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    4 Replies Latest reply on Jun 2, 2009 5:53 AM by phanio

    Getting your business Incorporated

    GratefulNbles Newbie
      Is that an option for people who wants to be liable for their business as a business and not personally? Can you get business loans better that way? What are the benefits of incorporating your business? What are the downfalls?
        • Re: Getting your business Incorporated
          LUCKIEST Guide
          Getting your business Incorporated

          You ask good questions and yet you DO NOT share.

          Go to Members page and share some info and then I will be happy to answer your questions
          • Re: Getting your business Incorporated
            phanio Pioneer
            Usually someone will incorporate or form a LLC to reduce their personal liability. By doing this - you create a new entitiy of and by itself. Meaning that it becomes a living, breathing entity. Thus, if your business is sued - your personal assets are not at risk in that lawsuit (for the most part - unless you really step outside the corporate entity). There can also be tax benefits for organizing your business - especially if you have or plan to have employees.

            Suggestion - call one of the many companies that can help you organize (I use LegalZoom). Talk to them about your options and the benefits of each. I would then consult an attorney and CPA. While these many have a bit of a cost - they will save you ten times that amount in the long run.

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