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Starting a buisness Want to know about incorporation

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Old 11-24-2007, 08:46 AM     #1
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Confused Starting a buisness Want to know about incorporation

I am in Fl. and considering starting a buisness. At what point is it a good
idea to incorporate? Also would incoporating provide me any protection from an ex wife? the court? or child support? I want to know if I can place everything under a coporation, collect a "salary" equal to my job and hide assets, money et. from my ex wife or the court so that nothing could be seized for child support?
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Old 11-25-2007, 12:41 PM     #2
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Default Re: Starting a buisness Want to know about incorporation

See Starting a business:

http://www.ss.ca.gov/business/resources.htm for general background information and http://www.sba.gov/library/pubs/mp-25.pdf

Also see the wiki section of this forum.

Last edited by wld_team : 11-25-2007 at 01:14 PM.
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Old 11-25-2007, 01:13 PM     #3
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Default Re: Starting a buisness Want to know about incorporation

When starting a company, you should talk to your accountant to discuss the best incorporation methods.

Incorporate as soon as possible preferably prior to engaging in any contractual relationships.

You can collect a salary from your company, however as it is a closely held company (only a few shareholders), extra scrutiny is placed to ensure there is not attempt to defraud.

If you form a corporation for the purposes of defrauding, that fraud will be discovered and you could be both criminally and civilly liable.

Anything you sell tot he company would still be an asset based on your shareholder percentage.

Creating a corporation for the purposes of minimizing your financial obligations is not legal, and does not work.
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Old 11-25-2007, 07:03 PM     #4
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Default Re: Starting a buisness Want to know about incorporation

None of that was my intent. My only thought was to keep her from getting increases and gaining some legal distance from her or the system so that I can atleast survive.
I pay what I am supposed to even though It is so I high I can't pay my own living expenses.
My ex wife is getting enough already and would get more if she could. There is no provision in the law for me to pay such high child support and pay my own living expenses. The court or nobody else cares what happens to me.
Since I have tried everything and nobody else cares at all why should I????

Commiting any sort of fraud was not my intent in starting a buisness, only some protection from my ex wife and the system and from her getting an increase solely because I have a buisness or corporation. If I do this she {my EX wife} will see "green" and go for my jugular! With the courts help of course.

If I can;t come up with some way to survive while I pay for 2 "disabled" kids forever and protect myself from her somehow, I will just give up altogether....why bother any more??? NOBODY CARES.....
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