Easy Mississippi Incorporations For S Corps And LLCs

Incorporating in Mississippi? Before you telephone a CPA or lawyer, look into the money-saving alternative of preparing the articles of incorporation yourself. Free Internet resources provided by the IRS and the state of Mississippi mean the work is quite a bit less complicated than people think.

Reason #1 to try do-it-yourself: Free forms from state

To create a corporation or limited liability company in Mississippi, the entity's organizer (this is probably you) files some paperwork with the Secretary of State. This paperwork is called the articles of incorporation for a corporation and the articles of formation for a limited liability company. While creating these articles from scratch is best left to a professional, it turns out that the Mississippi Secretary of State will provide you with fill-in-the-blank forms you can use in place of "from-scratch" articles. And with the state's fill-in-the-blank forms, all you need to do is, quite literally, fill in the blanks

The Mississippi Secretary of State office changes the actual Internet website addresses of the fill-in-the-blank forms pretty regularly as part of updating its website. But if you know the exact name of the Mississippi forms, you can Google or Bing using the form name. That search will quickly locate the free forms.

Umbrella Company Versus Limited Company

It can be a tough decision to make, and one which will impact strongly on the next period of one's life. The choice between umbrella companies and limited companies for contractors should be approached with an open mind, and a keen eye for detail. To make the process that little bit simpler, let's take a look at some of the aspects of each option available to contractors.
Umbrella Company
An umbrella company performs a specific service for contractors. Essentially, they act as an employer to contractors who are engaged in a contracted assignment. The umbrella company processes a PAYE payroll for contractors, and offsets business expenses (travel expenses, accommodation expenses etc) against the contractor's tax.
Employment through an umbrella company is subject to the same employment rights as any other permanent, direct employment relationship. Entitlement to sickness pay, maternity and paternity leave, and minimum wage all full under the auspices of the benefits of working through an umbrella company.

C-Corporation: Protect and Grow Your Assets

The Big "C". In the beginning of this article I asked the question how can people that make millions of dollars a year in income pay no taxes. I left you hanging on the answer to that question........Until now. The C corporation is the big boy of legal structures. When it comes to maximum asset protection, benefits packages, and maximum protection from the tax collectors nothing beats the C corporation. The C corporation is made up of shareholders.
The shareholders are the actual owners of the corporation and profits are distributed in proportion to the amount of ownership. The major benefit of the C corporation that allows the rich (and now you) to make all of the money you want and avoid paying taxes on it is the fact that there is no limit to the business related tax deductions that can be taken by the C corporation. Any thing that you spend money on that is related to the business is tax deductible. If you decide to use this entity you will find out when you consult a corporate attorney that the interpretation of business related is a very loose one. You can literally spend your tax obligation down to zero. Rather than give the government their hard earned dollars they just spend the money on things that are tax deductible and beneficial to the company at the same time and then they just write it off. What you have to understand is that these companies are not evading taxes (which is illegal) they are avoiding them (which is perfectly legal).