Advantages & Disadvantages of Incorporating a Business

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Incorporating a business has both advantages and disadvantages, which include limiting the liability, but having additional filing fees. Weigh the pros and cons of incorporating a business with information from a portfolio manager in this free video on business strategies.

Part of the Video Series: Business Strategies
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Video Transcript

Are you considering starting a business and putting it in a corporation format? Hi this is Roger Groh at Groh Asset Management. Today we are here to talk a little bit about the pros and the cons of incorporating. Pros, well you have limited liability, certainly, any debt that the company borrows is not part of your personal balance sheet, and there may be a certain ease of transfer as it is a stand alone entity. Cons you are probably going to be additional filing fees for the states and local areas in which you operate, and there may be a difference in tax rate between what you would personally pay and what the corporation may pay. Is incorporating a wise move? Probably is if nothing else than to limit your liability. I am Roger Groh with Groh Asset thank you very much for spending time with me.

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