Whether you’re just considering a new business idea or already act as a sole proprietorship, incorporating a business is a good decision.
There are several benefits to incorporating your business, all of which you should fully understand before you decide what’s best for your business. Following are some of the must relevant benefits of incorporating your business.
- Asset Protection Through Limited Liability
- Creation of Corporate Identity
- Perpetual Life for the Business
- Transferability of Ownership
- Ability to Build Credit and Raise Capital
- Optimizing Your Income and Taxes
- Retirement funds and qualified plans, like a 401(k)