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Entrepreneurs often question whether or not incorporation is right for their small business. It is an undertaking that requires a great deal of time and effort, after all - not to mention the legal fees associated with it. However, the liability that a small business owner personally assumes if he or she is not incorporated is quite high, and one runs the risk of losing it all should they wind up in court.
"It costs very little, about $250," Ari Flemenbaum, a business and corporate law attorney with Chicago’s Griffin & Jacobson, told NBC Chicago. "Compared to the time, money and effort - we’re in a very litigious society. Small businesses need to protect their personal life from their business - not to mention the tax issues."
Once a small business owner opts to incorporate, he or she must decide which structure to file under. Typically, the most popular structure is LLC or S corp. These both offer a great deal of asset protection, so if an entrepreneur ends up with a large amount of debt, they will only be responsible for the portion of capital that he or she invested in the business.
This article is brought to you by Vcorp Services – offering registered agent services to businesses nationwide. Providing a physical address to accept service of process on behalf of your corporation, Vcorp’s registered agents can handle all of your company’s statutory representation needs.
"It costs very little, about $250," Ari Flemenbaum, a business and corporate law attorney with Chicago’s Griffin & Jacobson, told NBC Chicago. "Compared to the time, money and effort - we’re in a very litigious society. Small businesses need to protect their personal life from their business - not to mention the tax issues."
Once a small business owner opts to incorporate, he or she must decide which structure to file under. Typically, the most popular structure is LLC or S corp. These both offer a great deal of asset protection, so if an entrepreneur ends up with a large amount of debt, they will only be responsible for the portion of capital that he or she invested in the business.
This article is brought to you by Vcorp Services – offering registered agent services to businesses nationwide. Providing a physical address to accept service of process on behalf of your corporation, Vcorp’s registered agents can handle all of your company’s statutory representation needs.
About Vcorp Services LLC
Vcorp Services assists in the creation of new businesses and helps maintain existing businesses in
all 50 states. Quick, accurate and at the lowest rates, Vcorp's knowledgeable and experienced staff
has helped form thousands of new businesses including: LLCs, S-Corporations, C-Corporations,
Partnerships, Non-Profits and Professional Corporations. Vcorp works with entrepreneurs, legal and
tax professionals, as well as real estate experts to set up and maintain businesses across the
country. Vcorp also specializes in helping small businesses to get started, grow and remain in
compliance with federal and state regulations.