Why should I incorporate my business?

Are you interested in knowing the reasons why you should incorporate your business?

On this website, we will show you the most common benefits these entities provide to you.

An LLC or a Corporation will provide you with the following benefits:

1. Asset protection: The incorporation of your business will allow you to limit your properties if there is any legal inconvenience. That means that the company for itself has to be responsible for its acts.
2. Better organization: After setting up a company, you can request the EIN number issued by the IRS, with which you should submit the income tax return of your business. This will allow you to differentiate the expenses and incomes, and perform more deductions than an individual can request.
3. Multiservices: You will be able to perform different commercial activities in the same entity. The only thing you have to do is to register trade names, in other words, you can have a name for a sales business and another name for a restaurant.
4. Chapter 11 – Bankruptcy: In case of a financial crisis in your business, you are entitled to file for bankruptcy, which means that you could file a bankruptcy proceeding for a period stated by the judge that will allow you to reorganize your profit and investments for a period of time.
5. Support in case of economic impact: If your business is duly incorporated, you will be visible to the government and the State where you carry out your work. Therefore, it will give you access to the benefits in case of natural disasters, pandemics or economic impacts affecting the country.