Incorporating a business creates a separate legal entity, meaning the business has its own assets and liabilities separate from the owners. This can provide personal liability protection for the owners, known as shareholders. A sole proprietorship or partnership does not have this level of protection, and the owners are personally liable for the business's debts and legal issues.

Incorporating a business can be more complex and costly than other business structures. There are also additional compliance and reporting requirements that must be met.

Incorporating a business may be the right choice for you if you are looking to benefit from the potential tax savings it can provide. Incorporation can provide access to lower corporate tax rates and the ability to split income among shareholders. Additionally, incorporating your business can provide personal liability protection, and can make it easier to raise capital and attract investors. It is important to consider the costs and complexity involved in the incorporation process. Please contact us to determine the best course of action for your specific business.