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RE: Benefits of Incorporation

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Posted by: Rich Crowley at Fri Sep 21 21:57:01 2012  [ Report Abuse ] [ Email Message ] [ Show All Posts by Rich Crowley ]  
   

Hey Mark, glad the animals are doing well for you.
First off I am an accountant gone herp! So as far as the subject you are asking, I love this stuff also.

You have various organizational approaches to take. The question of liability is the biggest motivator for incorporation so you can protect personal assets. But as a corp you also get taxed separately. Then your profit distributions or payrolls get taxed as well.

There are pass thru (s-corp) structures and proprietorships strutures as well. Depends on your personnal assets and the potential for liability from the business. Many people still follow proprietorship since the cost and risk don't warrant incorporate.

Just some thoughts.

Good luck!

rich
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