Medlin & Medlin, PA
Attorney at Law
(704) 786-8173
Concord, NC 

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CORPORATION

So you are thinking of operating your business as a corporation.

There is something you need to know about operating your business as a corporation.

When you incorporate properly, your corporation acts as a shield against lawsuit liability coming against your personal assets, like your home, car, bank accounts, etc.

I encourage you to incorporate your business.

However, your corporation will be treated as a C corporation by the

IRS unless you elect to operate as an S corporation. The C corporation is like General Motors and pays tax on its own. The owners of the corporation also pay tax on the dividends they

receive from the profits – DOUBLE TAXATION. I will probably urge you to elect to operate as an S corporation where the profits or losses of the corporation pass through to you as the individual owner without tax to the corporation.

However, that S corporation election must be made far enough in advance. Otherwise, you will have to file your taxes as a C corporation and be subject to double taxation.

ALL YOUR PAPERS must be prepared correctly or your corporation fails and you lose the corporate protection you need.

My job is to protect my clients.

Let’s talk about incorporating to minimize your personal risks of lawsuit judgment.

Call me.