One of the first decisions you face as a new business owner is whether or not to incorporate your business. The biggest advantage of incorporating is limitation of your liability. Your responsibility for debts and other liabilities incurred by a corporation is generally limited to the assets of the business. Your personal assets are usually not at risk, although there can be exceptions to this general rule. The trade-off is that there is a cost to incorporate and, in some cases, tax consequences.
Consult our office and your attorney for guidance in selecting the legal entity that is best for your business.