Usually, its because someone said you should do it, or you read an article about liability and got nervous.
But forming your LLC or Corp comes with lots of benefits.
- Makes it official — you’ve formed a company in the name of your business! You’re a boss. You’ve got paperwork that makes it real.
- Protects your assets — Running a business comes with risk from lawsuits, mistakes that may not be your fault, and costly errors. A Corp or LLC offers some protection (read more here).
- Tax benefits! Corps and LLCs allow:
- Separation of your business income and expenses from your personal bank account
- Deduction of business expenses from your income at tax time
- Lots of other ways to use the Corp or LLC to save
- Depreciation of assets
- Retirement savings
- Sale of part or total ownership, raise capital for your business
Still not sure? Take our quiz!
Ready to form your LLC or Corp? Let’s Go!
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