Reasons for Incorporating Your Business
Deciding to incorporate your business, or not, can be nerve-wracking. Even if you've done your research and understand what it means to incorporate your business, you may still be unsure about moving forward. Take a look at these reasons to see if you're ready to take your business to the corporate level:
You want to protect your company name.
You want greater protection of your personal assets.
You have been told by your financial advisor that your business is no longer a hobby.
You're just starting up.
You want to open a company bank account.
You have a "great" idea.
You hire employees.
You want to take tax deductions on medical, life, and disability insurance you provide for yourself and your employees.
You plan to go public.
You're looking for investors.
You want to grow your company.
You want to impress your friends and business associates by adding "Inc." to the end of your company name.
You're running a home-based business.
You want your business to continue operating after your or a partner's death.
You want to raise capital through the sale of stock.
You plan to open another business.
You plan to expand your business to another state.