B Build Corporate Credit Separate From You

 

Build corporate credit that is not connected to you or your social security number. Get charge accounts, charge cards including MasterCard and Visa. This is one of the biggest advantages of your own personal corporation. If something goes wrong with your business, you do not destroy your personal credit. Donald Trump has filed bankruptcy several times when his plans did not work out. It didn’t hurt his personal credit or the credit of any of his many other corporations. Each is a separate entity with its own credit file. Its time to get yourself the same protection! You can build credit in your corporation no matter how good or poor your personal credit rating.

Protect Your Assets, Now and Future

 

You work hard to get ahead and bam! A lawsuit can wipe you out. Wyoming has the strongest laws protecting corporations from lawsuit. Do you have fire insurance on your house? Do you have lawsuit insurance on it? Do you know you are several times more likely to lose it in a lawsuit? Do you have other assets you would like to protect? Would you like to protect your future earnings? In today’s lawsuit happy climate you can get sued and have judgments placed on you for anything. Using corporations to protect your assets is easy and very cheap insurance.

Separating your business from you personally is a necessity today. With a business you open yourself up greatly to the potential of lawsuits. There is no cheaper insurance against lawsuits than an incorporation.

Even if you only work for a company and don’t have your own business, using a corporation to hold and safeguard your investments such as stocks is the intelligent thing to do. Protect your future today.

Enjoy Tax Savings

 

 

Wyoming has ZERO state income tax on corporations and ZERO state income tax on individuals. ZERO forms are filled out and ZERO information is collected and forwarded to the IRS.

Politicians spend more and more then want more and more taxes. There are HUNDREDS of tax deductions available to corporations that are not available to businesses or individuals not incorporated.

If you don’t have a business you are missing out on a huge tax benefit!  A trip to the Bahamas can be deducted if you ask about property to invest in while there. Health insurance, a college education, a new car, a new boat, fishing equipment, hunting equipment, makeup, clothes, computers, cell phones, 55 cents per mile you drive, entertainment, newspapers….the list goes on and on.  All can all be setup as deductible.

Play the tax rates to your advantage! The first $50,000 of income for a corporation is taxed at 15%. Income can be divided up between you and your corporations for the best tax rates. Besides income tax you are getting hit with a Social Security tax. With a corporation, you can avoid paying  Social Security tax on the money.

Double taxation? You may have heard of the problem of double taxation with a C-corp. That only happens when your corporation pays you a dividend. The simple solution – do not pay dividends! Remember the corporation is yours! You can purchase anything you want with corporate money. It may not always be deductible but it doesn’t have to be. We recommend only paying yourself a small salary and maximizing the tax code to your advantage.

Do you receive dividends from other investments? You pay taxes on those dividends. Did you know a corporation does not pay taxes on dividends it receives? It makes sense to move those investment to a corporation for tax free income. Tax savings will easily pay for Incorporation costs

 

Estate Planning

 

 

Corporations do not have a ending date or die. They continue for as long as the shareholders wish and are perfect for giving you the flexibility to give your spouse and children your assets without the government taking away what you have worked for all your life. The tax laws are written by those who plan on keeping their money. You can have their same advantage. While you are alive you can give some shares to your family each year tax free if done right. Upon your death shares can go to your family and the corporation continues as usual. Having the shares held in a trust is an excellent way to plan for the future of your family. There are many different ways to protect your loved ones from estate taxes with a corporation. A good accountant can help you find the best way for you to use our incorporation and irrevocable trust services for you. Make a difference for your family.