What are the benefits of incorporating onself?

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What are the benefits of incorporating onself?

What are the tax benefits? Is there legal protection (they sue the company, and not you)? Please be detailed. Thanks!

2006-06-19 08:53:08 · 2 answers · asked by jabbamonkey 2 in Business & Finance ➔ Small Business

2 answers

The biggest benefit, if you follow the rules, is the fact that liability stops with the assets of the corporation. A sole propriator could in theary lose everything they own if found liable. There are some tax benefits, and some negatives. You'd best take the time to visit either a tax attorney or CPA and discuss your situation.

2006-06-19 08:58:12 · answer #1 · answered by Thrasher 5 · 1⤊ 1⤋

lower taxes, do a google search

2006-06-19 09:01:55 · answer #2 · answered by oldbuckhorn 4 · 0⤊ 0⤋