Should I Incorporate?
“I always hear people say I should incorporate”. What is incorporation? What are the procedures? Why should I incorporate? These are all great questions. Many new business owners do not incorporate their business. Incorporation is a choice. A business does not have to incorporate.
However, incorporation provides many benefits. The main benefit is liability protection against your personal assets, family, house, cars, and bank accounts. Contact an attorney to learn the legal aspects of corporation liability protection. There are different types of entity formations such as, C-corporations, S-corporations, Limited Liability Company (LLC), General Partnerships or Limited Partnerships.
Each type of entity has different tax implications. It can be very confusing and time consuming. At Christian Scott & Associates, we will bring you up to speed and review each type of entity. In addition, we will explain how it is taxed under the law. We make it clear, so you can make an informed decision.