I’m just a small business; do I really need to incorporate?
It doesn’t matter whether you’re a fortune 500 company with thousands of employees or an individual operator of a home based escolhasegura business, Incorporation is the best way to protect yourself and your personal assets from the threat of lawsuits. Incorporation also carries the additional legal advantages of:
1. Reduced Taxes
2. Increased Privacy
3. Reduced Risk of Audit
4. Building Credit
5. Raising Capital
6. Enjoying Corporate Benefits
A corporation is a legal entity empowered by state statute which can be used for the benefit of its shareholders to act as a scapegoat, decoy, servant or friend depending on their needs. An entity you can control without being held liable for its actions.
If you operate a business of any size or are considering starting a business, establishing a corporation can provide a cost effective foundation to reduce your taxable income, protect your personal assets and facilitate estate planning in your best interest.
1. Tax Savings – Properly structured corporations can pay a fraction of what someone would pay in federal taxes on the same personal income and in some cases pay no State taxes. The variety of tax saving strategies that can be obtained through the corporate structure is vast including medical coverage strategies, retirement savings, after tax investments, insurance, travel, entertainment, real estate, recreational vehicles and more.