Profit Corporations: Advantages & Disadvantages

Incorporating a new business is a very smart idea. There are numerous benefits to be realized when taking your small business to the next level with incorporation.

The most obvious and biggest benefit to incorporating your Georgia business is the reduced liability of company shareholders. Forming a company creates an entirely different “entity” in the tax system. The company incurs it’s own liabilities, the owners of the company don’t risk their own assets going into business. There are special cases where personal assets can be taken.

Peace of mind. With most legal worries out of the way, you can focus on growing your business and making it profitable and successful.

Tax Advantages. Incorporating puts you on the track for higher tax deductions for your Georgia business, employees of your business,  and possibly for family members of the owners of your business.

Incorporating can deliver some tax-deductible benefits. Some people don’t realize that if you are the only employee shareholder of your Georgia business you can still deduct portions of health and life insurance, travel and even some entertainment expenses during your travel.

Incorporating may also eliminate self-employment taxes and lower your payments for social security tax and Medicare tax. Usually corporations provide a tax shelter for qualified pension or retirement plans. Your indiv. tax liability at the end of the year may be reduced somewhat as you will becom an employee of your own corporation.

Easier to get approved for loans & additional capital. It’s difficult as a single owner running a sole proprietor business or a partnership business. to get extra money necessary for expanding their business. Corporations can readily raise capital by issuing more shares of stock. Investors int he company purchase shares of stock in the company -essentially providing funding.

It’s easy to transfer ownership of  a corporation through the use of stock. Corporations usually have a perpetual life as well, distinct from that of the shareholders.

These are just some of the many advantages to incorporating your Georgia business. There are literally hundreds more. Think about the immediately respect you get when you tell others you own a company. When you tell other companies you’re in the same industry and can help each other – you’re in a better position to gain their immediate respect because you incorporated.

Biggest benefit to incorporation? Peace of mind. You’re safer and much better prepared for doing business in Georgia. Get incorporated today.

**********

Call Toll Free: 888-905-7380
Email: Flincorporation@gmail.com
Question or Comment? Support Form