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    glavine's Avatar
    glavine Posts: 895, Reputation: 87
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    #1

    Aug 25, 2007, 04:01 PM
    Incorporate or not
    Hey, Ive been giving some thought to incorporating my small business or Nichols Trim and Carpentry. We've been in business for over 10yrs and have grown a lot here in the last 3.
    Before most of our work consisted of just word of mouth but has now grown to the point that I have contracts with large companys that pay us well. I worried Im making too much money and Ill end up with a large tax bill at the end of the year.
    So my question is should I incorportate or not? Are there more advantages that disadvantages? Thanks Eric
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Aug 26, 2007, 02:33 PM
    Eric:

    I would incorporate as a sub-chapter S corporation.

    There are ALL KINDS of advantages with incorporation. Taxes is only a part of the picture.

    Contact an attorney and a CPA to discuss ALL of the incorporation issues.
    glavine's Avatar
    glavine Posts: 895, Reputation: 87
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    #3

    Aug 26, 2007, 02:35 PM
    Thank you for your response, I have plans to Monday, thanks again
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Aug 26, 2007, 02:43 PM
    Glad to help!
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