Diversified Investors Group: NW Philadelphia Sub Group

[Joseph Scorese]

Diversified Investors Group: NW Philadelphia Sub Group

Monday, September 12th, 2016

6:30 PM to 8:30 PM

2nd Monday of the Month

Manayunk Brewing Company 4120 Main St, Philadelphia, PA 19127

Educational Speaker:Bob Chessick, Business Advisor, Incorporator, 14 Years of Experience, Chessick Organization LLC / Robert Chessick Corporation

Discussion:Incorporating 101

Why incorporate in the first place?

Robert will discuss the benefits of incorporating a business:

•Protecting your personal assets: Once your business is incorporated, it exists as a separate legal entity. This means that the corporation (and not you, the owner) is responsible for all of its debts and liabilities.

•What are your tax benefits: For some individuals and businesses, incorporating can help lower the tax burden.

• How it will change your outlook: You'd be amazed at how much adding three little letters (Inc. or LLC) after your company name can change the way you approach and perceive your business.

After “Do I need to Incorporate?”, or“What business structure is right?”These are great questions… Robert will cover

•The Limited Liability Company (LLC): The LLC is very hot among small businesses right now, and for good reason. It's a hybrid of a partnership and corporation. It offers liability protection, but with minimal corporate formalities (in a Corporation, you have to pass resolutions and file minutes whenever you want to make a change to the company…this isn't the case for an LLC).

•Corporation: The Corporation is the most common form of a for-profit corporate entity. There are actually two types: the S Corporation and C Corporation. Like the LLC, the S Corporation is also a pass-through entity for your income taxes.