Starting A Business (2 - 3)

Written by Michael Herman

Continued from page 1

You will need to select from various types.

The two typical corporations that most CPA's or attorneys will recommend are S and C corporations.

You should keep in mind that every state has different laws for corporations.

What an lawyer may tell someone in California may not be true in Florida.

S Corporation: - Allows for limited liability ofrepparttar owners/officers/directors.

-Typically runs on a calendar year.

- Full disclosure of corporate owners.

- Profits pass through torepparttar 116811 individual tax return 1040. No tax brackets separate fromrepparttar 116812 personal tax brackets apply.

- All profits are taxed even if not distributed.

- State taxes will apply for individuals who are located in a state with an individual state tax.

C Corporation - Allows for limited liability ofrepparttar 116813 owners/officers/directors.

- Runs on a fiscal year, which may be designated byrepparttar 116814 board of directors, rather than on a calendar year . - Nevada requires no disclosure of corporate owners.

- Profits are taxed at corporate rates on an 1120 return separate fromrepparttar 116815 individual return.

- Profits can be kept as retained earnings.

When this article resumes, I'll go overrepparttar 116816 accounting and taxation needs of a business. Look forward to seeing you then.

This article on STARTING A BUSINESS? is not "professionally" advising you on business matters, or business agreements. If you have any concerns in regards to your business, I would advise consulting an attorney.

Working at Home Ideas and Information 269 Portico Aisle Irvine, CA 92606

This article was written by Michael Herman, a CPA. Michael publishes the Working At Home Gazette - A Powerful Tool for those who already are, or Planning to, Working at Home

Starting Your First Home Based Business

Written by Kirk Bannerman

Continued from page 1

It takes a lot of time to successfully market and promote a new business. Starting out a new business withrepparttar expectation of earning a full time income from a part time effort is not very realistic and is likely to lead to disappointment.

If you are planning on starting a home-based business withrepparttar 116810 intention of spending a great deal of time with young children or caring for a sick or elderly family member, a full-time home business (and income) may not be a realistic objective from a time availability standpoint. Try to reconcile your income expectations withrepparttar 116811 amount of time that you have available to devote to starting your home business.

You can expect to experience periods of doubt inrepparttar 116812 early stages of developing your business...did I pick a viable business opportunity? I doingrepparttar 116813 right things to develop my business?...when will I start making a profit?, and so on.

A person working at a home based business may also experience occasional periods of feeling isolated...a feeling which is probably brought on byrepparttar 116814 lack of interaction of a work force or office environment.

Whatever type of home based business that you choose to start, you can rest assured that there will be some bumps inrepparttar 116815 road leading to your success. You should expect to experiencerepparttar 116816 "two steps forward and one step backward" thing and try to avoid repparttar 116817 ever-looming temptation to become overly discouraged when you take one of those backward steps. It is very easy to lose sight ofrepparttar 116818 obvious fact that as long as you have more steps forward than backward you will eventually get ahead!

Kirk Bannerman operates a successful home based business and coaches others seeking to start their own home based business. Visit his website at Legitimate Home Based Business for more details.

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