<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=us-ascii"> <TITLE>Message</TITLE> <META content="MSHTML 6.00.6000.16544" name=GENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=#ffffff> <DIV><FONT face=Arial color=#0000ff size=2><SPAN class=000065121-19032008>Terry --</SPAN></FONT></DIV> <DIV><FONT face=Arial color=#0000ff size=2><SPAN class=000065121-19032008></SPAN></FONT> </DIV> <DIV><FONT face=Arial color=#0000ff size=2><SPAN class=000065121-19032008>Liability protection is definitely a good thing to have in the horribly litigious society we have turned into, but my primary reason for going S-Corp is reducing taxes. And from what I have learned so far the cost of going S-Corp is well worth it when compared to amount of income I will subsequently get to keep in my own pocket.</SPAN></FONT></DIV> <DIV><FONT face=Arial color=#0000ff size=2><SPAN class=000065121-19032008></SPAN></FONT> </DIV> <DIV><FONT face=Arial color=#0000ff size=2><SPAN class=000065121-19032008>-- Geoff Sykes, RPT</SPAN></FONT></DIV> <DIV><FONT face=Arial color=#0000ff size=2><SPAN class=000065121-19032008>-- Los Angeles</SPAN></FONT></DIV> <DIV><FONT face=Arial color=#0000ff size=2></FONT> </DIV> <DIV><FONT face=Arial color=#0000ff size=2></FONT> </DIV> <DIV><FONT face=Arial color=#0000ff size=2></FONT> </DIV> <DIV><FONT face=Tahoma size=2>-----Original Message-----<BR><B>From:</B> pianotech-bounces@ptg.org [mailto:pianotech-bounces@ptg.org] <B>On Behalf Of </B>Farrell<BR><B>Sent:</B> Wednesday, March 19, 2008 3:28 AM<BR><B>To:</B> Pianotech List<BR><B>Subject:</B> Re: Incorporation questions<BR><BR></FONT></DIV> <BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px"> <DIV><FONT face=Arial>Don't forget the liability protection that the S Corp offers.</FONT></DIV> <DIV><FONT face=Arial></FONT> </DIV> <DIV><FONT face=Arial>Terry Farrell</FONT></DIV> <DIV><FONT face=Arial>Farrell Piano, Inc.</FONT></DIV> <BLOCKQUOTE dir=ltr style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"> <DIV style="FONT: 10pt arial">----- Original Message ----- </DIV> <DIV style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B> <A title=wimblees@aol.com href="mailto:wimblees@aol.com">Willem Blees</A> </DIV> <DIV style="FONT: 10pt arial"><B>To:</B> <A title=pianotech@ptg.org href="mailto:pianotech@ptg.org">pianotech@ptg.org</A> </DIV> <DIV style="FONT: 10pt arial"><B>Sent:</B> Wednesday, March 19, 2008 5:41 AM</DIV> <DIV style="FONT: 10pt arial"><B>Subject:</B> Re: Incorporation questions</DIV> <DIV><BR></DIV> <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 class=aol_ad_footer id=u8CA57BC931228AD-D98-4F><FONT style="FONT: 10pt ARIAL, SAN-SERIF; COLOR: black"> <HR style="MARGIN-TOP: 10px"> Supercharge your AIM. 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