how do i change from sole proprietor to incorporate?

Question

Jan 7, 2007, 03:50 PM

linnypod

New Member

Join Date: Jan 2007

Posts: 3

how do i change from sole proprietor to incorporate?

i am a sole proprietor, but want to protect my assests and was told to incorporate. how do i do this?

Answers

Jan 7, 2007, 05:21 PM	#2

Fr_Chuck

Christianity Expert

Join Date: Nov 2005

Location: Atlanta GA

Posts: 25,250

Since you know nothing about it, you hire an attorney to explain it to you, and to also explain the possible double tax theory since the coporation will pay tax on its profit, and then when they pay you, you have to pay taxes.
But also there are alot of rules and regs and benifits. So without knowing, I would suggest you talk to an attorney.

There are also LLC which can have some protection of assests

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