Whether you are an author, run a small mom-and-pop shop, or act as an independent contractor for a larger company, there are many benefits to incorporating as a business entity yourself. Here are some of the main benefits:
TOP 10 BENEFITS OF INCORPORATING
1 – You decrease your personal liability
2 – You can separate and protect your personal assets
3 – You limit your liability on business debts and obligations
4 – It’s easier to raise money for your business
5 – Creates “stock” which can be issued to investors for cash, which is more advantageous to you than seeking a loan from a bank
6 – Corporations are taxed at a lower rate than individuals
7- You can deduct normal business expenses from your taxes
8 – Corporations can deduct 100% of medical insurance premiums
9 – Helps you establish equity in a “brand name” since corporate names must be different in the same industry
10 – Helps establish credibility. Having an “Inc” after your name establishes you as an instant authority
Over the next several days, I am going to incorporate a business and I’ll walk you through the steps of doing it along with me… stay tuned…
President of Outskirts Press 