Briggs Law Group is a boutique Phoenix law firm that specializes in corporate legal
counsel services, business transactions, representation before government agencies,
and campaign finance and election law advice.
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Mark Briggs: Advantages and Disadvantages to Incorporating
Incorporating a business affords the business’ owners with various advantages, a fact which has practically made the process of incorporation automatic for new business owners. However, there are also some little known disadvantages to incorporating which may cause a business owner to think twice. Here we will review the advantages and disadvantages to incorporating a business.
Incorporating a business may seem like a common sense decision for any serious business owner. Incorporating allows the business owner to protect his or her personal property from the business’ liabilities, and facilitates the process of investing in the business. But, there are drawbacks to incorporating including the possibility of double taxation and having to follow relatively strict recording and reporting guidelines.
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