Overview of More Corporate Advantages
The limited liability a corporation provides its shareholders is certainly
one vital reason to incorporate. However, a corporation provides additional
benefits that may not be available through other entities:
— Employees can participate in corporate profits and defer their income
in corporate retirement plans.
— Corporations frequently enjoy lower tax rates than individual taxpayers.
— Tax brackets may be split among several corporations.
— Social Security payments are 50% tax deductible to the corporation.
— Trusts, limited partnerships, LLCs and other protective entities can
own a C corporation.
— One can frequently consolidate the income and losses of one corporation
with those of other corporations to reduce overall income taxes.
— Corporate shares can be donated to maximize deductible charitable contributions.
— Certain tax-deductible fringe benefits are available only through a
The advantages of incorporating are significant. But an LLC may give you
all the corporate advantages and other advantages that corporations do
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