Incorporation
Do you want to learn more about incorporation? Did you know that you could now incorporate on line in a fraction of the time that it used to take to incorporate? We'll explain the basics of how to incorporate a company to help you decide whether you should take this exciting plunge.
Right now, you can start to make your small business dreams come true by forming a corporation (or, if you prefer, a limited liability company or LLC). Here are some of the benefits of incorporation filing. If you want to form an “S” corporation, for example, you will be at less of a risk to have the IRS audit your tax form submissions. Nobody likes to be audited. Also, you will have some level of liability protection against business debts – something that you won't have without incorporating. Furthermore, you'll be able to use financial losses from your corporation to offset your income from other areas. Finally, you won't have to pay as much in employment taxes because you are taking payment “distributions” under corporate law, instead of a salary.
So what are the disadvantages of forming a corporation? You knew there had to be some, right? Well, first of all, it can be quite costly to create and maintain a corporation as opposed to a sole proprietorship. Also, if you incorporate and gain shareholders, their ability to receive fringe benefits from your gains will be limited.
If you want to incorporate, what are you waiting for? Incorporate online today and get going down the road that leads to the accomplishment of your business goals.
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