. Their number is 877-845-0621. You can also find their site at http://www.nickspradlin.com. Great law servces at an amazing low price. I owe my sanity to them ;]
-Gonz
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