S-Corporation is basically the same as C-Corporation except for tax benefits. They are taxed similar to partnerships. In S-Corporation, the income is taxed once, not as taxed twice. Some rules of the S-Corporation are that no more than 75 shareholders, all shareholders must agree to become an S-Corporation, all must be legal citizens in the United States, and stock can be of only one class.
Information about S-Corporations
In S-Corporation, shareholders are not personally responsible for all debts or damage. Because it is a taxable entity, profits will be taxed once and then passed on to shareholders. In their personal income tax, shareholders must bear the loss or profit from the corporation. S-Corporation cannot get a reduction in dividends received and the 10% taxable income limit for charity reduction does not apply to them.
S-Corporation shareholders control it. They are not permitted to become another partnership. When corporations get bigger they will eventually become Corporation C because of all the S-Corporation rules and regulations.
Until then or the corporation is dissolved, S-Corporation will always be there. The corporation will be there even if the shareholders change. S-Corporation will automatically be considered a C-Corporation if all rules and regulations no longer exist for S-Corporation.
You can have an S-Corporation in any state. The rules are different in some states, which also means taxation is possible. Be sure to check with the rules in the state where you want to form a corporation and be sure to follow it.
When dealing with financial and business problems, you should always talk to a professional who can answer any questions you might have. S-Corporation can be a great opportunity for someone who wants to change their business model and not get additional responsibility. Convenience comes with shareholders getting tax benefits and getting …Continue reading
You might feel hopeless thinking about the process of applying for your mortgage bankruptcy. However, it is possible to qualify if you plan and take the necessary steps. Key steps will include; wait, ensure that your credit report is correct, build a positive trading path and keep a steady job.
Qualifying for an FHA loan is one possibility
If you have made payments, you will be eligible if you have paid on time for at least 12 months. If you submit Chapter 7, you must wait at least 24 months after the date of release before being eligible. Keep in mind that the filing date is not the same as the blank date.
Get a copy of your credit report and make sure everything appears as it should. Accounts that are included in bankruptcy must appear as such on your file. This is preferred over accounts that show late payments or appear in billing or billing status. If it doesn’t appear as it should, you should file a dispute with each of the three agencies and send each of your bureaus a copy of your waste paper that specifies which account was entered. You can submit disputes by mail, telephone or fax. Include your name, address, social security number, and the nature of your dispute. By law, the agent will have a total of thirty days to examine the claim and will send you a corrected report after their investigation is complete.
Rebuilding your credit
If you have a current account with a good reputation, keep paying it on time. The age of the account affects valuation and therefore it is good to have a trading path that remains in good standing for a longer period of time. If you don’t have a positive account then you might want to …Continue reading
When starting a business or if you need financial assistance for an existing business, there are several business financial loans. Depending on the size of the loan and the business will help in decisions about what is right for you.
Loans Guaranteed From Small Business Administration
The small business administration does not give you a loan directly, but can guarantee financial institutions that it will be paid. This loan runs according to the requirements of the small business association. 7 (a) loan programs are the most flexible and the most widely used SBA. The main types 79a) loans are express programs, export loan programs, rural lender excellence programs, special purpose loan programs, CDC / 504 loan programs, micro loan programs, and disaster relief loan programs. This loan is made for businesses that already exist and are starting.
Before Applying for Small Business Administration Loans
There are a number of things that you need to do before you apply for any loan program. Before getting a loan with SBA, you must first try to be funded through a different source. If the requirements are reasonable and you qualify, you don’t need an SBA.
If you do not meet the requirements, then you can apply for an SBA loan program if your business meets the requirements of being a small business. Check the types of loans they offer and make sure they meet the requirements. Make sure the program you submit will provide you with enough financial assistance needed. Look to see if there are specifications you need to know.
Financial Information for Business Finance
Some financial information for your business finances will differ depending on whether you already have a business or are just starting out. If you have an existing business, then you will need the last three years of …Continue reading
When applying for business finance loans, the money you receive can be used on a variety of options. One item can be the property for which the business will be located. If the building you are going to be leasing needs improvement, you can use the funds for that. The funds can also be used for any renovation or construction that needs to be done. The business will need supplies that you can use the loan towards. For instance, the purchase of furniture, electronics, machinery you might need, and fixtures.
Getting Approval for Business Finance
Prior to applying for business finance you will want to check your business credit score. Ask the lending institution what is the minimum business credit score is needed to be approved. You will want to know this information, so you do not apply at the lending institution that your score does not meet the requirements.
If three lenders do the check of the score and you are not approved, then the chances another lender will approve it are slim. Different lenders might require different criteria to met, before you apply, ask for this information. You may also do a search online at different lenders to see what they require.
Different Types of Business Loans Available
There is more than one business loan that you may apply for. You will want to research each of them to make sure you try the one that best fits your businesses needs. Some of these loans include a micro loan. With this loan, you can receive anywhere from $5,000 to $35,000. This loan can be used towards any purpose of the business. Another loan is called development financing. This loan can be used towards improvements of a building that already exists or purchasing land. It can also be used …Continue reading
The New York Stock Exchange closed its trading floors on Monday October 29, 2012 after Mayor Bloomberg told folks in New York on Sunday that the transit system, subway would close at 7 PM and perhaps for a couple of days. This included the underground traffic tunnels and mandatory evacuations were required for low-elevation areas were issued due to Hurricane Sandy with an expected storm surge of 11-feet, plus 75 mph winds. Okay so, let’s talk about the NYSE closure due to weather, something that by the way hasn’t happened in 30-years.
Now then, the other day on October 19, 2012 the stock market had a negative 205.43 day on the DOW, which happened to be the anniversary of the 1987 crash, also known as Black Monday (October 19, 1987). Well, consider this, the New York Times noted in their online emailed edition that “On This Day” in history; Oct. 29, 1929, stock prices collapsed on the New York Stock Exchange amid panic selling. Thousands of investors were wiped out. On the front page of the New York Times on that dreadful day of 1929 there was an article titled;
“Stock Market Collapse in 16,410,030-Share Day but Rally At Close Cheers Brokers; Bankers Optimistic to Continue Aid”
Okay so, I guess knowing these two coinciding patterns, that this might be a very wise day to close the NYSE with or without a “historic storm” some 850 miles wide, which is Hurricane Sandy, which now combining as it hits the shore with a cold front. You know what happens when you mix wicked cold air with very warm air from a Hurricane let’s say. You get amazing thunder and lightning storms and massive amounts of rain, plus all that energy and moisture from the Hurricane, ouch! And consider that this is …Continue reading