Shorten Your Journey to Business and Personal Success

Written by Judy Cullins

Continued from page 1

Aren't there any other matters to consider in deciding whether to incorporate or not?

Higher administration costs to comply with company law, payroll and bookkeeping is one factor. Another issue is pension planning. Extracting profits out ofrepparttar company as dividends rather than salary means that there will be no "net relevant earnings" and therefore pension contributions can't be made. Butrepparttar 109467 advent of stakeholder pension plans has meant that contributions up to œ3,600 per year can be made withoutrepparttar 109468 need for any earnings. If a person does not wish to transfer funds in existing plans into stakeholder because of high charges, there is a way out:repparttar 109469 best net relevant earnings (i.e. salary) in five consecutive years can be used for making contributions forrepparttar 109470 next five years, even if there were no salaries inrepparttar 109471 remainder four years. It is comforting to know that entitlement to basic state pension is not affected by taking a salary fromrepparttar 109472 company atrepparttar 109473 level of a person's personal allowances i.e. œ4,615.

Furthermore, an individual may decide not to bother with pension plans and instead invest in ISA. Often, these can be more efficient than pensions but that's besiderepparttar 109474 scope of this article. If that option is taken, no salary is necessary.

Another factor is business motoring. It might be tax advantageous for an unincorporated business that owns many cars not to incorporate because if these cars have some private use there will be benefits in kind taxed onrepparttar 109475 users. These are generally higher thanrepparttar 109476 straight apportionment between private and business for all car running costs inrepparttar 109477 case of sole traders.

The conclusion is that there can be considerable tax savings waitingrepparttar 109478 sole trader who decides to go downrepparttar 109479 road to incorporation. But, one needs to proceed with caution and careful planning. And don't forgetrepparttar 109480 biggest advantage of incorporation, which is Protection from Personal Liability. Incorporating is one ofrepparttar 109481 best ways to protect a business owner from personal liability. Shareholders of a company are generally not liable forrepparttar 109482 obligations ofrepparttar 109483 company. Creditors of a company may seek payment from its assets, but notrepparttar 109484 assets ofrepparttar 109485 shareholders. This means that business owners may engage in business without risking their homes or other personal property.

Thank you for takingrepparttar 109486 time to read this Article. I hope you've found it useful. If you have, please drop me an email and let me know what you think.

You can email me at...

Alternatively, you can visit our website at and read a series of other full length articles that presentrepparttar 109487 complete picture on a variety of interesting topics.

If you would like to know how to save tax and make sure that more of your hard earned cash stays with you to expand your business and increase your profits, we have a Free Special Report addressed to small businesses either starting up or already in business. This Exclusive Free Special Report is available automatically when you subscribe to our regular series of Free Newsletters on finance advice and tax planning by visiting our subscription area on our website It is complied from real life situations dealing with small business tax affairs for over 10 years and it is loaded with down-to-earth advice and practical, understandable examples.

LEGAL NOTICE Whilst every care has been taken inrepparttar 109488 preparation of this article,repparttar 109489 author cannot accept responsibility for any errors or omissions. Proper professional advice should be taken at all times.

We retain copyright forrepparttar 109490 contents of this article. Any unauthorized copying or onward distributions are prohibited without our consent.

Judy Cullins: author, publisher, book coach _Ten Non-techie Ways to Market Your Book Online_ _Write Your eBook or Other Short Book-Fast!_ Subscribe to FREE ezine "The Book Coach Says..." Email:


Written by Stupidman

Continued from page 1

Using this valuable technique, I copyrepparttar instructions on how to copy a file. (I'm a lot more comfortable with hard copy in one hand while I hitrepparttar 109466 wrong keys withrepparttar 109467 other.) (In a future article I'll describe some ofrepparttar 109468 experiences I've had withrepparttar 109469 Alt key.)

Instructions in hand, I try to copyrepparttar 109470 file/book. Unfortunately,as I found outrepparttar 109471 next day,repparttar 109472 instructions were written for PKzip while I have Winzip. But 30 minutes later,mostly due to hesitancy and gaseous dog phobia, I end up with a good copy ofrepparttar 109473 book by followingrepparttar 109474 instructions within Winzip.(I really don't know how it happened asrepparttar 109475 memory is very blurred.)

A word of caution to members ofrepparttar 109476 tribe of Stupidman who are readingrepparttar 109477 book. Chapter 3 is very technical and full of alphabet soup. If you are like me you will be less stressed if you readrepparttar 109478 last screen of Chapter 3 (the material inrepparttar 109479 yellow box) before you readrepparttar 109480 rest ofrepparttar 109481 chapter. (It's ok to do this,it's not like readingrepparttar 109482 last page of a mystery when you are inrepparttar 109483 middle ofrepparttar 109484 book.)

Coming Soon: Stupidman Brands,Sends Email Attachment Stupidman Creates SIG File,Opens Lock

The Internet Adventures Of Stupidman Will Put A Smile On Your Face

WEBMASTERS AND EZINE PUBLISHERS You may reproduce this article on your site, or link to this page, or reprint it in your Ezine. We ask only that you reproducerepparttar 109485 article intact, includingrepparttar 109486 resource box and that you notify us ofrepparttar 109487 date and place ofrepparttar 109488 publication. Copyright 2002, Skidthrough Enterprises

Stupidman's funny tutorial about building his website from scratch. 16+ sequential articles.

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