limited liability

Post image for Basic Training: Understanding the Limits of Limited Liability

Q: Does an S Corporation protect your personal assets?  It has become obvious I need help with this.  Any ideas you have would be very much appreciated. A: Generally, yes, a corporation will protect the business owner’s personal assets.  The “S” in “S Corp” is merely a way of designating the way in which the […]

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Post image for Basic Training: On the Subject of Incorporating

Q.: I have always been advised, by CPAs, that until a small company has a specific NET income of approximately $100,000, incorporating is out of the question.  The fees associated with Inc. may not be worth the trouble of incorporating. Wrong? If wrong, why? Thank you. A.: A $100,000 threshold?  Hmmm.  Plenty of companies are […]

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