TAKE ADVANTAGE OF THE NEWTAX CHANGES
START BY INCORPORATING YOUR BUSINESS
2. Your corporation has an unlimited life. Corporations can continue indefinitely regardless of the life of who started the company or who is running it. 3. You can raise capital through sale of securities. Attracting investors becomes much easier to a corporation because of the liability limits and the transferability of shares.
As 2018 begins to take shape and tax season descends upon us, now is a great time to incorporate your business. By filing your paperwork today, you could save thousands with the new opportunities provided by the most recent reform. Unsure of what this might mean for your company? Here are a few pointers to help you get started. WHAT INCORPORATING MEANS Incorporating is giving your company qualifying status to be treated as its own entity. A corporation functions as a viable person in the eyes of the law. It can buy and sell property, be taxed, commit crimes, and bring lawsuits. BENEFITS OF CORPORATION STATUS By giving your company corporation status, you inherit a whole slew of benefits, but here are four big ones. 1. Corporations protect their owners from personal liability, such as financial debt. Shareholders are not responsible for the corporation’s liabilities.
4. Corporations create tax benefits. Your company is subjected to a different tax rate than your personal income tax.
TAX CUT So how does the new tax bill fit in with all of this? Well, the tax rate for corporations and businesses just received a historic cut of 14 percent. What was an original tax rate of 35 percent has been slashed to 21 percent. In addition, the alternative minimum tax for corporations has been adjusted to free-up more potential buying power for businesses of all sizes. Now is the time to take advantage of incorporating your business. With tax rates this low, not having corporate status could have you missing out on massive benefits for your company. Contact us today and let us help put your business on a path to success.
M E M E S
“GREAT THINGS IN BUSINESS ARE NEVER DONE BY ONE PERSON. THEY’RE DONE BY A TEAM OF PEOPLE. ” -STEVE JOBS
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