How To Start And Run Your Own Corporation: S-Corporations For Small Business Owners (Paperback)

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Editorial Reviews

Review

"Buy the book and wade through the details. You will be grateful for the knowledge!" -- Paul Tulenko, Syndicated Small Business Columnist

Product Description

How To Start And Run Your Own Corporation: S-Corporations For Small Business Owners begins where many incorporation books leave off. Peter Hupalo, author of Thinking Like An Entrepreneur, teaches you the basics of corporate business structure. How To Start And Run Your Own Corporation: S-Corporations For Small Business Owners will help you understand:

* Which Business Structure Might Be Best For You
* How To Decide Between An S-Corporation And A LLC
* How To Choose Your State Of Incorporation
* How To Form Your Own Corporation
* S-Corporations
* Par Value And No Par Value Stock
* Issuing Shares
* Valuing A Small Business Corporation
* Financing A Corporation Through Equity And Loans
* Attracting Angel Investors For Your Corporation
* Shareholder S-Corporation Basis
* The Accumulated Adjustments Account (AAA) And Schedule M-2
* Filling Out The 1120S Corporate Income Tax Return
* Special Issues For One-Person Corporations
* The Role of Bylaws And Corporate Minutes
* The Role of Directors And Officers
* Withdrawing Money From Your Corporation
* Social Security/Unemployment Insurance On Officer Salaries
* Workers' Compensation Issues For Officers
* Fringe Benefits And Employment Issues
* Qualified Retirement Plans, SIMPLE-IRA, SEP-IRA
* The One-Person 401(k) Retirement Plan
* How To Determine If Your Retirement Plan Is Safe From Bankruptcy
* How To Minimize Your Taxes
* The Tax Difference Between Pretax Purchases And After-Tax Purchases
* How To Prevent Your Corporate Shield From Being Pierced

Product Details

• Paperback: 208 pages
• Publisher: HCM Publishing (March 6, 2003)
• Language: English
• ISBN-10: 0967162440
• ISBN-13: 978-0967162447
• Product Dimensions: 8.9 x 6 x 0.7 inches
• Shipping Weight: 7.2 ounces (View shipping rates and policies)
• Average Customer Review: 4.5 out of 5 stars  See all reviews (8 customer reviews)
• Amazon.com Sales Rank: #127,229 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

87 of 87 people found the following review helpful:

5.0 out of 5 stars The Book Saved Me Money, November 24, 2004

By	John Matlock "Gunny" (Winnemucca, NV) - See all my reviews (REAL NAME)

This book is, to me, misnamed. It's really about how taxes are collected on various types of business structures. It discusses the various business organizations such as sole proprietorships, limited liability companies (LLCs), and corporations. Under corporations both C and S corporations are covered. (I can't think of a catchy title to say that, so I guess the book can stay named as it is.)

Most of the book is on the S corporation. This makes sense as most small business should probably be S corporations. The small business isn't going to attract large numbers of investors. By shifting the income of the business to an S you can often save several thousand dollars in taxes by shifting between salary and dividends or what the IRS calls earned income and passive income.

When I got the book I had a couple of questions in mind like "how much salary should I pay myself." These questions aren't answered in most "how to incorporate" type books. What I wanted was two answers, what does the law say, and what are the real rules. I got both answers quickly and easily.

For me, the information I wanted was covered in about 10% of the book, the rest of the material I either knew or didn't care about. That 10% that I needed saved me many, many times the cost of the book.

72 of 73 people found the following review helpful:

5.0 out of 5 stars Buy it with pre-tax dollars!, August 24, 2003

By	Morris Rosenthal (Springfield, MA United States) - See all my reviews

This is a great read for anybody considering incorporation or investing in an existing business. The author employs dozens of examples to illustrate the key decisions involved in choosing a business structure and how to manage it. Potential downside is given equal weight with potential savings, and often neglected issues affecting minority shareholders like "dilution" and "freeze out" are given a fair hearing.

The section on pre-tax vs. post tax purchases was particularly well illustrated. Find out why a $0.37 stamp may cost you $0.25 when you buy it through your business and $0.56 when you steal it from your personal stationary drawer. The author's conservative approach to accounting was refreshing in a world of books that profess to tell you how to beat the IRS. The strategies for maximizing shareholder income in this book are based on solid, legitimate planning.

The only fault I found with the book is that the number of examples led the author to be a little too imaginative with made-up business names. However, that wasn't enough to stop me from reading it from cover to cover in less than 24 hours.

33 of 37 people found the following review helpful:

3.0 out of 5 stars Focus, December 29, 2004

By	SCorpNovice (Tacoma, WA) - See all my reviews

I found the book focused more on C Corporations. A few of the chapters did focus on S Corps and it answered a lot of questions I had, and also raised more questions in the process. I found it did not go into real detail on S Corp deductions, or how to handle tax liability for an owner/employee.