October 24, 2017

Benefits of Incorporating

A business with any significant risk should incorporate. Incorporating separates a business and its owners as two legal distinct groups. In many ways, an incorporated business is like a child becoming an adult. The business has its own life. It can have its own assets and debts and has its own rights. It can be guided by rules the owner sets up and be responsible for its own conduct if it does not abide by them. It increases credibility and it’s often makes it easier to raise capital. Owners also benefit through asset protection, privacy, confidentiality, and the potential of tax savings. We’ve seen the complications and frustration people have faced by using off the shelf corporation setups, as they find themselves spending lots of time, energy, and money cleaning up a mess after the fact. Understanding the businesses’ purpose and its owner’s desires is the right way to incorporate. By investing in a proper setup, businesses have the foundation to run smoother and more profitable in the long run. Our attorneys know how to help.