Quick Incorporation Question!

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affiliatelife

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Feb 13, 2008
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I am incorporating this week.

I am non US.. I am incorporating in UK.

What should I use for 'proposed business activities'?

My thought would be:
Online marketing etc

Any suggestions would be appreciated.

Thanks.
 


I would urge you not to pick computer-consulting, at least here in the US you'll get fucked hard in the ass by the IRS because that's classed as a "personal services" corporation which means you will pay 35% tax.

Try web-publisher / entertainment publisher.
 
I see if you incorporate in US they ask for 'General business Purpose:'.

If you have any more suggestions it would be great.
 
online media, you don't want to pick anything that could be construed as a consulting business, personal service.
 
Sorry to hijack this thread.. but I had another quick incorporating question.

If I incorporate now, will I be able to transfer all of my income so far this year into the corporation? Or will I only be able to pay the lower corporate tax rate on income earned after incorporating?

Thanks!
 
Priority_Mail90 said:
I would urge you not to pick computer-consulting, at least here in the US you'll get fucked hard in the ass by the IRS because that's classed as a "personal services" corporation which means you will pay 35% tax.

Try web-publisher / entertainment publisher.
Click to expand...

It hasn't hurt me yet.

The SIC classification has very little to do with your tax filing anyway unless you actually do "personal services" as your primary business practice.
 
zach606 said:
Sorry to hijack this thread.. but I had another quick incorporating question.

If I incorporate now, will I be able to transfer all of my income so far this year into the corporation? Or will I only be able to pay the lower corporate tax rate on income earned after incorporating?

Thanks!
Click to expand...

Only that income after incorporating.
 
I seem to be gearing towards something along the lines of 'online media' as general business purpose.

If anyone else has some first hand experience, please share.
 
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