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Benefits of Incorporating Why Consider Incorporating Or Forming An LLC

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Benefits of Incorporating Why Consider Incorporating Or Forming An LLC

July 23, 2013

2012 - Entrepreneur.com Top Small Business Finance Resource2011 - Crain’s Top Entrepreneur

: Who we are

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• Funded over $850 million to date• Over 1,100 lenders on our platform, including 50+ micro-lenders• Have direct reach to our network of over 1.6 million SMB’s

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Presenter- John Meyer

The Company Corporation is a service company and does not offer any legal or financial advice.

About The Company Corporation

The Company Corporation has been helping companies with business compliance for the past 100 years

Over the past five years our company has formed more than a quarter million new LLCs and Corporations

Parent Company partners with over 90% of the Fortune 500 Companies for business compliance

Founded in 1899 by the architects of Delaware's corporate laws.

Headquarter in Delaware with offices in all 50 states



Walking a tightrope without a net?

A corporation and LLC is a legal entity that is created under the laws of a state.

It is designed to be a separate legal entity having its own privileges and liabilities distinct of its owners.

A corporation or LLC has the legal capacity to enter into agreements or contracts, assume obligations, incur and pay debts, sue and be sued in its own right, and to be held responsible for its actions.

What Does Incorporating Or Forming An LLC Mean?



The Entity Puzzle

Two Types Of Corporations

Features Of: C-Corp S-Corp

Entity Separate legal entity from the shareholders

Separate legal entity from the shareholders

Liability Owners Have Limited Liability Owners Have Limited Liability

Control • Run By Board Of Directors • Must Have Yearly Board

Meetings• No Limits On Ownership

• Run By Board Of Directors • Must Have Yearly Board

Meetings• Limits On Who Can Own

Shares In An S-Corp

Taxation Double Taxation Pass-Through Taxation


LLC vs. S Corp

Features Of: LLC S-Corp

Entity Separate legal entity from the members

Separate legal entity from the shareholders

Liability Owners Have Limited Liability Owners Have Limited Liability

Control • Run By Members • No meeting requirements• Less Restrictions on

Ownership

• Run By Board Of Directors • Must Have Yearly Board

Meetings• Limits On Who Can Own

Shares In An S-Corp

Taxation Pass-Through Taxation Pass-Through Taxation


Why Incorporate?

Personal Asset ProtectionTax FlexibilityAdditional CredibilityLess Risk of an AuditName Protection


We live in a litigious society where we can get sued for legitimate and even non legitimate reasons, regardless of guilt

Operating under a corporate entity helps to protect your personal assets. If you do get sued, your personal assets will be separate from your corporate assets.

You will be operating under a “Corporate Veil”

– $50,000 Corporate Veil Guarantee®

Personal Asset Protection


Simplified Tax Savings Example

Scenario % Sole Proprietor S-Corp/LLC*

Salary/Commissions $60,000 $40,000Distribution $20,000

TaxesMedicare 2.90% $1,740 $1,160

FICA 12.40% $7,440 $4,960Total Self-Employment 15.30% $9,180 $6,120

Federal Tax (Married) ~28%** $10,835 $10,835

Total Taxes $ $20,015 $16,955Total Savings

*LLC after filing IRS 2553 form

**With married standard deduction

$3,060


Additional Credibility

Adding "Inc." or "LLC" after your

business name adds instant authority.

Consumers, vendors, and partners may

prefer to do business with an

incorporated company.


Less Risk of an Audit


Name Protection

In most states, other businesses may not file your exact corporate or LLC name.

Includes: Passing on to children or transitioning to a buyer.


It Makes Sense!

Personal Asset Protection Tax Flexibility Additional Credibility Less Risk of an Audit Name Protection



Funding and Growth

Ways to Incorporate


Where to Incorporate?


10 Easy Steps


Name

State

Structure

Purpose

Length of LLC

Shares

Executives

Address

Package and Price

Next Steps

Step 10: What Are the Next Steps?

File Application With TCC -- TCC Reviews & Files

With SOS

Receive Articles Of Formation

File For Your EIN Either Online Or TCC Can File For Additional Charge

If You Don’t Want To Be A C-Corp File Your S-Election With The IRS

Open Business Bank Account


EVERYONE HAS A DREAM.It’s time to follow yours.

Questions?


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