Incorporating Your Business
Why incorporate?
Business owners form corporations to safeguard their personal assets from business debts and liabilities. A properly formed and managed corporation can give you the freedom to conduct your business without worrying that you might lose a home, a car, or any of your personal savings because of a business obligation.
Often times starting a business or choosing an
investment vehicle can be a confusing task. Incorporating your business or
investment can be the best choice you make in determining your financial
success. The many benefits of incorporation make it a mandatory first step!
One primary benefit is LIMITED LIABILITY. If you maintain
the corporation's legal status properly, and avoid personally guaranteeing
the corporation's obligations, your corporation, and not you, would be
solely responsible for its own obligations.
The single most important reason people use the corporate form of doing
business is to safeguard the personal assets of the owners -- the
shareholders (or stockholders) of the corporation -- against potential
claims of creditors. Sole proprietors and general partners in a partnership
are personally liable for all debts and obligations of the business, such as
loans, accounts payable, and defective products. Stockholders typically are
not liable for ordinary debts and obligations.
Other potential benefits of incorporating (even for one-person operations):
Corporate identity: the sense of image, stability,
sophistication, credibility, and permanence results from incorporating, no
matter if you start with one person or several.
Raising capital: you have an inherently enhanced
ability to acquire capital. A Corporation gives a potential creditor the
impression that you are a knowledgeable professional, and this gives the
creditor a whole new outlook on your business.
Continuous life: a corporation can survive its
founders, provided it complies with ongoing state and federal paperwork and
pays the annual filing fees.
Tax Savings: corporations are taxed at a lower
rate than individuals. Also, they can own shares in another corporation and
receive corporate dividends 80% tax-free.
Types of Corporations
We take pride in offering complete customer support for our corporate entity setups. We make sure you know what's best for your scenario. Here are your corporation choices:
- Limited Liability Company
- Limited Partnerships
- S-Corporation
- C-Corporation
- Nevada Corporations
See the advantages of setting up a Nevada corporation.
Call us today and let us take your business to the next level!