Setting Up A Corporation In New York State

    Written by Finance Video. Posted in Uncategorized

    Whether you think you have the next big invention, you’re starting out in private practice or consulting, or you have a great business idea ready for prime time, setting up a corporation has a broad range of benefits.  A corporation is a separate legal entity from its founders, owners and/or employees, which has many of the same legal rights as a person (but no, they can’t vote) and shares many of the same responsibilities, including paying taxes. Besides the obvious tax advantage inherent to becoming a corporate entity, setting up a corporation allows you to share ownership in a business venture, and often protects your personal assets from corporate losses, if things don’t quite go to plan.

    In New York State, there are three main types of corporations: S corporations (the largest, which can be, but aren’t necessarily, publicly traded), limited liability corporations (LLCs, which are the preferred choice for small businesses), and partnerships (a common structure for law firms and medical practices, where the individual members maintain their own accounts). LLCs are usually the easiest corporations to set up, requiring only a filing fee and a modest amount of paperwork.

    In order to start your own corporation, the essential step is filing a Certificate of Incorporation with New York’s Department of State. But while this can be done with one simple form, remember that setting up a corporation is a major decision — it is strongly suggest to consult with a lawyer, a financial advisor, or both before you file the paperwork. But to give you an idea of the process and what is involved, here are some of the choices you will need to make before you file

    Choosing a name for your corporation: Once you have filed this DBA (doing business as) name, it is somewhat difficult to change. Make sure you pick something that is memorable, relevant to what your business does, and most importantly of all, unique. Every corporation in New York must have a different name, and you will be required to announce your business’ name in the local Newspaper of Record.

    Stating your corporation’s purpose: Normally a mere formality, in which you can keep the state’s standard language. However, if your corporation intends to practice a profession (medicine, law or engineering), or otherwise be involved in a field with state licensing requirements, such as education or child care, this is where you need to make that declaration, and there may be subsequent steps involved with your profession’s board of licensure.

    County location: This one is simple – list the county where your business will be based, which is important for tax purposes, as well as possible tax credits and other development funds from county Industrial Development Agencies.

    Stock structure: This is where you decide how shares of your company will be apportioned, in other words, who in your business will own how much of it. Some shares can be designated for future distribution, but since you’re filing for an LLC and the shares can’t trade on the stock market, this decision carries exceptional weight for smaller businesses. Think especially carefully about who can get a controlling stake, and combine for over 51% of the total voting shares! Accounting for this now can prevent an expensive surprise later when employees or investors try to take over.

    Designation for Service of Process: Usually, but not always, your lawyer, the designatee for service is who will receive the paperwork in the event your corporation is sued.

    As long as your articles of incorporation meet these five requirements, and you pay the $125 filing fee, your application should be approved. Setting up a corporation is the easy part though — now that you have a small business of your own, you may need small business financial advice to avoid the pitfalls many inexperienced business owners face. canada goose damen canada goose damen canada goose damen

    Surging Tech Stocks Lead In Market Cap

    Written by Finance Video. Posted in Uncategorized

    In one of the strongest signs yet of the long-term effects of the economic recovery, for the first time since 1974, the world’s five largest corporations by market capitalization are both US-based and all in the same sector.

    While the last two years have been particularly bullish for tech stocks, the broader-market slowdown combined with continued growth in the internet sector have shifted the focus away from the traditional market titans, energy and heavy industry. This change reflects the shift in the employment market as well, with the smallest share of American labor involved in manufacturing since pre-industrial times.

    The five largest companies, as of the close of trading today, are Apple (AAPL +32.7% YTD), Alphabet (GOOGL +25.7%), Microsoft (MSFT +13.3%), Amazon (AMZN +32.9%) and Facebook (FB +32.4%), all of which easily outperformed the S&P 500 index (SPY +8.1%).

    Amazon’s ascendance to fourth place globally in market capitalization is even more shocking considering that for the first twenty years, Amazon ran at a loss, although with such large, and exponentially growing, revenue and market share that investors continued to believe in its sustainability and continued growth, even before two consecutive profitable years sent its stock into the stratosphere, wish share prices reaching an intraday high over $1000 today.

    Is there any reason to believe tech stocks will continue to grow? Are silicon chips the new blue chips, or are we headed for a new dot-com bubble? Or perhaps neither in particular, just a continued reign at the top, without too much additional return for investors just buying in now?

    At least for now, signs point against a bubble. While 1999’s dot-com stocks were fueled by speculation, to the point that nearly any NASDAQ IPO with “.com” in its name would be guaranteed quick returns, this year’s tech titans are all established corporations, with Facebook being the newest addition, traded publicly since 2012 (but established in 2004), and Apple and Microsoft, at the other extreme, already 41 years old.

    Growth is, of course, much harder to predict. Conventional wisdom would suggest that, just by cornering market share, the potential for growth is nearly complete. Apple and Microsoft together provide operating systems for over 97% of computers; Apple and Google account for 99% of smartphones, through iOS and Android. Google and Microsoft (Bing) combine for over 90% of the search engine market, and Google and Facebook together add up to 83% of the web’s display advertising market.

    Amazon has one of the few sectors with room for growth; despite their titanic revenue stream, and already massive logistics network, only 41% of online shopping in the US takes place through Amazon.com; both new and established retailers might eventually be under economic pressure to integrate with Amazon, both for readier access to consumers as Amazon becomes an A-to-Z one-stop shop for just about everything that can be bought, and to take advantage of the servers and logistical advantages a company the size of Amazon could provide.

    Every bull needs a bear, though, and there is just as much of a downward pressure toward Amazon: their business model has previously relied on undercutting smaller retailers on price, which does necessarily limit profitability. However, market saturation hasn’t been an obstacle for any of the other four tech winners, so there’s no reason to think Amazon would be held to a different standard.

    Whichever of these stocks you choose to invest in, if any, it’s important to realize that the largest-cap stocks have changed, and there are more options out there than just the Dow 30. michael kors handtasche michael kors handtasche michael kors handtasche

    Help! I Got An Extra Tax Refund!

    Written by Finance Video. Posted in Uncategorized

    So you haven’t even filed your taxes yet and you got a refund from the IRS. Free money, right? Not to mention the time you just saved gathering all the paperwork, going to your financial advisor or accountant, and filing your 1040.

    Unfortunately, nothing with the IRS is ever that easy. It may be an actual government error (in which case you are liable for the money if and when the correction shows up), or you may have just become an unwitting participant in the latest tax scam.

    In this particular fraud, all the scammer needs is your name, address, and optionally social security number, to file a federal tax return on your behalf, with a hefty refund. Of course, the deception doesn’t end there. All the fraudster will have done so far is get a check sent to you.

    This is where things get interesting. The scammer needs to find a way to get your money — and it is your money, the IRS won’t take the hit — once you have the check. They will often do this with increasingly threatening letters and phone calls, sometimes acting as (fake) representatives of the IRS, and sometimes posing as lawyers or law enforcement, to get you to surrender some or all of your “refund” to the scammer.

    In one case, the perpetrators even acted as pretend financial advisors, “helping” people through the situation and “filing” honest returns for a percentage of the extra refund. In this particular case, the new returns created more havoc, causing the IRS to collect back the false refunds, and leaving the victims owing more than ever.

    So what should you do if this happens to you? First and foremost, DO NOT CASH THE CHECK! Instead, void the check and send it back to the IRS. If it shows up in your bank account by direct deposit, tell your bank it is an error. Then, consult with a trusted financial adviser to maximize your real tax refund. It might take a bit longer, and the check might not be quite as spectacular, but this way you can rest assured your refund money is actually yours to spend! canada goose kinder canada goose kinder canada goose kinder

    How an IPO Company Can Expand Their Business

    Written by Finance Video. Posted in Uncategorized

    ipo companyAt a time when the emergence of new and innovative companies is back on the rise after the recent financial crisis, these young businesses must compete in a flooded marketplace. Besides creating interesting and original products and services, having the ability to grow is one of the most effective methods for gaining an advantage over competition.

    In order to thrive, one of the most effective methods is to use an initial public offering (IPO). The term initial public offering began to slip into everyday speech as of the booming stock market of the late 1990s, when the sale of stocks and shares were flowing like water. In an IPO filing, a company will sell off a small portion of their company at a lower than average price in order for buyers to invest in their business.

    The majority of people who take advantage of these early sales of stock are involved in a hedge fund or investment bank. By using hedge fund prime brokers to coordinate the transaction, the buyers will accumulate as much stock as they believe will be the most profitable without putting too much stake in the IPO company.

    These institutional investors benefit from buying large quantities of stock from these IPOs by gaining more value on their shares as the IPO company generates more revenue and increases its net worth. The companies executing the IPO benefit from these investment banks by receiving up to triple-digit gains just on the first day of trading. All of these funds can then be used to expand the company to a point that will substantially improve productivity and reach.

    One of the major tricks involved in an IPO, is knowing when you are more likely to receive the most interest from investors. As a general rule, when a market is doing well, companies with products or services pertaining to the market will have a successful IPO as well. For example, if SandP 500 is projected to go up double digits in the next year, any corresponding IPOs will likely be up and may even out perform that benchmark.

    To find success in an exceedingly competitive marketplace, an IPO company can generate a lot of capital from investors. The trick will be knowing when to do so. michael kors handtasche sale michael kors handtasche sale michael kors handtasche sale

    Breaking Down Prime Brokers: 3 Aspects

    Written by Finance Video. Posted in Uncategorized

    prime brokersPrime brokers are the primary individuals utilized by prime brokerage firms to coordinate and make sales and trades with hedge funds. The everyday person can use prime brokers as a way to invest money in the dynamic and exciting world of stocks, bonds, and other securities. According to a Bankrate.com survey, over half (52%) of Americans do not have any money invested in the stock market. That’s not just the purchase of regular stocks, but includes mutual funds, 401k accounts, and IRAs. Lack of investing knowledge was cited by 21% of people as the reason they don’t own stocks. Here are three of the ways prime brokerage services function to help you understand and potentially use their services in the future.

    1.) Bonds:
    Bonds are probably the most prevalent things brokers buy by volume. In fact, the U.S. bond market alone is worth in excess of $34 trillion! They don’t always buy them, though. Sometimes brokers will borrow bonds, known as “securities lending.” Overall, it is a large, liquid, and at times volatile market in the United States. The corporate bond market alone is estimated to trade about $16 billion worth daily.

    2.) Shorts:
    Short selling is essentially the opposite of buying a stock. When you buy a stock you’re buying a piece of the company, thus making a bet that they will succeed and continue to grow. When you decide to sell a stock short you’re making a bet that the price of the stock will fall. Short selling is seen by many as a way to combat market bubbles before they “pop.”

    3.) Middleman:
    The prime broker is the middleman between hedge funds and institutional investors, or commercial banks. The investors/banks provide the capitol or assets and the hedge funds participate in security lending and margin financing. Obviously this is a drastic oversimplification, so if you’re interested in more specific details talk to your financial adviser or find some classes in securities finances! cgparka cgparka cgparka

    Top Facts You Need to Know About the Importance of Financial Planning

    Written by Finance Video. Posted in Uncategorized

    Stock market investing guide

    Though you have probably been told this for most of your life, it is important to remember to put money aside when you can. Not only can it be useful in the case of an unexpected emergency, but saving early can be a huge help to you when you retire. Whether you have seen personal finance videos recently that have spoken about how to invest in the stock market online or you have read articles on saving money, you might find that the best corse of action is to hire a financial planner to help you. Here are a few important facts that you need to know about the importance of financial planning before you spend more time watching personal finance videos.

    Did you know that according to StatisticBrain, an estimated 40 percent of adults living and working in the United States are not saving for retir