Guest post by Nellie Akalp, CEO of CorpNet.com, an incorporation filing service company. Nellie is a strong advocate in educating small business owners and entrepreneurs about the importance of protecting their assets and is responsible for overseeing and managing the daily operations of the business. She blogs regularly at Mashable and Tweets from @CorpNetNellie.
If you think your business is ‘too small’ to be incorporated, think again. There are many benefits to incorporating a business – most importantly, it protects you and your personal assets. Whether you’re a freelance writer or cabinet maker, incorporating or forming a limited liability company (LLC) can be a smart move. After working with small businesses across various industries, I’ve assembled the key things you should know when it comes to incorporating your business.
The benefits of incorporating your business:
There’s more to incorporating a business as you have the option to choose, the three most common legal business entities in the U.S. are the LLC, S Corporation, and C Corporation.
Over the years, the incorporation process has been greatly simplified, so forming a corporation or LLC can be painless and affordable (even for the time-pressed, limited budget, small business owner). Take some time upfront to learn about the different business structures and determine which would be best for your business. After all, both you and your business are worth it.
If your business isn't incorporated, why not? Don’t hesitate to post any questions or comments below about the process of incorporating a business.
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