DID YA HEAR? 80% of the over 250K crowd is "Small Business"!

[GHook93]

Actually, I would say you failed because most small businesses in the US are sub chapter S corps.

And your point is? S-Corps have the follow through taxation meaning they are taxed at the personal level not the entity level! Meaning personal income taxation is huge to the owner!

 

[Ravi]

he.he.he.--you may want to contact your democrat representatives & ask them why they want to stop funding on E-verify. The only tool--that is 100% effective helping employers verify American citizenship--before they hire. It is an online system that employers can take 5 minutes to verify documentation, etc.

Or didn't you hear--Democrats in D.C. want to cut all funding for E-Verify. Republicans are outraged over this. The only people that would be delighted to hear that funding is being cut are illegals.

It's another democrat "buy" the minority vote policy--while they smoke screen people like you who actually believe that democrats are "protecting" their American jobs.

BTW--who in the heck ever told you that small business people where primarily made up of Republicans? he.he.he.

IF e-verify IS already in place and 100% as you say, then why is more funding needed for it?

What is to stop businesses from using this e-verify system anyway, if it is already out there?

can't each state, on its own, require/legislate their businesses use e-verify?

To my knowledge no one is asking for more money for E-Verify--they just don't want funding cut.

Sure, I would love to see each state take on their own illegal immigration problems, but as we see the Federal Government has become the mother of all of that too.

States "always" handle problems much better than the federal government does.

 

[Care4all]

can a single owner company be an Scorp?

 

[Skull Pilot]

can a single owner company be an Scorp?

yes

 

[Ravi]

can a single owner company be an Scorp?

Yes, I think so...you'd just have one person owning all the stock.

 

[Care4all]

can a single owner company be an Scorp?

Yes, I think so...you'd just have one person owning all the stock.

i meant to ask, can a single owner company with only himself as an employee, be an scorp?

 

[Ravi]

can a single owner company be an Scorp?

Yes, I think so...you'd just have one person owning all the stock.

i meant to ask, can a single owner company with only himself as an employee, be an scorp?

Yes.

 

[Skull Pilot]

can a single owner company be an Scorp?

Yes, I think so...you'd just have one person owning all the stock.

i meant to ask, can a single owner company with only himself as an employee, be an scorp?

yes

 

[Care4all]

What is the advantage in doing such, verses just being in business for yourself, without the incorporation?

 

[oreo]

can a single owner company be an Scorp?

Certainly--he/she will have to have a named President, V-President & Treasurer to qualify to be an S corporation--but they can be in name only & not own shares of company or stock (typically no par value) which means that 100% of profit or loss goes back to the owner who owns 100% of the stock.

 

[oreo]

Actually, I would say you failed because most small businesses in the US are sub chapter S corps.

And your point is? S-Corps have the follow through taxation meaning they are taxed at the personal level not the entity level! Meaning personal income taxation is huge to the owner!

Exactly.

 

[oreo]

can a single owner company be an Scorp?

Yes, I think so...you'd just have one person owning all the stock.

i meant to ask, can a single owner company with only himself as an employee, be an scorp?

Yes they can. Again to qualify for an S-corporation the single owner will need to designate a President, (normally him/herself) then a V-president & treasurer. The Vice-President/Treasurer can be totally in-active in the business operations. As long as the stock (typically no par value) is owned 100% by the President or owner--they are a single owner S-corporation.

 

[Skull Pilot]

What is the advantage in doing such, verses just being in business for yourself, without the incorporation?

the immediate benefit is the legal separation of business and personal finances. A sole proprietor does not have this protection.

 

[oreo]

What is the advantage in doing such, verses just being in business for yourself, without the incorporation?

It's for protection. A sole proprietorship is at the disposal that if sued by some fancy pants lawyer--they stand to lose their personal assets, such as their home, & other valued assets.

Sub-S corporations if sued by the same fancy pants lawyer loses the business assets, not the personal assets of the individual owner.

Unfortunately, I have seen this time & time again with my experience. One person I knew that was in business building homes for years, opted out of being a Sub-S. They felt it wasn't necessary. They got sued by a disgrunteled home owner with a high priced lawyer & lost everything, including their home.

One person said to me one time. When in business it's not if you'll get sued, it's when. Unfortunately, in our society there are people out there looking to do business with sole proprietorships to accomplish just that.

 

[GHook93]

can a single owner company be an Scorp?

Yes, but it would be smarter for them to organize as an LLC!

 

[GHook93]

What is the advantage in doing such, verses just being in business for yourself, without the incorporation?

Sole P and general partnerships open one up to personal liability. Owners S-Corps, LLCs, LP, LLPs etc do not have personal liability!

 

[oreo]

can a single owner company be an Scorp?

Yes, but it would be smarter for them to organize as an LLC!

Yep--there are many of those too. Right now, even realtors whom are working out of a brokers office are opting to be sub-S corporations--just for the protection of it.

Again, unfortunately there are too many experts out there looking for vulnerable sole proprietors to sue. In fact, some make a living out of it.

The S-corp & the LLC's offer deterance.

 

[Ravi]

What is the advantage in doing such, verses just being in business for yourself, without the incorporation?

The main two are your personal assets can't be touched if your business is sued, and you don't pay payroll taxes on income that is paid from the corporation to you other than your salary. As far as I can see, this isn't going to change...so the bogus claims that Oreo made at the beginning of this thread are just that--bogus.

 

[Ravi]

can a single owner company be an Scorp?

Yes, but it would be smarter for them to organize as an LLC!

Yep--there are many of those too. Right now, even realtors whom are working out of a brokers office are opting to be sub-S corporations--just for the protection of it.

Again, unfortunately there are too many experts out there looking for vulnerable sole proprietors to sue. In fact, some make a living out of it.

The S-corp & the LLC's offer deterance.

You strike me as extremely paranoid.

 

[Ravi]

btw, Oreo, I haven't seen you post a thread about how the Dems pushed through legislation that raised the capital deductible on purchases from $125,00 to $250,000. Until you do, you are nothing but a partisan hack.