Incorporating a small business may provide better legal protection with regards to personal liability, when compared to owning and operating a sole-proprietorship or partnership. Incorporating your small business will provide you protection with regards to your personal assets (home, personal property, etc.,). You do not need to be a large company to incorporate a business and you may be a small business or even self-employed. Additionally, one can incorporate a small business and may elect to be an S-Corp with regards to federal tax reporting and filing, in order to benefit from lower personal income taxes and lower or no self-employment taxes (if one is self-employed) depending upon how one chooses to report and file their federal income taxes. For specific issues with regards to tax compliance, reporting, tax filing and business structuring issues, we recommend you contact a professional tax consultant in your jurisdiction.
Article Comparison: Incorporation or LLC? C-Corp or S-Corp? Sole-Proprietorship or Partnership?
|
Business Services » Business Incorporation Services, Incorporate a Small Business, C-Corp, S-Corp Filings, Company Formation
