All legal and tax professionals agree, if your business is not incorporated you may be throwing away thousands of
dollars in tax savings and deductions. In addition, all of your personal assets such as your home, cars, boats, savings,
and investments are at risk and could be used to satisfy any law suits, debt or liability incurred by the business.
Forming a Corporation can provide the protection and tax savings needed to give
you peace of mind and make your business even more successful and profitable.
Some Benefits include:
Protection: Properly forming and maintaining a corporation will provide personal liability protection to the owners or
shareholders of the corporation for any debt or liability incurred by the business. Personal liability of the shareholders
is normally limited to the amount of money invested in the corporation.
Tax Advantages: Another important benefit is that a corporation can be structured many ways to provide substantial
tax savings. You can minimize self-employment taxes and increase the number of allowable deductions lowering the taxes
you pay on the income of the business. Many corporations structure retirement and tax deferred savings plans for their owners
and employees which can provide even greater tax savings.
Raising Capital: Sale of stock for the purposes of raising capital is often more attractive to investors than
other forms of equity sales. A corporation can also issue Corporate Bonds to raise capital for expenditures without compromising
the ownership of the business.
As a corporation, your business will enjoy legitimacy and greater credibility when dealing with other companies, banks and