San Antonio Legal Advice

Should You Form an S-Corporation to Save on Income Taxes?

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If you are operating a business, Tummel and Casso should be consulted to help determine the right structure for your entity.  While some operate as sole proprietors and the business thus has no separate legal identity, many entrepreneurs and self-employed individuals can benefit greatly from forming an S-corporation. 

An S-corporation allows for small business owners to achieve certain protections from liability and can limit personal responsibility for business debts. Since the business is a separate legal entity, the business is distinct from the individual who owns it.  An S-corporation can also help a small business owner to achieve tax savings.

Is Forming an S-Corporation the Right Step to Take?

S-corporations, unlike C-corporations, allow for pass-through taxation. This means that income and losses from the S-corporation can be claimed on the individual business owner’s tax returns.  An S-corporation thus allows for business owners to avoid the potential double taxation that can go along with forming a C-corp (since the business pays taxes on a C-corp’s profits, and the owners also pay taxes when dividends are issued).

Although income and losses pass through to individual business owners, an s-corporation can still allow for significant tax savings by reducing the amount an individual owner is required to pay in payroll taxes.   Payroll taxes include payments to Medicare and payments to Social Security.  The self-employed pay out 15 percent in payroll taxes since no portion of their taxes are covered by a separate employer as they are for those who earn traditional W-2 wages.

When you form an s-corporation, however, you can pay yourself a salary that is equal to just a portion of the money the S-corporation makes. You can use the remainder of the money to pay out to yourself in periodic distributions.   This allows you to avoid paying payroll taxes on a portion of the money earned that is distributed in distributions.

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Tummel and Casso

Personal injury lawyers

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Distracted driving has become one of the top causes of auto accidents, with so many people on cell phones today who either talk or send texts behind the wheel.  Using the phone in the car, getting involved in conversations with passengers, eating, grooming and even having a pet in the car with you have all been demonstrated to be risky behaviors that can increase your accident risk.

Now, however, one study suggests that there may be some good news when it comes to distracted driving: listening to music in the car might be OK. In fact, one recent study indicated that listening to music might even improve your reaction time under some circumstances. Our lawyers know that every driver is different in terms of what takes his focus off the roads. Still, the new study suggests that you might be safe to at least listen to your favorite tunes while you travel.

Music May Not be a Dangerous Distraction

The new study that assessed the impact of music on driving ability was conducted by Dutch researchers and reported on by US News & World Report.  The study involved 47 students between the ages of 19 and 25. The students in the study had, on average, more than two-and-a-half years of driving experience.
The study participants were asked to create a playlist to listen to while they drove. The playlist was supposed to contain music that the drivers were familiar with and that they enjoyed listening to. The drivers then completed a simulated driving course several times while they were listening to the music at various volumes. They took the course with the music off, with the music at intermediate volumes, and with the music turned up loud. The drivers were not able to adjust the volume of the music as they were driving the course, which took about half an hour to complete.  The simulated driving experience mimicked normal driving on a road with two-way traffic, much like the type of driving people might do on their way to work.
The participants were closely monitored as they drove the course and questioned about their experiences. The outcome of the study showed that the music did not have an adverse impact on their ability to drive or focus. In fact, the opposite may have been true. Drivers who had the music on were faster at responding to what the car in front was doing than drivers who did not have the music playing.

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Distracted Driving

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Distracted driving is incredibly dangerous behavior, and more states than ever before are taking steps to try to reduce the number of people on the roads who are distracted by cell phones and electronic devices.  In fact, the Governors’ Highway Safety Association (GHSA) released a report entitled “2013 Distracted Driving: Survey of the States” indicating that there has been a 45-percent increase in the number of states with texting bans in place for all drivers as compared with just three years ago.

Florida became one of the states with a texting law this year when Governor Scott signed a texting ban into law after five years of attempts to get such a law passed.   Florida’s ban is relatively weak, allowing for drivers to text when stopped in traffic or at traffic lights and making texting a secondary offense with a fine of only $30 plus court costs for a first-time offender.   Still, the fact that texting is now illegal means that those injured in a texting accident may have an easier time of recovering compensation with the help of an auto accident lawyer in West Palm Beach since negligence per se rules allow victims to prove negligence by pointing to a law that the other driver broke.

While the law may help accident victims to recover compensation, however, it may be difficult for police to enforce. In fact, as the Huffington Post recently reported, texting laws in general are difficult to enforce, even in states that have taken a very tough stance on fighting distracted drivers.  The difficulty of enforcing these laws means that many people continue to text even though it is illegal.

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Texting

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If you were injured in an car or truck accident or personal injury, our attorneys in Louisville KY may be able to help. Call our firm today at

for a free consultation with a Louisville attorney. Distracted driving is extremely hazardous for other drivers on the road. Such as an a person driving with a cell phone on is statistically has a risk of crash as greater then 22 times the risk of a person who is focused on driving while driving. Despite the known risks of reckless driving, many motorists continue to make dangerous choices behind the wheel by focusing on things other than the road.

Our law firm know there are many causes of accidents. Distracted driving is a problem for drivers of all experience, and it is becoming a bigger challenge as more people use cellphones and new technologies. Many efforts have been made to combat this problem throughout the United States, and WDRB.com reports that the Kentucky Transportation Cabinet has now launched an initiative to teach residents about distracted driving dangers.

There are unsafe motorists who are making KY’s roads more risky to drive on. Fortunately, Kentucky Transportation Cabinet officials aren’t standing by. One remarkable thing our officials are doing is taking a distracted driving simulator, the D2, on tour so people can better understand the danger. Drivers who text may cause rear-end accidents. They may stray from their lane and cause pedestrian and bicycle accidents including hitting a runner on the side of the ride.

Accidents may result in injuries:

• Broken bones
• Spinal cord injury
• Head injury
• Injury to the extremities
• Paralysis
• Amputation

If you have been injured in an accident caused by a texting driver, then you need to take action. Maybe you need to talk with a law firm who will look out for your best interests. You need an attorney working just for you, not an insurance company or someone else who might have a conflicting agenda. You need someone who will fight for your rights and make sure you get the compensation you rightfully deserve. You need an experienced lawyer.

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Texting While Driving

Your accident might seem easy to understand. You might think you dont even need a lawyer. Dont be so sure. The other driver may have caused the accident but does not guarantee you will be treated fairly after your accident. Insurance companies may act like they are your friends. In reality, most insurance companies are focused on one thing: paying people as little as possible after an accident.

People may fail to consider the true cost of an accident. Beyond the cost of repairing the vehicle, there are medical expenses, lost income if you cannot work, physical therapy and pain often for months after an accident. Someone else caused your accident. You should not have to pay for someone elses mistake. At Coplan & Crane, we can work with you and help you obtain the compensation you rightfully deserve. Be aware that property damage accidents cost Illinois drivers an estimated $9,000 each in 2011. That might not seem like a lot of money. But we realize that for many people, spending $9,000 on an auto accident can result in financial ruin and cost far more for many years to come.

Serious injuries demand serious action. At our firm, we work tirelessly for people who have sustained injuries in car wrecks throughout Illinois. Our case results speak for themselves. We have a track record showing our experience obtaining large, multi-million-dollar settlements and verdicts.

We We are experienced at handling insurance companies. We know how to research for car wrecks. We know what information to look for based on years of successfully representing truckaccident victims. We leave no stone unturned including poring over police reports or medical records. Injured, contact a www.coplancrane.com.

Dealing with insurance adjusters can be especially frustrating. Their questions might seem innocent. But often, such questions are designed to reduce the amount of money insurance companies pay after an accident.

You are not required to give an oral statement to the other sides insurance adjuster. Listen to what they say and note the questions he asks, but do not enter into a dialogue with him. You need to tell your lawyer what was said. Have your lawyer evaluate your case.

At our firm, we we have experience helping clients deal with the other drivers insurance company. We can deal directly with insurance adjusters. We know how to get you the compensation you rightfully deserve under the law. Our dedicated lawyers enjoy helping people throughout Illinois.

Insurance companies dont intimidate us. We can put our knowledge and resources to work for you. Call (800) 394-6002 or (708) 358-8080 and schedule your free case consultation.

Personal injury lawyers