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Reasons for Incorporating Your Business

Part of the Incorporating Your Business For Dummies Cheat Sheet

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.

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