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I would like to incorporate my business, but I am filing bankruptcy in May, should I wait to incorporate?

  • ernesto n posted: 26 Jun at 6:55 pm

    your filling for bankruptcy why Incorporate your business it would cost you additional fee. And no body would believe in you for a short period of time your bankrupt. And your business is only services

  • eji posted: 28 Jun at 8:12 pm

    WHY?
    If you are sole proprietor now, you can deduct losses from your personal income.

    In a corporation, the corp takes the losses, but what for? Evidently there are no profits to wipe out.

    Hmmmmm. So, you don’t want bankruptcy on your personal record.

    To incorporate, you will need some capitol and draw that as income in order to purchase stock in the corporation.

    If you have already filed for bankruptcy, I don’t think you can incorporate during the process.

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