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What is it that you do?
Where are your checks coming from?
Where do you live?
I have a Wyoming Corp set up. I have a DBA in California.
I also have a "Doing business as a foreign company set up in California. I also pay State taxes in California.
I also have it set up where someone else is the President with a physical address in Wyoming with a phone number and mail forwarding system.
Why? Not that i want to avoid paying taxes. Not trying to skirt the federal government and their cut of what I make. I carry insurance and workers comp insurance. I'm just an employee of my company and I don't look like the owner.(I do own all of the shares of the company) My big thing is if someone dies, catches HIV or anything unforeseen happens and it goes beyond my insurance, they won't be able to peirce my corporate vale and take everything I own personally.
Worst case situation, I can BK the company and walk away.
Corporations have so many uses depending on how you structure them. Knowing how to structure them and knowing what advantages they have for your personal and business situation is what is key.
I do have a legal background and I know how to do these things, but even I consult my attorney buddies that have "LLMs" (its like a masters degree for attorneys who are CPAs) in Tax law and I have a CPA so when I make a move, its the right move.
Hope that helps a bit. But your question is not directed to an attorney, but to a Tax specialist attorney. And those guys have CPA degrees, JD degrees and LLMs in tax law.
And from what I know, we don't have one of those on GFY.
Just Dave
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