Corporations

General Corporation (C Corp.)

The Internal Revenue Service (IRS) refers to general corporations as “C” Corporations. Forming a C Corporation allows a business owner to create a separate legal structure that can shield their personal assets from judgments against the business. Unless a corporation applies for S Corporation status, the IRS taxes corporate profits as well as dividends paid to shareholders. We refer to this scenario as “double taxation.” Double taxation refers to corporate and shareholder taxes. Corporations must pay taxes on their earnings. Individual shareholders must also pay taxes on any dividends they receive.

How can you benefit from a C Corporation?

Limited liability for directors, officers, shareholders, and employees.
Attract investors through the sale of shares.
Can issue more than one type of stock. (example: common and preferred class)
Perpetual existence, even if a shareholder leaves the business.
Can deduct ordinary business expenses as well as benefits to employees.

Services we offer to C Corporations:

Tax (Planning Corporation’s Future)

Corporate tax research and planning
Corporate tax compliance
Sales and Use tax
Payroll tax
Business and property tax

Consulting (Where is the Corporation headed?)

Forecasts and Projections
Business plan and design
Computer accounting systems
Design, maintenance and assistance
Year End Planning
Budgeting
Cash and asset management

Accounting (Monitor Growth)

Write-up and compilation of financial statements
Payroll, sales and use tax, and property tax preparation
Budgeting, Forecast modeling and cash flow management
Tax preparation and planning services
Internal control analysis
Accounting staff training

Assurance (Satisfy customers and investors)

Financial statements audit
Reviews
Compilation

Advisory (Safeguard Assets)

SOX 404 Compliance