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There are many tax benefits that can be achieved by forming an LLC. Some major benefits include:
Flexibility: LLCs can decide how they are taxed. For example, you can choose whether it is better to file your taxes as a disregarded entity (which is treated the same as a sole proprietor) or to choose corporate taxation. This decision depends on how much income you personally want to take and how much you plan to reinvest in your business.
Leasing assets: You can lease your personal assets to your corporation. This is a business expense that can be used as a write off.
Larger contribution limits: The LLC allows you to create retirement funds and life insurance policies with greater contribution limits. This enables you to save money for the future.
Incorporating is the most powerful thing you can do to legitimize your business. And at IncAuthority.com, our setup LLC services are 100% free. Always. So, don’t wait. Form your free LLC today and enjoy the protection due to you and your business under the law. Start now for free.