Comments on: Some thoughts on incorporating http://thoughtsontranslation.com/2008/09/26/some-thoughts-on-incorporating/ ...the translation industry and becoming a translator Wed, 28 Jul 2010 18:30:00 +0000 hourly 1 http://wordpress.com/ By: Which is the Best State to Incorporate a Small Business LLC « CopaLLC's Blog http://thoughtsontranslation.com/2008/09/26/some-thoughts-on-incorporating/#comment-2408 Which is the Best State to Incorporate a Small Business LLC « CopaLLC's Blog Mon, 12 Oct 2009 18:41:29 +0000 http://corinnemckay.wordpress.com/?p=246#comment-2408 [...] are a few blogs and sites we have found useful: Why in Delaware? : http://www.delawareintercorp.com/t-WhyIncorporateinDelaware.aspx Home state vs other state?: http://www.bizfilings.com/Learn_About/Where_Should_I_Incorporate What [...] [...] are a few blogs and sites we have found useful: Why in Delaware? : http://www.delawareintercorp.com/t-WhyIncorporateinDelaware.aspx Home state vs other state?: http://www.bizfilings.com/Learn_About/Where_Should_I_Incorporate What [...]

]]> By: IcoText http://thoughtsontranslation.com/2008/09/26/some-thoughts-on-incorporating/#comment-803 IcoText Tue, 02 Dec 2008 20:55:30 +0000 http://corinnemckay.wordpress.com/?p=246#comment-803 Hi Corinne, For those looking for an incentive to incorporate, please check my blog post for a time-limited promotion at http://icotext.wordpress.com/2008/12/02/incentive-to-incorporateincentive-to-incorporate/ Cheerio, Dierk Hi Corinne,
For those looking for an incentive to incorporate, please check my blog post for a time-limited promotion at http://icotext.wordpress.com/2008/12/02/incentive-to-incorporateincentive-to-incorporate/
Cheerio,
Dierk

]]> By: Incentive to incorporate « IcoText http://thoughtsontranslation.com/2008/09/26/some-thoughts-on-incorporating/#comment-802 Incentive to incorporate « IcoText Tue, 02 Dec 2008 20:52:51 +0000 http://corinnemckay.wordpress.com/?p=246#comment-802 [...] P.S. Please check out the Thoughts on Translations blog post on incorporating at http://thoughtsontranslation.com/2008/09/26/some-thoughts-on-incorporating/ [...] [...] P.S. Please check out the Thoughts on Translations blog post on incorporating at http://thoughtsontranslation.com/2008/09/26/some-thoughts-on-incorporating/ [...]

]]> By: Judy Jenner http://thoughtsontranslation.com/2008/09/26/some-thoughts-on-incorporating/#comment-601 Judy Jenner Mon, 29 Sep 2008 22:36:11 +0000 http://corinnemckay.wordpress.com/?p=246#comment-601 Great post, Corinne, thanks for researching this all so well. Perhaps this could morph into an expanded chapter of your book (beyond the great info you have there now)? I am currently an LLC, and Nevada (I live in Las Vegas), there are very good tax benefits (no state income tax, yay!). My accountant suggested I submit paperwork to the IRS to get taxed as an S-Corp while remaining an LLC, stating this creates tax savings. I went ahead and did this, but it's only my first year as a full-time freelancer, so I hope it works out well. I am a bit fuzzy on the details, but looks like LLC being taxed as S-Corp is the way to go for me now. BTW, I really wish the ATA could create a network of accountants that work with freelancers and self-employed folks like us for reasonable rates. I am consistently running into trouble finding a good accountant. Great post, Corinne, thanks for researching this all so well. Perhaps this could morph into an expanded chapter of your book (beyond the great info you have there now)?

I am currently an LLC, and Nevada (I live in Las Vegas), there are very good tax benefits (no state income tax, yay!). My accountant suggested I submit paperwork to the IRS to get taxed as an S-Corp while remaining an LLC, stating this creates tax savings. I went ahead and did this, but it’s only my first year as a full-time freelancer, so I hope it works out well. I am a bit fuzzy on the details, but looks like LLC being taxed as S-Corp is the way to go for me now.

BTW, I really wish the ATA could create a network of accountants that work with freelancers and self-employed folks like us for reasonable rates. I am consistently running into trouble finding a good accountant.

]]> By: Corinne McKay http://thoughtsontranslation.com/2008/09/26/some-thoughts-on-incorporating/#comment-599 Corinne McKay Mon, 29 Sep 2008 17:54:09 +0000 http://corinnemckay.wordpress.com/?p=246#comment-599 @Abigail and MT, thanks for your comments, glad you enjoyed the post. MT, very good point that incorporating seems intimidating at first, but once you're in the routine, it's not much harder than any other administrative procedure. @Abigail and MT, thanks for your comments, glad you enjoyed the post. MT, very good point that incorporating seems intimidating at first, but once you’re in the routine, it’s not much harder than any other administrative procedure.

]]> By: MT http://thoughtsontranslation.com/2008/09/26/some-thoughts-on-incorporating/#comment-594 MT Fri, 26 Sep 2008 22:12:24 +0000 http://corinnemckay.wordpress.com/?p=246#comment-594 This is very good advice! I would add only that, if in doubt, one should opt for an LLC because the paperwork is generally easier and the self-employment tax is identical to what you pay as a sole proprietor. In general, I think that anyone who works as a freelance translator really HAS to be an LLC or S-Corp (etc.). The initial expense of incorporating is a one-time thing, but as you pointed out once you're settled into the new routines of paperwork, etc., it's very straightforward and gives you peace of mind. This post should be required reading for all translators, beginners and old pros alike. This is very good advice! I would add only that, if in doubt, one should opt for an LLC because the paperwork is generally easier and the self-employment tax is identical to what you pay as a sole proprietor. In general, I think that anyone who works as a freelance translator really HAS to be an LLC or S-Corp (etc.). The initial expense of incorporating is a one-time thing, but as you pointed out once you’re settled into the new routines of paperwork, etc., it’s very straightforward and gives you peace of mind. This post should be required reading for all translators, beginners and old pros alike.

]]> By: Abigail http://thoughtsontranslation.com/2008/09/26/some-thoughts-on-incorporating/#comment-593 Abigail Fri, 26 Sep 2008 20:39:05 +0000 http://corinnemckay.wordpress.com/?p=246#comment-593 Thank you for another highly interesting post, Corinne. This topic has been weighing on my mind recently so I'm definitely going to look into incorporating in some way. Thank you for another highly interesting post, Corinne. This topic has been weighing on my mind recently so I’m definitely going to look into incorporating in some way.

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