Incorporation

Benefits of Incorporating

The decision to Incorporate your business is usually made when the benefits of Incorporating outweigh the relatively minor costs and administrative hurdles of setting up and running the corporation.

Incorporate your business for:

  • Liability Protection
  • Tax Savings
  • Business Credibility
  • Ease of Raising Capital
  • Prestige for the Corporate Officers
  • Perpetual Duration
  • Simple Transfer of Ownership
  • Centralized Management
  • Privacy (The “Corporate Veil”)
How Can Your Business Structure Affect You?

Your choice of business structure will, have an impact on these and other aspects of running your business:

  • Who qualifies to own your company
  • Whether you can - and what you must do to - transfer ownership of your company
  • Taxes your company is subject to
  • Your ability to get credit and funding
  • Your personal Liability
  • The number of ongoing compliance requirements you need to satisfy
What Should You Consider When Choosing Your Business Structure?

Some of the factors that will influence which business entity type you select include:

  • Where you plan to conduct your business
  • Wanting to have limited personal liability for your business activities
  • Whether you will have a partner or an investor
  • Your expected earnings and deductions
  • Desire to minimize your self-employment tax obligation
  • Your business goals
  • Your tolerance for compliance formalities
  • Registration and administrative costs to set up and maintain a structure