<div>About fifteen years ago I took my accountant and my lawyer out to lunch, and asked each one of them to explain why I should or should not become an S corp. The bottom line was that although I will save some money on my taxes, most of the savings, and then some, will be spent on legal fees and additional accounting fees. Unless you are making well above $100,000 a year (after expenses), it's really not worth becoming a S-corp. My son, who is a CPA, and would do all my taxes for me now for free, doesn't see the benefits of me becoming a S-Corp, either.</div> <div> </div> <div>Just my 2 - cents worth.  <br> <br> Willem (Wim) Blees, RPT<br> Piano Tuner/Technician<br> Honolulu, HI<br> Author of <br> The Business of Piano Tuning<br> available from Potter Press<br> www.pianotuning.com</div> <br> <br> -----Original Message-----<br> From: Geoff Sykes <thetuner@ivories52.com><br> To: Pianotech@Ptg. Org <pianotech@ptg.org><br> Sent: Tue, 18 Mar 2008 7:47 pm<br> Subject: Incorporation questions<br> <br> <div id=AOLMsgPart_2_cb37ef79-b301-41e0-bc22-d5c7d7ead700> <div><FONT face=Arial size=2><SPAN class=500182305-19032008>Greetings all --</SPAN></FONT></div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008></SPAN></FONT> </div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008>I have gone through the archives and found the subject of Corporations and S Corporations has come up a couple of times. But those discussions were brief and didn't really delve into the process. For a number of reasons my tax guy has strongly advised me to go the S Corporation route.</SPAN></FONT></div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008></SPAN></FONT><FONT face=Arial size=2><SPAN class=500182305-19032008></SPAN></FONT><FONT face=Arial size=2><SPAN class=500182305-19032008></SPAN></FONT> </div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008>Today's questions are directed to those among you who have actually gone through the process of starting a corporation and then converting it to an S corporation.</SPAN></FONT></div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008></SPAN></FONT> </div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008>: What, exactly, is the process?</SPAN></FONT></div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008>: Did you do it yourself, or did you hire an attorney? </SPAN></FONT></div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008>: Changing from Sole Proprietor to Corporation, how do you cover the question of stocks and board meetings?</SPAN></FONT></div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008>: What about creating a business "name" that ends in Inc., Corp., or Ltd.? To whom do your tuning clients write their checks to?</SPAN></FONT></div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008></SPAN></FONT> </div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008>I've found all the forms. And even though there are only about three really basic items being asked for on them, I find myself overwhelmed with questions and procedures regarding the process of actually acquiring and/or creating those items.</SPAN></FONT></div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008></SPAN></FONT><FONT face=Arial size=2><SPAN class=500182305-19032008></SPAN></FONT> </div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008>So I guess my only real question is: How did you do it?</SPAN></FONT></div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008></SPAN></FONT> </div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008>-- Geoff Sykes, RPT</SPAN></FONT></div> <div><FONT face=Arial size=2><SPAN class=500182305-19032008>-- Los Angeles</SPAN></FONT></div> </div> <div id='u8CA57BC931228AD-D98-4F' class='aol_ad_footer'><FONT style="color: black; font: normal 10pt ARIAL, SAN-SERIF;"><HR style="MARGIN-TOP: 10px">Supercharge your AIM. Get the <A title="http://download.aim.com/client/aimtoolbar?NCID=aolcmp00300000002586" href="http://download.aim.com/client/aimtoolbar?NCID=aolcmp00300000002586" target="_blank">AIM toolbar</A> for your browser.</FONT> </div>