Start enjoying the tax benefits and personal liability protection that come from forming a corporation or Limited Liability Company (LLC). You can find out how to incorporate a company, find an incorporation kit, or even incorporate on line with information found on this web page. It is more simple than you would think to incorporate online and you can always find many sites to help you with incorporation filing.

Should you incorporate? Here are some advantages to incorporation:

For an 'S' corporation:

• You have less risk from government audits.
• Owners have limited personal liability for business debts.
• Owners can use corporate losses to offset income from other status.
• Owners can save on employment taxes by taking distributions instead of salary.

For a 'C' corporation:

• Less risk from government audits.
• Owners have limited personal liability for business debts.
• Owners can deduct fringe benefits as business expense.
• Owners can split corporate profit among owners and corporation, paying lower overall tax rate.

The main disadvantages of incorporating are:

• More expensive to create and operated than sole proprietorship or partnership.
• Double taxation threat because the corporation is a separate taxable entity.
• No beneficial employment tax treatment.
• Fringe benefits for shareholders are limited.

This information, and more information, can be found on: www.corporate.com

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