**BIZ CREDIT** Business Credit Building... The Mother Thread

[vixenmartine]

I live in NYS. Should I incorporate here or are there better states to incorporate in and if so where? Can I get vendor accounts without being incorporated yet? I have a financial consulting business. What structure should I use? I am the only employee. Thanks in advance.

[nativesuntravel]

Hi, Vixen!! I am also in NYS. I chose to inc in Nevada, but that might not be for everybody. There are some other states that are very friendly to businesses, but unfortunately, NY isn't really one of them. I'm sure that someone will be along to chime in with some other suggestions. You might try talking to someone at a college law clinic about this. Their services are usually free. In my area, many accountants will give you a free consultation.

[Guest thundr101]

Hi, Vixen!! I am also in NYS. I chose to inc in Nevada, but that might not be for everybody. There are some other states that are very friendly to businesses, but unfortunately, NY isn't really one of them. I'm sure that someone will be along to chime in with some other suggestions. You might try talking to someone at a college law clinic about this. Their services are usually free. In my area, many accountants will give you a free consultation.

<{POST_SNAPBACK}>

 

I just incorporated in Nevada.... I Incorporated as an "S" Corp... the CPA that I spoke with said that it would be a better 'Tax' route to go with an "S" Corp rather than a C Corp or an LLC.

 

I live in Texas... and thankfully only had to pay $205.00 for the filing fees and license in Nevada. Texas would have royally wasted me on filing fees

[creditseeker2005]

I have been reading this thread but have a few questions that effect my particular situation.

 

Any suggestions on reputable attorneys or accountants with expereience setting up multiple corporations?

 

I am starting two totally different types of businesses and want to keep them seperate.

 

I was thinking of setting up one main corp and then having sub corps or llc's under it for each business.

 

Not really sure though.

 

Any help would be appreciated.

[Deaf CEO]

Hi I am new to the board after beening in lurker mode for a while.

 

On the matter of incorporating. It is best to incorporate in the state that you live in.

 

I was told by my CPA that if i incorporate in Deleware but I do my business in Georiga then I am opening myself to being double taxed by both Deleware and Georiga.

 

However, I wish I live in Florida because they dont have a state income tax only federal tax!!!

 

If I am wrong please let me know.......

[Skipper12]

Hi I am new to the board after beening in lurker mode for a while.

 

On the matter of incorporating. It is best to incorporate in the state that you live in.

 

I was told by my CPA that if i incorporate in Deleware but I do my business in Georiga then I am opening myself to being double taxed by both Deleware and Georiga.

 

However, I wish I live in Florida because they dont have a state income tax only federal tax!!!

 

If I am wrong please let me know.......

<{POST_SNAPBACK}>

 

Deaf CEO,

 

Florida doesn't have a personal income tax, but does have business tax returns that are required. It all depends on how the business is setup.

 

Here's some info from the Florida Dept of Revenue

:http://www.myflorida.com/dor/taxes/corporate.html

 

Take care,

Skipper

[JKDMed]

Just started applying today.

 

Company is about 2 months old and is a LLC. I'll update as I get more.

 

Dell $5,000

[pwelborn]

Concerning phone lines. I have a NM LLC and of course live in another state. My Registered agent said get an 800# that rang through to my cell phone. He had no solution on how to do so. So tell me how to rig this on a budget.

[pwelborn]

Somebody tell me how to get a phone out of state to ring through to a cell "cheap"

[barbados]

Somebody tell me how to get a phone out of state to ring through to a cell "cheap"

<{POST_SNAPBACK}>

 

Vonage - http://www.vonage.com

 

Set up a remote number in whatever city they support, then call forward that number to your cell phone.

 

:-)

 

It might not be the absolute cheapest route, but it's quick and efficient - you could have a number up and running in less than an hour.

[Peekaboo]

I can't believe I read the whole thing!

*burp*

[pwelborn]

For # 20 about aged LLC's. Unless you have legal problems and need to say "my assets were in the corporation before it all happened" there is no need for an aged one I think. Have you been asked how long you are in business on an application? Not me!

[pwelborn]

C Corps gett double taxed once on the profit and again on any disbursement of funds (dividends)

[pwelborn]

Hello Gromit and others, saw your comment concerning checking accounts. My guy told me how that he does this with no pg . Here we go when you go to the bank when you are asked what type of account you want you tell them it is an unincorporated association or trust. If you have an LLC just leave that off and put the name. Now every account needs a person for the signature card. That is who signs. It is not a guarantor. You put your name and to the side put "agent" "Authorized Representative" some title to keep you at arms length of the corp. you don't want to be associated with it.

[pwelborn]

I think I might have a back door to office depot credit. Did you know they own Viking office supplies ! They are easy !

[breeze]

Since people keep posting their questions at the end of this thread, I am closing it to further posting. Please post your questions and comments on the business credit main forum.

 

http://creditboards.com/forums/index.php?showforum=27

 

just click on the blue button with white writing that says "new topic", upper right of the page, just above the blue band. Thanks