| Incorporating your small business may be the smartest | | | | audited far less than sole proprietors, particularly if you |
| thing you ever do. There are several reasons why you | | | | run your business out of your home. |
| should consider incorporating. | | | | A corporate structure can also provide you some |
| First, by incorporating your business you reduce your | | | | privacy. Shareholders can remain anonymous and you |
| overall liability. With a corporation you can enter into | | | | can structure your corporation in such a way that your |
| lease agreements, borrow money and purchase | | | | name is absent from all public records. This is a very |
| goods and services on credit. When you sign on the | | | | powerful strategy as it shields your name from shady |
| dotted line, the corporation, not you personally, is liable | | | | lawyers seeking a well to tap for their greedy and |
| and accountable for any agreements entered into | | | | unscrupulous searches for lawsuit targets. |
| under the corporate name. | | | | Incorporating also gives the appearance that your |
| Also, in our litigious society you are shielded from | | | | business is larger. This could be beneficial if you seek |
| personal loss should the business be sued. Why run | | | | investors or partners for a joint venture. Even potential |
| the risk of being a target with your deep pockets | | | | customers will be impressed by the appearance of |
| when you can transfer wealth to the corporation and | | | | stability and security that an incorporated business |
| protect your family from large losses due to a | | | | offers. |
| judgment or twelve jurors with a chip on their | | | | Finally, a very powerful business strategy that is |
| shoulders? | | | | gaining in popularity is the easy transfer of title and |
| Of course, one of the most popular reasons for | | | | property through the corporation. You can hold real |
| incorporating is to take advantage of tax deductions | | | | estate, automobiles, stock or other assets in the name |
| not available to sole proprietors and individual | | | | of a corporation and still control them. This allows you |
| taxpayers. By incorporating, you can write off travel | | | | privacy, protection and versatility. |
| expenses, start up and operational costs of doing | | | | The corporation is the perfect tool for the |
| business, certain types of salaries and employee | | | | entrepreneur who seeks more control, greater wealth |
| compensation, insurance costs, and even vehicle | | | | flexibility and more security from the taxman's hand |
| expenses, leases and mileage. | | | | and the lawsuit happy gold digger. It's a strategy worth |
| Speaking of taxes, if you've ever been audited then | | | | considering. |
| you know what a nightmare it is. Incorporations are | | | | |