Archives

Creditor-proofing Your Company

Protecting your company’s assets should be one of your top priorities.  There are several ways to do so. 1) Incorporate your business. One of the biggest advantages of incorporating is that it protects your personal assets from creditors. See “When Should I Incorporate?” 2) Secure your loan. You can loan money to your company and [...]

Located in: Real Estate Law

When Should I Incorporate?

At some point, it may be worth incorporating your business.  Here’s what you’ll need to consider. 1.      Limited liability As a general rule, shareholders are not responsible for corporate debts. If a corporation goes bankrupt, its shareholders will lose no more than their investment (unless the shareholder has provided personal guarantees for the corporation’s debts). [...]

Located in: Real Estate Law

The Structure of Your Business

The three basic types of business structure are a sole proprietorship, a partnership and a corporation.  A sole proprietorship is easy to form – you simply start doing business.  The business is owned and operated in your own name or through a trade name.  Business income and personal income are treated the same for tax [...]

Located in: Real Estate Law