Corporation Management 101

  If your reading this because you want to learn how to manage/start a corporation. Know that I every month will post tips and facts on how to run the business. But for the first couple parts I am going to show you how to  start your corporation.




1. First before we can start, have you chosen  a name for your corporation? Try to combine it with what your company will be doing or is doing. For example if you work on the on the highway, then maybe the highway company, or highways workers co. Now you dont have to do that but its just a way to start.

2. After that is done you must corporate your company. There are websites where you can corporate also places to go. After you've don that you are gonna have to chose whether to be a C corporation or a S corporation. what the difference? A C corporation is taxed at two levels, also know as double taxation.The income that the corp. makes is taxd at a corp. rate then the income is distributed to all the share holders of the company. In which they then have to pay a income tax. Now  a S corporation circumvent double taxation, because the profit passes trough the corp. to the share holders where the share holders have to pay in their individual tax brackets