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Скачать или смотреть How to Incorporate Your Business (Step-by-Step Guide)

  • Business Lawyer For Entrepreneurs
  • 2016-02-01
  • 860
How to Incorporate Your Business (Step-by-Step Guide)
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Описание к видео How to Incorporate Your Business (Step-by-Step Guide)

Are you thinking of starting a business but don't know where to start?

There are many benefits to incorporating your business.

1. Forming a corporation or LLC helps protect your personal assets from liability for your business’s debts and obligations. All owners are protected from personal liability for business debts and claims.

This means that if the business itself can't pay a creditor -- such as a supplier, a lender, or a landlord -- the creditor cannot legally come after an LLC member's house, car, or other personal possessions. Because only entity assets are used to pay off business debts, the owners stand to lose only the money that they've invested in the entity.

Also, incorporating your business helps to protect you personally if a business partner or employee is accused of wrongdoing.

2. By choosing the correct entity for your specific business, you can essentially minimize taxes through the elimination of double taxation.

An LLC is a pass-through tax entity which means that the profits and losses of the business pass through to its owners, who report them on their personal tax returns just as they would if they owned a partnership or sole proprietorship.

There are several different ways you can incorporate. One option that is available to a business owner is using an attorney that specializes in incorporating businesses.

Another option that some business owners consider when deciding to incorporate is to do the paperwork themselves. Obviously, costs with incorporating yourself are significantly less - but there is much more legwork that must go into the process.

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DISCLAIMER: This video and content is for general information only. The information presented should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Nothing herein is intended to nor constitutes a guarantee, warranty or prediction regarding the outcome of your legal matter. This description may contain affiliate links. If you purchase a product through one of them, I will receive a commission (at no additional cost to you). I only ever endorse products that I have personally used and benefited from personally.

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