3-plus benefits of incorporation, courtesy of your professional accounting team in Rancho Cucamonga, CA

We congratulate you on taking the step of incorporating your business seriously. All too many times, owners may consider this yet another possible task to check off their list. The business structure that you select depends on many different factors, including the nature of your workforce, and it affects your liability for debts and judgments, ownership interest, property ownership, paperwork and filings, and a whole host of other critical matters down the road. To help you harness the benefits of incorporation in Rancho Cucamonga CA, Whyte & Associates will work closely with you to determine the best structuring option for your venture. As highly-credentialed Enrolled Agents through the U.S. Department of Treasury, we can guide you toward the ideal arrangement for you and your team, partly, by exploring the “pros” and “cons” of incorporation as a Limited Liability Company (LLC), S Corporation, C Corporation, or other types of entities.

When we at Whyte & Associates talk about getting the most out of the time and resources associated with incorporation, we are referring to benefits and implications such as:

• Protection of personal assets – As legal entities, corporations are responsible for debts. So, creditors largely go after the corporation’s assets. That means the roof over your head, the car to get you from Point “A” to Point “B,” and your nest egg are safe. This provides a huge relief for owners as they go about their business without the risk of losing everything.
• An edge when raising capital – To grow, we all know our businesses need a little injection of capital from time to time. It is generally easier to access that capital when you’re set up as a corporation, rather than an unincorporated venture; for instance, financial institutions look upon incorporation kindly when determining borrowers’ loan-worthiness.
• Less taxing liabilities – Incorporated organizations’ taxable profits may be minimized with the likes of qualified operational expenses (travel, entertainment, marketing), and available deductions are not limited to health benefits, associate salaries, qualified retirement, and pension monies.

Plus, the benefits listed above say nothing of the less tangible advantages, such as the boost to the public perception of your business that comes with incorporation, and the owner anonymity that is provided courtesy of this process and structure. Call (909) 575-0080 to discuss your options with our highly qualified Enrolled Agents at Whyte & Associates in Rancho Cucamonga, CA.

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