Advantages Of Sharepartner

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Advantage and disadvantage Most business owners form corporations to protect themselves against financial and legal liabilities. In other words, a corporation keeps your business dealings, assets, and bank accounts separate from your personal assets. Perhaps you already keep personal and business assets separate on a financial level and think incorporating is not worth the hassle. Think again. There are many more reasons why you should incorporate your business, and only a few reasons not to. Let’s look at the disadvantages of incorporation first: * Money: It’s not cheap to incorporate, so if you’re just starting out and cash flow is an issue, know that you’ll be paying for such costs as state filing fees, franchise tax, attorney fees (if you need an attorney), and other government fees. * More paperwork: As a corporation, you’re required to file Articles of Incorporation, bylaws, corporate minutes, certificates of good standing, and other paperwork on a regular basis. * More taxes to file: You’ll need to file a separate tax form and can’t claim any personal tax credits on it. Plus, business losses can only be applied to the business -- they can’t help you on your personal taxes. Most business owners form corporations to protect themselves against financial and legal liabilities. In other words, a corporation keeps your business dealings, assets, and bank accounts separate from your personal assets. Perhaps you already keep personal and business assets separate on a financial level and think incorporating is not worth the hassle. Think again. There are many more reasons why you should incorporate your business, and only a few reasons not to. Let’s look at the disadvantages of incorporation first: * Money: It’s not cheap to incorporate, so if you’re just starting out and cash flow is an issue, know that you’ll be paying for

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