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In-Depth Incorporation FAQ

Do I need to incorporate my business?

We can't tell you whether or not you should incorporate your business. However, we can explain the advantages of incorporation so that you can make the decision for yourself. The most important reason to incorporate your business is to protect yourself from business liabilities. If you are operating an unincorporated business, its creditors may be able to reach your personal assets. Assets such as your personal residence and personal bank account can be used to pay business debts or to satisfy a lawsuit against your business. If you incorporate, business creditors cannot reach your personal assets, as an incorporated business and its owners are separate entities.

Other reasons to incorporate include: tax advantages, perpetual existence of the corporation, the image of the company, improving management in the company, and the ease with which it can be done online with Direct Incorporation.