It’s 2017 you’ve been writing your resolutions: eating healthy (ish), working out more, shopping less and being your boss. Aside from the first three, we can help you with creating your own business and becoming your boss.
After working hard developing a business plan and a marketing strategy for your idea, it’s time to consider incorporating. It’s the beginning of a new year, and this is an excellent resolution (one that you won’t drop middle January!)
Incorporation isn’t as difficult as most people think, you need to answer a few questions and tell us about your business. We can do the rest! That means we’ll check to make sure your business name is available, file all your paperwork, store your documents online, and make sure you get all the legal help you need.
Pick your business type, use our business structure comparison tool, and make sure you are choosing the type of company is right for you and your business.
Benefits to incorporate
Did you know that once you incorporate, you can obtain loans from banks and lenders much more easily than if you weren’t incorporated? What does this mean for your business? It means that your business can set itself up for success and have more capital to grow. That extra padding of funds can help you hire the right employees and remain competitive in your industry.
Tax benefits: you can lower your overall taxable income. Did you know that when you incorporate, you can carry your losses forward year after year for up to seven years in most states? That means you have the potential to lower your taxable income the following year if you had a loss in the previous year.
Protect yourself: owners are protected from personal liability from company debts and contractual obligations.
Unlimited life: Corporations have unlimited life unless they merge with a different company, go bankrupt or achieve its objectives. So your business would go on without depending on an individual.
You can transfer your shares: It is always nice to know that the ownership interest you have in a business can be readily sold, transferred, or given away to another family member.