You can separate your personal liability and protect your personal assets from that of the business just by incorporating. It is possible to build a business credit profile for a sole proprietorship or partnership, however you are still responsible for all the debts of the company. We recommend building your business credit as a corporation or limited liability company.
Other advantages of a corporation are:
- Separates you from your business
- Limited liability of the owners and officers
- Lower tax liability
- 100% tax deductible insurance
- Reimburse 100% of medical expenses
- Corporate image
- Raise capital and build credit faster
- Lower your audit risk as a small corporation
- Stock ownership - easier to transfer assets
- Protect Your Personal Assets
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