If You’re Unsure Whether to Incorporate Your Small Business or Not, This Blog Article Should Clear Away the Confusion for You.

By Aaron Grinhaus – Grinhaus Law Firm

The incorporation of a business is a big step for many business owners. The process should be fully understood and considered by any responsible business owner before acting and making the decision to incorporate. However, this decision is not one that must, or even should, be made alone. A business attorney with education and experience in cases similar to yours should be consulted during consideration. Incorporation may be a big step, but if done correctly, it offers great advantages for responsible business owners.

Here are the top 3 reasons to incorporate your business:

1. Incorporation can protect you personally from liabilities such as those from lawsuits, debts, or other obligations. Those looking to collect on an obligation from an incorporated company can often go no further than the company itself for collection purposes. However, this liability protection does have limits particular to individual scenarios and the type of incorporation your company has undergone.
2. Incorporation helps a company to grow more easily and indefinitely. Directly, incorporated companies often have an easier time obtaining capital, which may come through securities or stock exchange. Also, when the owner of an incorporated company passes away, that company maintains its legal standing. Indirectly, an incorporated company conveys a sense of professionalism and confidence that is attractive to employees, clients, and investors alike.
3. Incorporation may also come with a certain amount of tax relief. This is especially true with such issues as insurance and self-employment tax breaks – incorporated companies may come out ahead. Talking to a business attorney is the first real step in understanding more about how incorporation may bring benefits of all sorts to your company.

Behind this article is Aaron Grinhaus, Founder and Principle Lawyer at Grinhaus Law. Grinhaus focuses on commercial transactions, corporate restructuring and reorganization, professional medical corporations, estate and tax planning, as well as trusts and asset protection and securitization.

Here at NumbersWise, we are proud to use Grinhaus Law for all of our legal needs. This allows us to continue to deliver unrivaled outsourced bookkeeping, office administration, and business organization to IT service providers across North America. With over 20 years of experience in the tech and cloud space, we can provide your company with financial leadership and proactive solutions for success. Interested in learning more? 

Note: This article was originally published HERE.