Synopses & Reviews
Absolutely everything you need to know about forming a small business corporation (S corporation) and the new limited liability company.
You've heard all about it from your auto mechanic, the gang at Cheers, and even your know-it-all mother-in-law. Now get the real facts about forming a (Subchapter) S corporation from somebody who genuinely knows: Robert A. Cooke, CPA. Over the years, Bob has helped dozens of his small business clients decide on and form the best type of corporation for them. Now, in this one-of-a-kind guide, he tells you everything you need to know on the subject. He gives you step-by-step guidance, savvy insider tips, and a wealth of hard-to-get information on S and every other type of corporation your business may qualify for. And he gives it all to you in a plainspoken, conversational style that makes even the murkiest legal concepts clear as day for nonlawyers.
This guide is written for small business owners and entrepreneurs
- Saves you hours of valuable time wading through miles of official publications and bureaucratic doubletalk
- Clearly explains the advantages and disadvantages of S corporations, limited liability companies, partnerships, C corporations, and other legal forms of business
- Helps you choose the business form that's right for your goals and income level
- Tells you what you need to do to set up your corporation, who to write to, what to ask for, and how to find affordable professional assistance
- Illustrates all important points covered with dozens of eye-opening real-life examples and vignettes.
So, whether you're thinking about starting your own business or you already own a small business, read How to Start Your Own (Subchapter) S Corporation and get the inside track on what type of corporation is really best for your business.
Everything you need to know about forming an S corporation or limited liability company
This new Second Edition of How to Start Your Own S Corporation provides small business owners with the real facts about forming an S corporation. Newly updated, this one-of-a-kind guide tells you everything you need to know on the subject, with step-by-step guidance, savvy insider tips, and a wealth of hard-to-get information on S and every other type of corporation your business may qualify for.
This Second Edition updates the many changes in income tax law since the original publication, including the expansion of the allowed number of stockholders, the new rule that S corporations can own subsidiary corporations, new rules for medical expense benefits, and new IRS rules for LLC classification. The Second Edition of How to Start Your Own S Corporation includes:
Up-to-date information on recent changes in tax law affecting S corporations, LLCs, and stockholder rules
The latest updated IRS forms
Clear explanations of the advantages and disadvantages of S corporations, LLCs, partnerships, C corporations, and other legal forms of business
Straightforward expert advice on choosing the business form thats right for your goals and income level
A detailed plan for setting up your corporation and finding affordable professional assistance
Dozens of eye-opening, real-life examples
New information when tax law changes at www.robertcooke.com
So, whether you are thinking about starting your own business or you already own a small business, the Second Edition of How to Start Your Own S Corporation will give you all the insider information you need to take full advantage of current tax law.
About the Author
ROBERT A. COOKE, CPA, has had twenty years of experience in public accounting. Prior to becoming a CPA, he was the owner and co-owner of three successful small businesses. He has taught numerous seminars on finance and accounting for Pryor Resources, Inc., and is the author of a successful book on financial management.
Table of Contents
S Corporation--The Universal Cure--Maybe.
How Forms of Business Organization Are Taxed.
When to Be an S Corporation.
Procedures for Becoming and Continuing as an S Corporation.
More Nit-Picking Rules--Some Good/Some Bad.
An Alternative--The Limited Liability Company (LLC).
Appendix A: Tax Rate Schedules for 2000.
Appendix B: Limited Liability: How Limited Is It?
Appendix C: S Corporation Documents and Forms.
Appendix D: Limited Liability Company Documents and Forms.
Appendix E: Records to Be Kept and Information to Be Filed.