Incorporating Your Business for Dummies

by The Company Corporation and The Company Corporation

Book Overview

If you?re a business owner, incorporation can help youprotect your personal assets and cut down your tax bill. But allthe paperwork and legalese can make incorporation seem like moretrouble than it?s... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0764553410
• ISBN13: 9780764553417
• Release Date: March 2001
• Publisher: For Dummies
• Length: 320 Pages
• Weight: 0.90 lbs.
• Dimensions: 0.9" x 7.5" x 9.1"

Customer Reviews

Good book for those contemplating a corporation

If you are contemplating starting a business and therefore a corporation, this book is a great first start. As with all of the dummy series books, the authors feel that people reading these books are brand new and know nothing. So this gives even the most naive a good start on how to incorporate.So much of the information is basic and since the book was written awhile ago, some of the material may be dated. Nonetheless, good first start for business people.Other good books include How To Start a S-Corporation by Robert Cooke and Brilliant Deductions by Wade Cook. The latter shows a way to drop out of the social security system and offers a good section on Nevada Corporations.

One of three must read books on corporations

If you are just starting out, you will find a wealth of information in Incorporating Your Business For Dummies. Read this and learn.Two other books that are MUST READS are How To Incorporate: A Handbook for Entrepreneurs and Professionals by Michael R. Diamond and How To Start A "S" Corporation by Robert Cooke. You will also want to read a How To Incorporate (for your particular state), a series by J.W. Dicks. I purchased How To Incorporate and Start a Business in Minnesota and was very pleased.

Ignore first 2 reviews - this is a good book

It is so blatantly obvious that the first two reviews were written by the same person--DUH! No doubt this individual would rather have you buy books onIncorporating by no-name self publishers who offer only generic advice.I previewed this book at Barnes & Noble and spoke with some other business people there who highly recommend this book. Now that I have read it and am using it, I recommend it also.In Incorporating for dummies you will learn-the advantages and disadvantages of incorporating-state and federal laws about corporations-the ins and outs of filing a corporate tax return-the 10 commonly made mistakes by small corporations-the best ways to create tax free medical benefits and retirement plans_a guide to business life after corporationsIncorporating your business for dummies is an excellent book for anyone in business. I also recommend Inc. Yourself by Judith H. McQuown and How To Launch a Business and Incorporate in any state by J.W.Dicks.Conversely, I bought some of the "self-published" books on the internet and on sale here and was terribly dissappointed. Never buy sight unseen.

Good book on how to incorporate your business

I bought this book along with Rich Dad's Advisors; Own Your Own Corporation by Garrett Sutton.Incorporating Your Business for Dummies is a good book for the average reader. This book shows how to protect personal assets, save on taxes, set up your board of directors, conduct meetings and more.I especially enjoyed the part on how to create tax free medical benefits, pension and retirement plans. Very informative.For even more information, I recommend "Own Your Own Corporation" by Garrett Sutton and "How To Start a S Corporation" by Robert Cooke.

Great Book For Helping Entrepreneurs Understand Corporations

"Incorporating Your Business For Dummies" is an excellent book for people forming a corporation or for those serving on the board of directors of a small corporation. The book clearly explains the roles/purposes of articles of incorporation, bylaws, consent resolutions, minutes of shareholder's meetings, shareholders, officers, directors, and how not to inadvertently compromise the corporate structure and expose officers, directors, and shareholders to personal liability.Corporations, as separate legal entities, have no ability to act on their own. Corporations are owned by shareholders who typically elect a board of directors who set general policy for the corporation. Typically, the board of directors selects officers who manage the day-to-day operations of the corporation (some states allow 'close corporations' which allow smaller corporations to eliminate a board of directors and some of the other corporate formalities)."Incorporating Your Business For Dummies" has an excellent chapter about the need to document authorized corporate actions. If meetings are held, minutes of the meeting document actions approved by either the shareholders or by the board of directors. If you form a one-person corporation, documenting action will probably be done with consent resolutions.Some smaller corporations may fail to document corporate decision-making properly. This is one factor that can be used to "pierce the corporate veil" and impose personal liability. "Incorporating Your Business For Dummies" does an excellent job of explaining compliance issues that are necessary to shield individuals from liability and keep a corporate structure intact.A very short (3-page) chapter does an excellent job of discussing where to incorporate. Incorporating in Delaware is discussed. However, many people misunderstand state taxation of corporations. Corporations must qualify to "do business" in each state in which they have employees and property (the book does a good job of discussing qualifying to do business in other states). A corporation is subject to all state laws and taxation of every state in which it does business. So, if you do business in Minnesota and incorporate in Delaware, you're subject to Minnesota state income taxation. (In short, if you plan to "do business" in many states or go public, the authors argue Delaware is a good choice, but if your business "does business" in only one state, that one state probably is your best choice.)Choosing a corporate name and forming a corporation are covered. The role of shareholder's agreements is discussed.One weakness of the book is the lack of discussion of corporate taxation. (The book says consult your tax advisor, which is good advice. But, you might want to know more. Another good book with more of a tax-focus is "Inc. Yourself"). For example, the role of IRS Section 1244 stock is touched upon only briefly. Section 1244 stock allows a complete corporate failure to be offset against ordinary income, which m