Corporate Tax Election slightly OT

Discussion in 'Credit Talk' started by 3dayevntr, Jan 15, 2004.

  1. 3dayevntr

    3dayevntr Well-Known Member

    I have a couple of Business questions. What is the best way to start establishing Business credit without a personal guarantee? Are secured cc a way to go?
    Also, perhaps someone may be able to help me with the folowing question.


    I am thinking of incorporating my business. At this point it is small, about 20,000 a year in revenue.

    I would be the sole officer/shareholder, no other employees as yet. I am in California.

    Would it be best tax wise , to have an S corp, or not have an S election?

    I am aware of the AMT in Ca but am curious for a smaller business if the tax savings would be greater for a flow through election, instead of being taxed twice, or would keeping capita in the corp and paying me a salary be best?.

    I apologize for being OT.

    3day
     

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