why would a professional person wish to incorporate a practice into a corporation
136439
For protection from liability.  If a professional does not incorporate or form a partnership, their personal property is subject to creditors and other judgements.  Corporations and partnerships protect the personal assets of the professionsl.
532795
I am a Realtor and I am also a Corporation....Now sure why.....That is just what my accountant said would be best....That way if I get sued they can only go "personally" as deep as my Corporation and not my cut me through my personal (protects my family)....Talk to your accountant about it....IT is a nice protection to have.....
333546
Look into organizing a limited liability company (LLC).  LLC's will protect your personal assets like a corporation, and you get taxed like a partnership (no double tax like corporations).  LLC's have less paperwork generally, but the owners (members) still need to abide by the Organization Agreement and Articles of Organization.\n\nA corporation is an option, and an IRS subchapter S election may be the way to go, and if so, will save you taxes.  And yes, the corporation will protect your personal assets so long as you observe the distinction between the corporation and yourself.\n\nAs you have noted, a partnership will expose you individually to the partnership's liabilities.\n\nThe botton line is that you need legal and tax advisors.  The information you get here are mere talking points that you can use for discussion with real professionals.  It will cost some money, but it is worth it because you will be laying the foundation for establishing your future tax and legal liabilities.  Make sure that your lawyer is licensed by the California Bar and that your accountant is a licensed CPA in California.
400929
Depends on whether the Professional was an employee of the group or a partner with equity ownership & whether the file is "open" or closed.\n\nIf the professional was an employee, the group retains ownership of all closed files.  It also retains ownership of any open, on-going files IF the patient/client  remains with the group.  If the patient/client chooses to go with the moving professional, s/he has the right to have his/her files transferred (tho' the originating firm may keep copies)\n\nIf the professional was an equity partner, ownership would be determined by the partnership agreement.  However, here again, the patient/client has an absolute right to transfer his/her treatment/representation to the withdrawing partner. \n\nIf the doctor/lawyer is a sole owner and ceases practice, state law for doctors, and law or Bar Assoc. rules require (a) existing or recent patients or clients be notified & given an opportunity to retrieve their files.  If that cannot be done -- say if the professional dies suddenly, (b) that records be maintained for a period of time by (depending on jurisdiction) either a designated person in the same profession, the professional's executor; or a custodian or trustee apppointed by a court.
449497
The corporation is the company itself, and the incorporation is the act of it becoming one.
11309
Frankly, I think that's on purpose.  In my business, consultants are a big part of it, generally brought in as "experts" in a particular field.  They all strike me as people who decided they were smart enough to sell all their brilliant ideas to others.  They make most of their decisions with little idea of your local marketplace, take all the credit when you succeed, and blame poor execution when you fail.  They are often forced on us by higher-ups looking for some "quick fix" to a problem better solved more methodically.\n\nThere are many brilliant people who are likely benefitting their fields by making their expertise more widely available.  I just haven't run into all that many.
165821
It's when a firm, by being there, is good for others.  A commercial building might increase the value of the residential buildings around it because it's more convenient to have a close-by place to shop.
124697
You might get a better chance asking your company law office, that a way you have your ducks in a row instead of your business getting chopped up or taken over. protect yourself and mostly your employees.
164364
If you choose to stay a sole proprietorship, any and all liabilities go straight through to you personally.  Your home and all your assets can be seized if a judgment is obtained against you.  The same for being a general partner in a partnership.  A corporation is clumsy for a home-based business, is expensive to set up, and "piercing the corporate veil" is easy if anyone decides to sue you, UNLESS you've been super-meticulous about keeping records, holding shareholder meetings, director meetings and so forth and keeping written minutes (records) of those meetings.  It's easy with a personally owned corp., for someone suing you to argue that it's just a sham corp., the owner's alter-ego.  The corporate veil has thereby been pierced; you're worse off than if you'd never filed an Articles Of Incorporation.\n\nAn LLC is the way to go: unlike Corp., your income is not subject to double taxation.  But LEARN about these at Borders Books or Barnes & Noble first, before filing an L.L.C. "Articles Of Organization" with your state.  In my state, it costs $ 125. to do that, plus filing what's called a "Docketing Statement."  Learn from spending a few evenings in these bookstores (and perhaps investing in a couple of the better books, found in the Business And Money Management area of the store) what you need to know and how the finances of an L.L.C. will need to be looked-after.  You will probably be REQUIRED by your state, to have the words "Limited Liability Corporation" or "L.L.C." in your business's legal name.  That will necessitate a new business license, or at least a change of name on your existing license.  Do it right, and an L.L.C. will keep you safe in the event of a claim.  This (structure as an L.L.C.) is no substitute for general liability insurance; carry that as well.  ecommrc at yahoo dot com Jack Nelson Harrisburg, PA
645788
A business usually hires a consulting firm to do odd jobs for them.  It could be a one day project that is basically crap work, or it could be a multi-million dollar project that lasts for years.\n\nSome firms just do one area like "computer consulting" or "financial services consulting".
98425
If I was you I would go for it.  Put it this way it might help your position in the company.  Things could not be better for you.  Do you realize how many people wish this would hapen to them.  I would not worry about it and have some fun. good luck
212063
Three Reasons:\n1) So the government can make sure that it can collect taxes from you.\n2) So the government can regulate your business.\n3) Reduce competition for established firms.
440814
Do you have the papers to verify the existence of the LLC?  Because, for what you said, I think you should check Option h and you meet the requirements for Exception 1, you have a partnership interest.
618704
In order to set-up a Corporation in a state in which you do not live, you will need to enlist the services of a "Resident Agent" within the state you intend to incorporate in. chose wisely in the state of Nevada, it is extremely easy to become a victim of fraud there, and there is very little you will be able to do about it if you do. Furthermore, even if an individual is registered with the Nevada Secretary of State as a registered agent, there are still no guarantees. An example of a more secure "Resident Agent" company to work with would be, "Nevada Corporate Headquarters" in Las Vegas (NCHInc.com). \n\nFinally, given the bad reputation of Nevada companies, you may want to consider incorporating in Delaware instead.
328444
No. If the LLC is taxes as a partnership or an S corp, that member gets a K-1 from the LLC saying how much that member should claim on their personal tax return as business income. They only pay income tax on that. If they had to pay SS and Medicare on that, there would be no purpose in having the LLC or any entity, for that matter. They could just be a Sole Prop and show the business income on a Schedule C.
130627
I'm pretty sure that C can do that, because 1/3rd of the partnership is his. The Partnership, provided its not a corporation, is part of his personal assets.
294205
If you own the company it would be logical that you could make long distance calls.  In this way it would not only be logical but ethical as well.