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Corporation Posts

Choosing Between a Sole Proprietorship, Partnership, Corporation, or LLC

March 23rd, 2016|0 Comments

When  should you choose a sole proprietorship?Although there is no hard and fast rule, if you are a new business and will be the only owner, I generally recommend that you do not form an LLC or Corporation but operate as a sole proprietorship. The main exception to this rule is if you have substantial assets to protect; in that case I often recommend an LLC or Corporation. If you [...]

Pros and Cons of a Corporation

March 23rd, 2016|0 Comments

Pros and Cons of a Corporation The decision as to whether or not to incorporate is important to your business. Some of the key pros and cons are described below, but you may want to consult with an attorney to discuss how they affect your business. PROS Protection of personal assets A properly formed and maintained corporation will shield the personal assets of the owners of the corporation [...]

S Corporations – Avoiding Self-Employment Tax

March 23rd, 2016|0 Comments

Should I elect S Corporation status? Many small business can save on taxes when operating as an S Corporation. My general rule of thumb is if you can pay yourself a reasonable salary from you company, and still have $20,000 of profits left to take as a distribution, an S corporation can save taxes for you Can I do this with my LLC or corporation? Yes, an LLC can elect to be [...]

California Corporation Formation Checklist

March 18th, 2016|0 Comments

Below is a checklist to help guide you through the process of forming a California Corporation Formation Checklist. Click here to download a Corporation Formation Checklist that is substantially the same. Many of the items in this checklist have links to help you understand what is involved in each step. Please feel free to contact me if you need guidance at any point along the way. Also please take a [...]

Forming a Corporation

March 17th, 2016|0 Comments

Filing Form ARTS-GS When forming a Corporation in California, you must file Articles of Incorporation with the secretary of state; generally one will use ARTS-GS in California, which forms a General Stock Corporation with the Secretary of State. Forming an S corporation The phrase “forming an S corporation” is really a misnomer. To get an S corporation, one must first form a corporation, as described below, then elect S [...]

Choosing a Corporate Name in California

March 17th, 2016|0 Comments

Form ARTS-GS Part 1 – Choosing a Corporate Name in California When forming a Corporation in California, you must pick a name. If you are using Form ARTS-GS, which I recommend, it is entered in box 1. Step 1: Pick a name While you may already have a name under which you operate your business–a fictitious business name, for example–your current business name may require a few refinements to meet [...]

Step-by-Step Guide To Electing S-Corp Status

March 17th, 2016|0 Comments

Forming an S corporation? Here’s your step-by-step guide to the timely and proper filing of Form 2553 for a new corporation. (Click here for our Corporate Formation Checklist.) When forming a corporation, you must complete Form 2553 “Election by a Small Business Corporation,” and send it to the IRS. The purpose of this form is to state that the entity wishes to be an S corporation. Note that [...]

Minutes for Board of Directors

March 17th, 2016|0 Comments

Minutes for Board of Directors The minutes of a board meeting are crucial. This post looks at how minutes are valuable, both internally and externally, and outlines the general form that they should take. Finally, it provides a sample you can compare with your own minutes to be sure everything is covered. Minutes for Internal Purposes Internally, minutes serve to show exactly what the board has discussed and [...]

LLC Posts

Step-by-Step Guide to Filing California LLC Articles of Organization

May 6th, 2016|0 Comments

Step-by-Step Guide to Filing California LLC Articles of Organization by Mathew Auric When forming an LLC, you will need to complete and file Form LLC-1 with the Secretary of State. This article offers step-by-step instructions for completing and filing the Form. If you have any questions about Form LLC-1, or forming an LLC, please contact me. Section 1: LLC Name The Secretary of State has several requirements and restrictions [...]

Choosing Between a Sole Proprietorship, Partnership, Corporation, or LLC

March 23rd, 2016|0 Comments

When  should you choose a sole proprietorship?Although there is no hard and fast rule, if you are a new business and will be the only owner, I generally recommend that you do not form an LLC or Corporation but operate as a sole proprietorship. The main exception to this rule is if you have substantial assets to protect; in that case I often recommend an LLC or Corporation. If you [...]

Pros and Cons of an LLC

March 23rd, 2016|0 Comments

Pros and Cons of an LLC The decision as to whether or not to organize as a Limited Liability Company, or LLC, is important. Some of the key pros and cons are described below, but you may want to consult an attorney to understand how they apply to your specific situation. PROS Protection of personal assets A properly formed and maintained LLC will shield the owners’ personal assets [...]

S Corporations – Avoiding Self-Employment Tax

March 23rd, 2016|0 Comments

Should I elect S Corporation status? Many small business can save on taxes when operating as an S Corporation. My general rule of thumb is if you can pay yourself a reasonable salary from you company, and still have $20,000 of profits left to take as a distribution, an S corporation can save taxes for you Can I do this with my LLC or corporation? Yes, an LLC can elect to be [...]

California LLC Formation Checklist

March 18th, 2016|0 Comments

Below is a checklist to help guide you through the process of forming an LLC in California. Click here to download an LLC Formation Checklist pdf that is substantially the same. Many of the items in this checklist have links to help you understand what is involved in each step. Please feel free to contact me if you need guidance at any point along the way. 1. Choose a name and check for [...]

Personal Injury Posts

What to do about an old accident

December 12th, 2016|0 Comments

If you have been in an auto accident I recommend the following Medical Treatment after Auto Accident Seak medical treatment immediately. This can be at the hospital, through a primary care physician, or with any other provider that you are comfortable with. The most important thing after getting injured is healing, and medical treatment is what will help you. This is important regardless of whether or not you [...]

Auto Accident – What to do

November 19th, 2016|0 Comments

What to do about an old accident If it’s been a while since you were injured, but you have only just decided you want an attorney’s help with your recovery, here are the steps you should take. 1) Hire an attorney Ideally, you should hire an attorney who has experience handling personal injury cases, preferably one experienced in the type of accident you were involved in. Above all, [...]

How the Statute of Limitations Affects Personal Injury Claims

March 17th, 2016|0 Comments

What Is a Statute of Limitations? A statute of limitations prevents the filing of a claim after a certain date. If you delay too long in pursuing a claim, the statute of limitations will bar you from recovery. In California, the statute governing when an action must be commenced for personal injury is Code of Civil Procedure § 335.1. Running of the Statute of Limitations in Personal Injury [...]

Buisness Law Posts

Step-by-Step Guide to Filing California LLC Articles of Organization

May 6th, 2016|0 Comments

Step-by-Step Guide to Filing California LLC Articles of Organization by Mathew Auric When forming an LLC, you will need to complete and file Form LLC-1 with the Secretary of State. This article offers step-by-step instructions for completing and filing the Form. If you have any questions about Form LLC-1, or forming an LLC, please contact me. Section 1: LLC Name The Secretary of State has several requirements and restrictions [...]

Choosing Between a Sole Proprietorship, Partnership, Corporation, or LLC

March 23rd, 2016|0 Comments

When  should you choose a sole proprietorship?Although there is no hard and fast rule, if you are a new business and will be the only owner, I generally recommend that you do not form an LLC or Corporation but operate as a sole proprietorship. The main exception to this rule is if you have substantial assets to protect; in that case I often recommend an LLC or Corporation. If you [...]

Pros and Cons of an LLC

March 23rd, 2016|0 Comments

Pros and Cons of an LLC The decision as to whether or not to organize as a Limited Liability Company, or LLC, is important. Some of the key pros and cons are described below, but you may want to consult an attorney to understand how they apply to your specific situation. PROS Protection of personal assets A properly formed and maintained LLC will shield the owners’ personal assets [...]

S Corporations – Avoiding Self-Employment Tax

March 23rd, 2016|0 Comments

Should I elect S Corporation status? Many small business can save on taxes when operating as an S Corporation. My general rule of thumb is if you can pay yourself a reasonable salary from you company, and still have $20,000 of profits left to take as a distribution, an S corporation can save taxes for you Can I do this with my LLC or corporation? Yes, an LLC can elect to be [...]

California LLC Formation Checklist

March 18th, 2016|0 Comments

Below is a checklist to help guide you through the process of forming an LLC in California. Click here to download an LLC Formation Checklist pdf that is substantially the same. Many of the items in this checklist have links to help you understand what is involved in each step. Please feel free to contact me if you need guidance at any point along the way. 1. Choose a name and check for [...]

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