Should I incorporate my business?
Before you incorporate your business you should seek legal and tax advice to review the benefits and disadvantages on incorporating. You may be able to separate business and personal finances when it comes to creditors, but you also might double the taxation of your income.
Can I borrow money from my wholly owned business?
Yes, you can borrow money from your wholly owned business. You will just need to ensure that the loan is properly documented so that the IRS will not reclassify the proceeds as compensation or dividends
What is a buy-sell agreement?
A buy-sell agreement is a contract that provides for the future sale of your business interest or for your purchase of a co-owner's interest in the business. Buy-sell agreements are also known as business continuation agreements and buyout agreements.
What are incentive stock options (ISOs)?
ISOs are a form of stock option that employers can grant to employees. A stock option is a right to buy a specified number of the company's shares at a specified price for a certain period of time. ISOs are also known as qualified or statutory stock options because they must conform to specific requirements under the tax laws to qualify for preferential tax treatment.