How to Start Your Own 'S' Corporation, Second Edition [Paperback]

Robert A. Cooke (Author)

Book Description

ISBN-10: 0471398128 | ISBN-13: 978-0471398127 | Publication Date: March 2, 2001 | Edition: 2

Everything you need to know about forming an S corporation or limited liability company

This new Second Edition of How to Start Your Own S Corporation provides small business owners with the real facts about forming an S corporation. Newly updated, this one-of-a-kind guide tells you everything you need to know on the subject, with step-by-step guidance, savvy insider tips, and a wealth of hard-to-get information on S and every other type of corporation your business may qualify for.

This Second Edition updates the many changes in income tax law since the original publication, including the expansion of the allowed number of stockholders, the new rule that S corporations can own subsidiary corporations, new rules for medical expense benefits, and new IRS rules for LLC classification. The Second Edition of How to Start Your Own S Corporation includes:

*Up-to-date information on recent changes in tax law affecting S corporations, LLCs, and stockholder rules

*The latest updated IRS forms

*Clear explanations of the advantages and disadvantages of S corporations, LLCs, partnerships, C corporations, and other legal forms of business

*Straightforward expert advice on choosing the business form that's right for your goals and income level

*A detailed plan for setting up your corporation and finding affordable professional assistance

*Dozens of eye-opening, real-life examples

*New information when tax law changes at www.robertcooke.com

So, whether you are thinking about starting your own business or you already own a small business, the Second Edition of How to Start Your Own S Corporation will give you all the insider information you need to take full advantage of current tax law.

Editorial Reviews

From the Back Cover

Everything you need to know about forming an S corporation or limited liability company

This new Second Edition of How to Start Your Own S Corporation provides small business owners with the real facts about forming an S corporation. Newly updated, this one-of-a-kind guide tells you everything you need to know on the subject, with step-by-step guidance, savvy insider tips, and a wealth of hard-to-get information on S and every other type of corporation your business may qualify for.

This Second Edition updates the many changes in income tax law since the original publication, including the expansion of the allowed number of stockholders, the new rule that S corporations can own subsidiary corporations, new rules for medical expense benefits, and new IRS rules for LLC classification. The Second Edition of How to Start Your Own S Corporation includes:

•Up-to-date information on recent changes in tax law affecting S corporations, LLCs, and stockholder rules

•The latest updated IRS forms

•Clear explanations of the advantages and disadvantages of S corporations, LLCs, partnerships, C corporations, and other legal forms of business

•Straightforward expert advice on choosing the business form that’s right for your goals and income level

•A detailed plan for setting up your corporation and finding affordable professional assistance

•Dozens of eye-opening, real-life examples

•New information when tax law changes at www.robertcooke.com

So, whether you are thinking about starting your own business or you already own a small business, the Second Edition of How to Start Your Own S Corporation will give you all the insider information you need to take full advantage of current tax law.

About the Author

ROBERT A. COOKE, CPA, has had twenty years of experience in public accounting. Prior to becoming a CPA, he was the owner and co-owner of three successful small businesses. He has taught numerous seminars on finance and accounting for several organizations, including Pryor Resources, Inc., and is also the author of Doing Business Tax-Free and Small Business Formation Handbook, both from Wiley.

Product Details

• Paperback: 256 pages
• Publisher: Wiley; 2 edition (March 2, 2001)
• Language: English
• ISBN-10: 0471398128
• ISBN-13: 978-0471398127
• Product Dimensions: 10.9 x 8.6 x 0.8 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 3.0 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #1,212,446 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

29 of 32 people found the following review helpful:

2.0 out of 5 stars Confusing, not enough detail, October 21, 1999

By A Customer

This review is from: How to Start Your Own (Subchapter) S Corporation (Paperback)

HOW TO START YOUR OWN (SUBCHAPTER)S CORPORATION initially deceives the reader into thinking it will be easy to understand, because of the author's folksy style and use of plain language. However, the information in the book is not organized helpfully, nor is it complete. For example, there is one mention of Social Security Tax in the index; upon looking at the correct page for this mention, I found an only an irreverent reference to the possibility that FICA taxes may not be returned to taxpayers in Social Security payments. In the "Summary and Examples" section of Chapter 3, the author states, "...again, the IRS and the Social Security Administration won't like that procedure..." (i.e., taking all S corporation profits as dividend distributions) but I was unable to find where the author had discussed this at all (why say, "again,"?)

Furthermore, an updated edition would be welcome inasmuch as there have been several changes to S Corporation regulations, the most notable being in 1996 when the limit on number of stockholders was changed from 35 to 75, a substantial increase indeed.

33 of 37 people found the following review helpful:

1.0 out of 5 stars Very Disappointed, November 25, 1999

By 

Robert E. Bell (Montrose, CO) - See all my reviews
(REAL NAME)   

This review is from: How to Start Your Own (Subchapter) S Corporation (Paperback)

I was very disappointed with this book. Its cover gives the impression, with bullets, that you will be able to learn several things from the author. For example 1) Using an S Corp for a personal tax shelter. 2) Completely avoid paying any income tax. I bought this book thinking that I would be taken through a step by step process on how to accomplish at least those items highlighted on the books cover. But instead, I was taken through a lot of general information without really being tought how to "do" anything. I believe that the author is knowledgeable, however this book was sold as a "how to" book. It feel way short of that mark.

6 of 8 people found the following review helpful:

5.0 out of 5 stars Excellent information and advice., December 29, 2003

By A Customer

This review is from: How to Start Your Own (Subchapter) S Corporation (Paperback)

I own and operate my own S-Corporation, and I found this book to be chockful of invaluable information and advice for setting it up and running it. I strongly recommend the book.