Do It For Yourself with Stephen A. Taylor, JD, CFP®

TGIM 4 - When do I need to incorporate my new business?


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One of the most common questions I get from those just starting to do it for themselves is, "When should I incorporate my business?"  My initial answer, "Maybe Never."  There are many myths out there when you are starting your business of as to whether you need to incorporate right away, or even ever.  The two largest are the myths that " I need to incorporate so I am protected" and "if I don't incorporate, I'm going to get killed with taxes."  Listen in as I dispel some of those myths and give some simple suggestions of where you should be focusing your time and your resources as you start up your own business.
For a more in depth discussion on the pros and cons of being a sole proprietor, click below.
Pros and Cons of Sole Proprietorships (thebalancemoney.com)
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