If you are looking to start a business, choosing a legal business structure is a must. Incorporating is the process of legally declaring a corporate entity as separate from its owners, and is one of the best ways a business owner can protect his or her personal assets. When you incorporate your business, it becomes its own legal structure, separate from its owners.
Most people choose to incorporate solely for this reason, but there are other advantages as well. For example, the corporate business structure allows you to save money in taxes, provides greater business flexibility, and lets you more easily raise capital. When incorporating, the business structure that you choose will have tax and legal implications; for this reason is it extremely important you choose the business structure that benefits your business the most.
Why Incorporate Your Business?
There are many reasons why you should incorporate your small business, and the benefits and limitations will depend on the legal structure you choose. However, there are some benefits that apply to both Corporations and Limited Liability Companies (LLC):
- Minimize liability: both business corporations and LLCs allow owners to separate and protect their personal assets. If you operate a business as an unincorporated sole proprietorship, your ownership in the business means you’re liable for all of the business’ debt.
- Perpetual existence: in a partnership or sole proprietorship, a company’s life is tied to the life and participation of the owner(s). Corporations and LLCs can continue to exist if the ownership or management changes.
- Tax Flexibility: incorporation can save business owners federal and state income taxes as well as federal payroll taxes. C corporations can provide their employees, including shareholder-employees, with rich, tax-free fringe benefits. S corporations allow shareholders to avoid the corporate income tax on business profits and may even allow shareholder-employees to reduce the payroll taxes (Social Security and Medicare taxes).
- Deductible Expenses: by incorporating your business, you may deduct regular business expenses, such as employee salaries, before they allocate income to owners.
Choosing a business structure is an important step when starting a business. As a business owner you must carefully consider the options available to you, as well as the benefits and implications of incorporating your small business. At BizCentral USA we can assist you with this process, and help determine what structure is best for you!
What Do We Offer?
At BizCentral USA, our qualified professions have extensive experience drafting articles of incorporation. They will assist you with any questions or concerns you may have and help you determine what legal structure is best for you. If you are unsure what legal structure to choose, or are wondering what the best option is – Incorporation vs LLC – our service consultants will be happy to assist you.
Best of all, our rates are very competitive and we offer flexible payment methods as well as annual plans. Some key benefits of using us:
- Affordable Pricing: our services are priced for your small business budget while still including all necessary items plus additional services to supplement your accounting.
- Professional Quality: We pride ourselves on the professional grade quality work completed by qualified accountants and bookkeepers, and we guarantee 100% satisfaction.
- Full-Service Options: We do all our services in house, providing our customers with consistent professional service, quality, and quick turnaround.
- Streamlined Process: We prepare your project in a timely manner.
- Complementing Services: We offer a variety of accounting services, including payroll, bookkeeping, tax preparation, tax planning consultation and more all for an affordable price!
- Experienced Staff: We have gained an exceptional amount of experience due to our low-prices.
- Long-Term Relationship: Because we offer many services, our goal is to WIN our clients with great pricing and fanatical customer service to enable a long-term relationship.