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| < Financial Game ~ Incorporate |
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Tue Jul 08, 2008 3:23 am
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Joined: 02 Jul 2008
Posts: 572
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| Twincityslim wrote: |
If you have dreams of starting a business, real estate company, barbershop, or firm you'll need to incorporate. I suggest establishing a s-corporation or limited liability company. Check the link:
http://www.ehow.com/how_1840_incorporate-business.html?ref=fuel&utm_source=yahoo&utm_medium=ssp&utm_campaign=yssp_art
Start establishing your business credit early. Get a Staples, office max, or kinkos corporate card and start using it to purchase items like printers, paper, or office supplies. This will help establish your business credit. In a year or two you will have a-1 business credit. You'll no longer need to put anything in your name. Cars, boats, homes, etc.
~Twin |
I have a question about this. My partner and I are out to establish our corporation. I already have an EIN number for the corporation. We are interested in buying shell properties/apt buildings. Would you recommend going to banks after establishing credit via small accounts with Target, Home Depot, etc.? If so how soon should we asked the banks for the bigger bucks? |
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Sat Jul 12, 2008 8:54 pm
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Joined: 21 Sep 2006
Posts: 1693
Location: Worldwide
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There is a tight credit market out there right now. Build your credit over a 12 month period. During that time prepare a strong business plan. Then you can approach the banks for some credit.
~Twin |
_________________
"The most valuable commodity I know of is information." ~ Gordon Gekko: |
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Sun Jul 13, 2008 7:56 pm
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Tue Nov 17, 2009 6:19 pm
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Joined: 29 Dec 2008
Posts: 1426
Location: Atlanta
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Wed Nov 18, 2009 7:50 pm
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Joined: 12 Nov 2007
Posts: 315
Location: Hollywood, CA
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| In CA there's a $800 yearly franchise tax for corps--is it the same elsewhere? |
_________________
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Download The Blueprint to Hustle: 5 Basic Laws to Upgrade Your Productivity http://goo.gl/m7Ex |
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| Posted:
Wed Nov 18, 2009 11:09 pm
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Joined: 29 Dec 2008
Posts: 1426
Location: Atlanta
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| thecza wrote: |
| In CA there's a $800 yearly franchise tax for corps--is it the same elsewhere? |
Yeah, but if you do an S-Corp, then the first year you are exempt from this tax. |
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| Posted:
Thu Nov 19, 2009 5:19 am
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Joined: 09 Sep 2006
Posts: 979
Location: The Queen City
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| This one of the most fruitful threads you'll find anywhere... This should is prerequisite for anybody seeking to become self-reliant. |
_________________
"The most precious thing a man has is his word" - Melvin Williams |
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| Posted:
Mon Nov 23, 2009 12:17 am
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Joined: 08 Aug 2008
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Location: Worldwide
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QUESTION!!!
Should I Incoropater immediately upon creating my company or should I wait till I get a certain amount of net income before incorporating into a n LLC.? |
_________________
The Decade of the URM Gentleman begins...Chic, Civilized, and Cultured is the Mantra! http://brotherhoodofthegame.com/
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| Posted:
Tue Mar 09, 2010 8:27 am
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Joined: 03 Dec 2008
Posts: 337
Location: GA
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| Late night research bump. |
_________________
I hate to break it to you, but there is no big lie, there is no system, the universe is indifferent.
- Don Draper |
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| Posted:
Tue Mar 09, 2010 8:52 pm
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Joined: 12 Mar 2007
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One of my co workers went incorporated. He put him and his wife under the same business name. and he pays his taxes at the end of the year. He has both his cars under his business and says he writes it off at the end of the year.
I went to his accontant and tried to incorporate also and he said i had to at least make 150 000 a year. and there was a fee about $400 to do it. Is that true? |
_________________
A double minded man is unstable in all his ways. |
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| Posted:
Wed Mar 10, 2010 7:53 pm
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Joined: 21 Feb 2007
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| MarcAnthonyrome wrote: |
One of my co workers went incorporated. He put him and his wife under the same business name. and he pays his taxes at the end of the year. He has both his cars under his business and says he writes it off at the end of the year.
I went to his accontant and tried to incorporate also and he said i had to at least make 150 000 a year. and there was a fee about $400 to do it. Is that true? |
That accontant told you wrong. Check out
www.incplan.com
www.incaroo.com |
_________________
Cologne & Perfumes @ Discount prices
www.uchoosescents.com
Beats make youre own music beats now.
http://bit.ly/19bLu7 |
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| Posted:
Tue Mar 16, 2010 1:15 am
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Joined: 12 Mar 2007
Posts: 310
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| eman wrote: |
| MarcAnthonyrome wrote: |
One of my co workers went incorporated. He put him and his wife under the same business name. and he pays his taxes at the end of the year. He has both his cars under his business and says he writes it off at the end of the year.
I went to his accontant and tried to incorporate also and he said i had to at least make 150 000 a year. and there was a fee about $400 to do it. Is that true? |
That accontant told you wrong. Check out
www.incplan.com
www.incaroo.com |
did you use these sites personally to incorporate? |
_________________
A double minded man is unstable in all his ways. |
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| Posted:
Wed Mar 17, 2010 3:14 am
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Joined: 21 Feb 2007
Posts: 158
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| MarcAnthonyrome wrote: |
| eman wrote: |
| MarcAnthonyrome wrote: |
One of my co workers went incorporated. He put him and his wife under the same business name. and he pays his taxes at the end of the year. He has both his cars under his business and says he writes it off at the end of the year.
I went to his accontant and tried to incorporate also and he said i had to at least make 150 000 a year. and there was a fee about $400 to do it. Is that true? |
That accontant told you wrong. Check out
www.incplan.com
www.incaroo.com |
did you use these sites personally to incorporate? |
No i Have not but will soon be using them. But i know people who has with no problems. |
_________________
Cologne & Perfumes @ Discount prices
www.uchoosescents.com
Beats make youre own music beats now.
http://bit.ly/19bLu7 |
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