Friday, April 24, 2009

I registered a Corporation Ill only need in 2 Years(!) Leave open or close and register again when I need it? -

Hi,I paid a lawyer $500 to register a corporation for me (reasonable amount where I live). Based on new accounting information I received, it looks like I will only use the company in 2 years(!) Should I close the company and open it again when I need one? OR should I just leave it open with no activity for 2 years in order not to pay legal fees again ($500) for registering a new company in 2 years? In other words, if I leave the company open will I have any accounting expenses in the meantime? OR since there is ZERO activity a reasonable accountant should not charge me anything in the meantime? Lastly, if I leave it open, will I have to send a tax return every year, even when company not active? THANKS.

you will have only 1 specific expense; the renewal of the corp at the corporate commission--or whatever you state calls theoffice that files corp apps.IF you have no activities you need not file any other papers with anyone.and, while you are at it, briefly study the benefits of havinga [small?] Research and Development company-divisionthat can account for all your expenses and from which youcan take accounting losses until you are earning a profitin 2 yrs.I would be tickled pink to learn what new acct data you pickedup that depicts advantages to hold off or whatever for your corp.I would like to know who advised a corp vs an LLC.[it offers protection and no annual fees]

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