Re: PID 1% lease

Tax issues vary depending on the state that you incorporate within.  It is 
not a requirement that you are a resident of the state where you 
incorporate.

Eric Kempter
CommAir Mechanical Services, Inc.


-----Original Message-----
From:   nina jones [SMTP:ddi@datadesigninc.com]
Sent:   Tuesday, March 02, 1999 6:00 AM
To:     MIDRANGE-L@midrange.com
Subject:        Re: PID 1% lease

> How does one incorporate one's self?

check with your lawyer.  for an s corp, there are a couple of requirements.
you'll have to form a board of directors - like your wife and your dog, and 
issue
stock - can be like 500 shares for $1.  then you pick your corporate name 
and
file it with the state.

being incorporated protects your personal assets from business debts.  for
example, if you get into financial trouble in your business,  if you are
incorporated, they cannot come after your personal property unless you sign 
a
personal guarantee.

it also makes you look more, well, established.

but there are a few downsides tax wise - the biggest one for us is not all 
your
health insurance is deductable.

nj
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