by Jacques Luben, Editor
Inc. Plan Business Review
The most critical benefits of incorporating are the ability to:
Establish a coporate identity, Protect a corporate identity, Take advantage of tax savings: The ‘S’ Corporation, Establish a coporate identity, The limited liability
ESTABLISH A CORPORATE IDENTITY
Incorporating your business means you are serious about the business you are doing. It adds substance to your product, service or venture. It communicates stability, authority and professionalism, and a permanence that goes beyond any single person. Your business, instead of being a one-person operation, becomes an established entity.
PROTECT YOUR PERSONAL ASSETS
By incorporating your business, you will isolate your personal assets from those of your company. The Corporation (or Limited Liability Company) helps shield your home, private bank accounts, cars, retirement savings, etc. – from the ongoing threat of business related lawsuits.
TAKE ADVANTAGE OF TAX SAVINGS: The ‘S’ Corporation
Many tax savings can result from the formation of a corporation. Legitimate business expenses related to health insurance, rent on a home office, travel/entertainment, office equipment expenses, etc…can significantly reduce the business owner’s tax bill.
Avoid double taxation by incorporating your business venture. One of the most useful steps the owner of a small business can take is to establish a Subchapter S corporation. By doing this he/she can avoid the double taxation that occurs when corporate income is subjected first to federal income tax, and taxed again as personal income when it is returned to shareholders in the form of dividends.
Inc Plan (USA) will be glad to incorporate you in any state. We will provide you with an incorporation package that is superior, both in cost and features, to any other incorporation service.
ESTABLISH A CORPORATE IDENTITY
Incorporating your business means you are serious about the business you are doing. It adds substance to your product, service or venture. It communicates stability, authority and professionalism, and a permanence that goes beyond any single person. Your business, instead of being a one-person operation, becomes an established entity.
The LIMITED LIABILITY COMPANY (see LLC information)
In recent years there has been a surge of interest in this type of legal business structure because of the flexibility and multiple tax benefits that flow from the LLC setup. Real Estate owners often prefer to form Limited Liability Companies because they can simultaneously enjoy the tax benefits of a traditional Partnership along with the strong legal protections of a corporation.
CREATE YOUR CORPORATION OR LLC
Every new business is different and requires special attention.
In forming new companies, our mission is to help you meet these basic goals:
- Efficient registration of corporations and LLCs in all 50 states and D.C.
- Low fees and helpful service
- Legal protection against costly law suits
- Reduced tax burden for the business owner.
Since 1990, Inc. Plan (USA) has helped thousands of entrepreneurs form their new companies throughout the U.S. and overseas. In recent years, over 40% of our new accounts have been referred by satisfied customers of our firm.
