✧ Working on your day-to day tasks, business owners very often forget about the personal liabilities they carry on by running their businesses. Acting as a sole proprietor business owner face unlimited liability for both business and personal assets, they risk their homes, cars, savings and other personal assets.
✧ One of the ways to limit personal liability is to incorporate the business. By incorporating business owners separate personal and business assets. They create a separate legal entity separating themselves and their businesses. Although incorporated businesses are not protected against claims, creditors of the corporation can seek payment only from assets of a corporation, not personal assets of a shareholder/owner of a business.
✧ Incorporation of business can provide tax and financing benefits as well as the immediate increase in the level of credibility to the business as in the eyes of potential investors, lenders, suppliers, customers and employees the business is serious and growing.
✧ Working on their day-to day tasks, business owners often forget about the personal liabilities they carry by running their businesses. Acting as a sole proprietor business owner has an unlimited liability for both business and personal assets, they risk their homes, cars, savings and other personal assets.
✧ One of the ways to limit personal liability is to separate personal and business assets by incorporating a business. By creating a legal entity, business owners separate themselves from their businesses. Although incorporated businesses are not protected against claims, creditors of the corporation can seek payment only from assets of the corporation, not personal assets of a shareholder/owner of a business.
✧ Incorporation of business can provide tax and financing benefits as well as the immediate increase in the level of credibility to the business as in the eyes of potential investors, lenders, suppliers, customers and employees.
✧ Do you need more information on how to limit your personal liability or how to incorporate? Have questions about an appropriate business structure for your business? Don’t wait, call (289)848-0096 and book a consultation.