Protecting personal assets is a legit reason but tax breaks, what tax breaks, you have to pay your normal income tax plus franchise taxes. retirement and pension plans can be offered by any company wether you are a corporation or not. if you don't a lot of assets you could have easily been sole proprieter.

Also Greenguy you should know that if you don't follow corporate formalities you can be held personally liable. off course I am sure you know that already.

I've inc'd so many times, I... I just don't
feel anything anymore when I do it. :(


|jester|

This thread has now officially turned into the stupidest thread on the board, overtaking Mr Ann's dumpster diving fiasco.

I guess all these companies should dissolve their corporations & just run everything thru their's SS numbers |thumb

2 words: Pension Plan
2 more words: Profit Sharing

There are so many benefits to having a company with 2 employees that it's not even funny.

But maybe you know more than EVERY accountant that has ever lived.

Aww...that's just sad...it should always feel good when ya inc :D

Agreed Greenie...this has gotten so far off track it's not funny. And being incorporated has nothing to do with protected whois info, and getting listed on link sites or tgps.

Not to mention someone needs to do a bit more research on the pros and cons of being incorporated before spouting off about those issues |loony|

A corporation is a good start towards seperating your personal goods from the company goods. It provides a legal buffer between your personal responsiblities and your corporate responsiblities. It provides tax benefits (ability to control your personal income to pay the least tax) and provides numerous benefits in the ability to claim expenses BEFORE taxes rather than after.

However, Davejr, you have proven to be a wise and intelligent person, so I am going to close my company and pay huge taxes on my income for the rest of my days because you say it is a good idea.

NOT!

Alex

what I am saying is if you are one guy or two even behind your computer at home you should not be a corpoaration. pension plan & profitsharing ok cool. but I am basicly saying is a person who forms a corporation and uses affialiate marketing as his biz is not doing himself a favor tax wise. Now I am just speaking tax wise not about other benefits. A sole proprietor he would taxed on personal income tax, as an s corp you also taxed on your personal income tax. but have the added issue of an annual franchise tax unless your corp is in nevada. if you company is sued it is true that if your personal assets will not be touchable provided you done nothing illegal. pension and profit sharing plans are avialable to all business, they are not corporate benefits.

I believe MrYum is a former accountant and could say a fuck of a lot more than I can, but...
(ref: http://www.powerhomebiz.com/vol136/structure.htm)

Do your research.

Don't remind me UW...damn, I hated doing that for a living. Porn is WAY more fun :D

Your quoted text is exactly on the mark |thumb

Everyone's situation is different...for anyone to come in and uniformly state "I am basicly saying is a person who forms a corporation and uses affialiate marketing as his biz is not doing himself a favor tax wise."...is ill-informed to put it mildly |crazy|

I did a lot of research on the subject...as I'm sure Greenie did...as should anyone who's considering incorporating. But, Davevjr has made it pretty clear that he knows all about the subject and his mind won't be changed |banghead|

Besides, that's not what this thread is about...Dave had a burr up his butt about Alexa showing his name/address/phone info. Sooo, why don't we get back on track Dave...somehow, I doubt you're going to convert many folks to your way of thinking about incorporating.

back on track fine look at the early post I siad I contact alexa already. the point was I am tired smart ass remarks when I post a question. I wish someone would just answer the question with out smart ass comments, so yes I was rude so get over it. as for the incorporation issue I am just going to say live and learn.

plus if I don't want my info passed to the general public that's my right, you don't care that's your right but I do and thats that.

WRONG! It's even BETTER if it's just 2 people in the company.

If you open a Profit Sharing Plan, the company has to put in the same amount for EACH employee. If it's just my wife & I, we can load up the plan with any extra money we have & not pay taxes on it. Almost ALL of my profit goes into this fund.

Plus you throw in that at the end of the year, my company's books show a balance of $0.00, all I pay is the fee for filing the taxes ($100)

Plus, just think of all the benefits of filling out forms & applications & putting down that you have a job, an employer, you have check stubs & W2's.

I can remember how funny the loan officer looked at me when I told him I was self employed & then had to drag in all this paperwork & statements & proof of income.

"Proof of income? Here's my last 4 check stubs, Mr Loan Officer."

I've done both - it's much better with the company.

davevjy, actually, the privacy isn't exactly your right. Just like registering a company or whatever, certain information is out there as public record. It happens that on the internet, public records are very very easy to get to.

Let me add to the collective knowledge in the field.

http://maps.google.com/maps?f=q&hl=e...7,0.033989&t=h

Enjoy.

Alex

i know but still certian information is still private. Yes when you register a company it is public info. there is still certian information is private, but that does not mean it is not accesable somewhere. then agian there is some states that have privacy protections for people that inc. their biz. you wouldn't like it if someone started calling 3:30 am every night becuase he seen you on tv or so or heard you some radio show. there is no law that I am aware the says whois info must public. there is an actual legit reason for keeping company info public.

That don't sound legal, but i am not lawyer i just hope you don't get
audited. and what about the taxes on the stock your corporation?

So it seems |loony|

Exactly! YOU are NOT a lawyer.

I have a lawyer, I have an accountant & I have a financial adviser. I find it REALLY hard to believe that all 3 of them are out to fuck me over by telling me to do these things.

My company is not public, therefore there are no "stocks" I have 50% of the shares & my wife has 50% of the shares & I assume that if either of us were to sell any of those shares, we'd have to pay tax on the money that we recv'd for them.

Is there any other asinine question I can answer for you?

Maintain eye contact and back away slowly ;)

OKAY WHATEVER DUDE

Muwahaha! Now, THAT's funny!

You're beating your head against a wall with this guy Greenie |banghead|

"Talking with you is like a Martian having a conversation with a fungo."
~ Kevin Costner as Crash Davis in Bull Durham

10 is good for me |thumb

To answer your original question - registering a domain is putting your "private" information out there for anyone that wants it - by law it is required in the US to be available for every domain registered. If you use a privacy service offered bythe domain registrar it will be hidden from the people doing whois searches (which is how Alexa gets the information) however that information can still be retrieved by any agency that requests it.

More importantly - so little people use Alexa as a search engine its not like the information is going to show up very many places.
As was previously posted however, it can certainly affect your business if you own an adult site, as most traffic sources will not link to people that hide their information anymore. Also, there is a trend (my personal feeling is that it has already been implemented) at Google to dampen ranking based on hiding information from their whois part of the search algorithm. Just so that there is no misunderstanding, Google recently became a qualified registrar specifically for this purpose.

Last - I dont know who has been giving you information on corporations, but as pointed out it is entirely false. I dont have a clue where you live as I havent looked up any of your info, but claiming franchise tax as a big deal is ridiculous - in my state its $25, in Delaware where one of my corps is registered its $200 including the registered agents' fee. I also have my own financial adviser and accountants and they would shoot me if I ever tried to get rid of the corps - with the expenses that wouldnt be able to be claimed as biz expenses I would be taxed so heavily, I would owe the IRS tens of thousands of extra dollars every year.

I guess after looking around a little I would have to agree that you should hide your whois info

I saw that you were looking for trades on that xtasyvids.com site you had at the beginning of 2005 - hopefully you have sold that domain as that sure is a pretty picture in the whois now - http://www.whois.sc/xtasyvids.com

Nice find Linkster |thumb

I have checked out several state's on thier website, yes delaware was one of them. my home is california where the minimum franchise tax is $800. and of course it goes based how much money you make. I did look at delaware. that price quoted are just minimums meaning if you made no money at all. Meaning if you have successful biz you won't be paying $25 on your 2nd year. But my favorite is nevada no state taxes at all. I wasn't trying to insinuate it was a bad idea all around, but I believe people glamourize owning a corporation to a degree that makes it seem like it is always the best thing to do, and this just isn't true.

yeah I sold it. I sometimes devolop domains and sell them.