Debt Relief Information

Article Navigation

Click Here for more articles

Incorporating Your Business Using Three Simple Steps

by: Abe Cherian

You may publish this article in your ezine, newsletter on
your web site as long as the byline is included and the
article is included in it's entirety. I also ask that you
activate any html links found in the article and in the
byline. Please send a courtesy link or email where you
publish to: support@multiplestreammktg.com

-------------------------------

Incorporating Your Business Using Three Simple Steps
By Abe Cherian
Copyright ? 2005

Incorporating your business today is much easier than it
was 10 or even 20 years ago. Here's three steps; securing
your corporate name, filing the necessary documentation and
paying the necessary filing fees. You can complete these steps
yourself, use an incorporation service provider or have an
attorney complete them for you.

When incorporating, you must first ensure that your
corporate name is available in the state in which you want
to incorporate. Your corporate name must not be deceptively
similar to a name that is already in use in that state. A
name check must be performed in the state of incorporation.

You must also prepare and file all the necessary
documentation. the Articles of Incorporation, with the
appropriate state agency in the state of incorporation.

Additionally, you must pay all state filing fees, initial
franchise taxes and any other initial fees. Each state
charges a filing fee to form your corporation in that
state. These state filing fees vary greatly by state. They
range from under $100 to over $400.

Do It Yourself. Use An Incorporation Service Provider Or
Use An Attorney. If you decide to incorporate on your own,
you need to be well versed in the laws of the state of
incorporation. You will need to prepare and file your own
documentation and undertake all communications with the
necessary state agencies.

If you use an incorporation service company, you submit the
necessary information, and the company checks your name,
prepares and files your documents and pays the initial
state filing fees on your behalf.

Incorporation service companies charge a nominal service
fee on top of the state filing fees, and you can submit all
the necessary information to them over the Internet.
Attorneys will also undertake all of the necessary steps
for you. If you use an attorney to incorporate, you can
expect to pay their hourly fee on top of the state filing
fees.

How long this will take depends on the time the state
requires to approve and return your completed Articles of
Incorporation varies by state. On average, it takes 4-6
weeks to become incorporated.

Most states will allow you to expedite the filing process
for an additional charge. Expediting filings typically take
about 1 week. Those charges also vary by state.

After your corporation is formed, an organizational
meeting of directors must be held. At this meeting bylaws
are adopted, stock is issued and the incorporation process
is completed. Minutes of the organizational meeting should
be kept in a corporate record book.

Incorporation is an important step in the life of a
business, but unfortunately the true value of incorporating
a business is often not seen until the business faces a
negative situation such as a law suit or bankruptcy. A
primary advantage of incorporation is the limited liability
the corporate entity affords its shareholders "The Owners".

Typically, shareholders are not liable for the debts and
obligations of the corporation. Creditors will not come
knocking at the door of a shareholder to pay debts of the
corporation. In a partnership or sole proprietorship the
owner's personal assets may be used to pay debts of the
business.

Other Advantages include

�� A corporation's life is not dependent upon its members.
A corporation possesses the feature of unlimited life. If
an owner dies or wishes to sell their interest the
corporation will continue to exist and do business.

�� Retirement funds and qualified retirement plans "like
401k" may be set up more easily with a corporation.

�� Ownership of a corporation is easily transferable.

�� Capital can be raised more easily through the sale of
stock.

�� A corporation possesses centralized management.

Corporations are not without disadvantages. The primary
disadvantage to a corporation is double taxation. Profits
of a corporation are taxed twice when the profits are
distributed to shareholders as dividends. They are taxed
first as income to the corporation, then as income to the
shareholder.

All reasonable business expenses such as salaries are
deductions against corporate income and can minimize the
double tax. Further, the double tax can be eliminated by
making the S corporation election with the Internal Revenue
Service.

Other Disadvantages Include

�� There is a certain level of complexity and expense of
forming a corporation.

�� Corporations have extensive record keeping requirements.

�� Operating a corporation across state lines requires the
corporation to qualify to do business in the other state.

Both the Limited Liability Company "LLC" and "S"
corporation also provide the limited liability to the
owners/shareholders of the company, without the potential
disadvantage of double taxation. While like corporations
these two entities also have advantages and disadvantages,
it is a good idea to learn about all three when deciding
what form your business should take.

About the author:
Abe Cherian is the founder of Multiple Stream Media,
a company that helps online businesses find new
leads and more customers without spending a fortune.

Circulated by Article Emporium

Read Articles:

Applying for a Loan

Incorporating Your Business Using Three Simple ...

Asset and liability basics

Auto Loan Options for People with Bad Credit

Effective Policies and Procedures - 4 Parts of ...

Instant Unsecured�Cash Loans - Tips

Are you Scaring away Potential Customers?

BAD CREDIT PERSONAL LOANS

Alternatives to Credit Cards

How to Write a Credit Policy for your Business

MLM Success Training - How To Make Prospects Be...

The Seller�s Creed

Your IR is Essential to Your Market Position

Auto Loans: Don�t Dig a Money Pit in Your Garage

How to offer 30 day terms the right way.

Press ReleaseEntrepreneur Runs List Sales Compa...

Short Sale Success Secrets with Foreclosures

Six "Honest Serving-Men"

Negotiating A Short Sale � The High Road to Hug...

More Article Pages 1 - 2

Debt Relief From Debt Consolidation
by: Jakob Jelling

If you are up to your neck in debt, there may seem like there is no relief in sight. In fact this is not necessarily the truth. There are ways to take all of your stifling bills and roll them up into one neat package by using debt consolidation in two very popular forms Home Equity Loans, Refinancing Loans, and a Consolidation Credit Card. All of these instruments provide the debtor with one thing �relief� from the current debt by shrinking it down to a single manageable debt.

Using home equity to consolidate debts

One of the popular methods of debt consolidation today is the Home Equity Loan. What happens is that the debt is extinguished using the equity from a homeowner�s home. A loan is created outside of the mortgage in order to satisfy the debts. Should the homeowner default on the loan, their house is in jeopardy of being foreclosed upon if that loan is not satisfied with a specified amount of time.

Refinancing loans

People often consume the debt by rolling it into a new mortgage. This way the house costs more money to the borrower, but the debt is extinguished at close and the debt is neatly rolled away into the mortgage securely. Upon settlement of the loan, the debts are paid in full and satisfied. The clock on the mortgage is reset to day one.

Credit card consolidation

A low interest credit card is offered to the borrower to include any outstanding credit and loan balances. The interest rate is a low fixed rate for a period of up to one year, upon the year�s end it will resume at its normal rate. Upon acceptance and terms the account should be closed once paid in full and payments be made directly to the new credit card provider. Some people have been able to master paying off one credit card with another to keep the debt revolving and interest rates low. Some people fail to close out the previous creditors account and run them back up again as well.

All three of these options provide solid relief for the debt and help them reconstruct and manage their debt better.

By Jakob Jelling
http://www.cashbazar.com

This Static Spot is open for sponsor

This Static Spot is open for sponsor