Masonry Magazine August 1997 Page. 25

Masonry Magazine August 1997 Page. 25

Masonry Magazine August 1997 Page. 25
Making matters worse, if S corporation status is revoked or terminated, the incorporated masonry contractor may not, without IRS consent, reelect S corporation status until the fifth year after the year in which the termination or revocation became effective. Of course, after last summer's law changes, any termination of a S election in a tax year beginning before January 1, 1997, may be disregarded.

S corporations may presently have only 35 shareholders, increased to a maximum of 75 next year (1997). The restrictions on who may or may not be a shareholder in an S corporation have been relaxed somewhat. Partnerships, nonresident aliens and some tax-exempt organizations are not permitted to be S corporation shareholders. S corporations are also presently prohibited from issuing preferred stock, which prevents them from seeking certain types of non-commercial capital financing.

As signed into law, the bill permits S corporations to own 100 percent of an S corporation subsidiary. The parent and the subsidiary would be treated as a single S corporation. In addition, the rule changes repeal the prohibition on S corporation membership in an affiliated group by allowing S corporations to own up to 100 percent of a regular, 'C' corporation's stock. Scorporations cannot, of course, file tax returns as part of an affiliated group of companies.

The legislation also allows S corporation ownership by as many as 75 shareholders. More types of shareholders, such as employee stock ownership plans (ESOPs), pension plans, charities and even some financial institutions will be eligible. This should substantially increase the financing options available to every masonry contractor operating as an S corporation.

A corporation, by everyone's definition, is a legal entity, separate and distinct from the persons who own it. It is regarded under our laws as an artificial person, able to own property, incur debts, sue or be sued. Its main features include limited liability (generally, owners can lose only what they invest), easy transfer of ownership through the sale of shares of stock and a continuity of existence.

The S corporate status permits every contractor to benefit from the advantages of an incorporated masonry business while, at the same time, receive treatment for tax purposes as if that business entity was a partnership. All deductions and losses are passed along to the shareholder or shareholders to reduce their tax bills. And it will get even better as the new laws begin to take effect.

MASONRY COMPUTER ESTIMATING MADE EASY WITH TRADESMEN'S SOFTWARE
Computer Illiterate? "I'll have you doing take-offs in 15 minutes" Guaranteed!

JUST POINT THE MOUSE ARROW & CLICK! DON'T FALL BEHIND AND LET YOUR MASONRY OPERATION BECOME OBSOLETE-COMPUTERIZE!
• In just 5 seconds you can click and drag Pre-designed Complicated Wall Take-off Assemblies to use in any of your new wall take-offs!
• Switch back & forth from Metric to Imperial at anytime while doing your take-offs or reports. See all of your numbers in either measurement.
• Generate and fax your proposals. 30 day money back guarantee!
• To operate this estimating program you don't need to know anything about a computer or typing! EVER! Very easy to understand and operate!
• Reduce your estimating time by up to 95% and without any mistakes! 1 estimator can do the work of several. Program does the take-off!
• Figure special wall shapes, like Slope, Gable or Step.
• Calculates CMU: Half & Full Bullnose, Double Bullnose, Sash for anv or all Openings, Jambs, Comers or Control Jts. Figures Masonry and Concrete take-offs!
Can Integrate with Project Cost and Digital Plan Measuring Systems.
• Video Demo available upon request. Windows 3.x/95 and NT Compatible

Tradesmen's Software, Inc.
For More Information:
1-800-494 4899

STERLING
The "TOUGH GUY" Brick Barrows
First choice of masonry contractors, STERLING brick barrows are made in the U.S.A. and built to last.

Phone or fax for complete information.
STERLING HANDLING EQUIPMENT INC.
2300 W FLORIST AVE
MILWAUKEE, WI 53209
PHONE 414-228-7728
FAX 414-228-9032
MASONRY-JULY/AUGUST, 1997 25


Masonry Magazine December 2012 Page. 45
December 2012

WORLD OF CONCRETE

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Masonry Magazine December 2012 Page. 46
December 2012

Index to Advertisers

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Masonry Magazine December 2012 Page. 47
December 2012

AMERIMIX
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Masonry Magazine December 2012 Page. 48
December 2012

MASON MIX
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