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Do you need a Corporation? There are certain tax benefits to forming a corporation as you may already know. Also, your corporation may obtain a line credit that you (as an individual) might not otherwise enjoy. Also -- and perhaps most importantly -- a corporation can shield you (and your personal assets) from liability. Protecting Yourself... As your corporation enters into contracts, only the corporation (not you personally) will be liable for its debts in most instances. It also pays to have a corporation rather than a partnership because, in a partnership, you may be liable for your partners personal or other debts, whereas, in a corporation, each officer is not necessarily liable for the debts of other shareholders. Get a Real Lawyer. You deserve an experienced, licensed attorney (a living breathing person) help you. Suffice to say, you should not entrust the protection of your wealth to some "kit" you download off the internet. Forming a new corporation --and having it done right the first time -- may be less expensive than you think! |
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412.780.0008 |
Elliott & Davis, PC 425 First Avenue Pittsburgh, PA 15219 Fax: 412.774.2168 412.780.0008 |