Starting a new business is an exciting, rewarding, and somewhat stressful endeavor. There’s a long list of decisions to be made early on, but selecting the right business structure is one of the most important. The type of business entity you choose can impact everything from establishing owner compensation to how much you’ll pay in taxes.
There are several benefits to be achieved by incorporating your business.
- By incorporating, you can protect yourself and your partners from a great deal of personal liability and create a separate business entity.
- Corporate names are protected to a greater extent than sole proprietorship and partnership business names.
- After you incorporate, your business can issue shares and may attract investors more easily.
- Consumers and investors often view an incorporated company as more credible.
- Corporations have access to a variety of tax benefits.
- And More