I have a C-Corp which was started years ago when I had graphic arts business
with several employees. When we sold out years ago, we kept the C-Corp and
started doing business as (current) single person service with no employees.
The C-corp has less than/near $ 200K in assets (office equipment, stocks and
some cash.) - currently making a small profit, but I am 69 1/2 and
considering retiring in the next few years.
Should I continue to put/keep my business income into C-Corp.? I don't need
much personally?
Thanks
You need to consult an accountant to figure out what would be more
advantageous to you. Two issues:
1) How to wind down and get whatever value is in the corp out.
2) Figure out how much longer you are going to work and what kind of income
you think you are going to work. Talk to the accountant as to which way would
be more advantageous for you to bill under.
JGabriel | Community Moderator |
1/31/2013 - 11:32 am
A good place to start is with one of SBA resource partners: SCORE or Small Business Development Centers. These organizations provide free business counseling and training. To find your nearest SBA resource partner, enter your zip code in our local assistance guide.
loanuniverse | Window Shopper | 2/8/2013 - 8:53 pm
advantageous to you. Two issues:
1) How to wind down and get whatever value is in the corp out.
2) Figure out how much longer you are going to work and what kind of income
you think you are going to work. Talk to the accountant as to which way would
be more advantageous for you to bill under.
JGabriel | Community Moderator | 1/31/2013 - 11:32 am
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