Reasons to Incorporate
Most people think of corporations as very large international companies, but even smaller businesses can incorporate if their owners decide it is best. Incorporating a business is usually not very difficult, and there are many reasons that motivate business owners to take this step. If you are considering making your own company a corporation, you may want to consider some of the advantages discussed below.
Each step of incorporation can be much easier when you have the assistance and advice of an experienced Des Moines business lawyer. For more information, call the offices of LaMarca Law Group, P.C. at (877) 327-2600.
Some of the pros of incorporating a business include:
- Limited liability. A corporation is a distinct legal entity from its founders. If your business is targeted by any kind of litigation, your personal assets will not be at risk; the corporation’s income will be used to pay any damages or fines you may incur. This is not only good for your wallet: it is also more attractive to investors who want to avoid financial risks.
- Tax savings. When you are running a corporation, certain expenses become tax deductible. These include health and life insurance benefits, as well as pension plans. Depending on the structure of your corporation, you may be able to save on taxes in other ways as well.
- Business longevity. The structure of a corporation makes it easier to continue running when the original owner dies or retires. When the owner of a sole proprietorship passes away, that is often the end of the business.
If you have any further questions about the best plan for your business, our Des Moines business incorporation attorneys are ready to help.
Incorporating a business requires cooperation and fair contracts between partners and shareholders. To make sure your incorporation runs smoothly, contact a Des Moines corporate attorney from LaMarca Law Group, P.C. at (877) 327-2600.