Incorporation Crucial For California Sole Proprietors ...

As a California sole proprietor, personal liability for business debt is unlimited. Personal assets such as homes, personal bank accounts, retirement savings, investments, and other valued assets are exposed if a California business operating as a sole proprietor experiences severe financial difficulties.

Separation of personal assets from California business activities is more important than ever in today?s uncertain economy and increasingly litigious society. Incorporating your business with the California Department of Corporations draws a firm line between your personal and business assets, limits personal exposure from liability, and protects personal assets from risks or debts associated with business activities.

Corporations and Limited Liability Companies (LLCs) are both separate legal entities (business structures) that enjoy certain protections and benefits under California law. Incorporating or forming an LLC allows a business owner to conduct business in California without worrying about losing personal assets resulting from business liability, and can also result in substantial tax savings benefits.

Websites are now available which assist sole proprietors with the formation of Corporations or LLCs by providing written tips and forms necessary to proceed with California business incorporation, but these are rarely a substitute for one-on-one attention to specific California business structure needs to ensure personal asset protection and maximize tax benefits.

Form a corporation or LLC today to protect your personal property and save on taxes, or contact a professional California business lawyer to assist with your California Corporation or LLC formation needs. Contact the Wade Law Group at (888) 909-9430

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Source: http://sanjoselitigationandlawsuits.com/1100/incorporation-crucial-for-california-sole-proprietors/

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