If you are considering starting a new business or have already started to act as a general partnership, you may wonder if incorporating your business is best for you. By incorporating your business you can bring legal identity to your business such as making annual reports and tax filings procedures.

This article will guide you through the three essential benefits of incorporating your corporation in Alberta.

Secure Your Assets
One of the most important benefits of incorporating your business is that owners can enjoy limited liability protection and will not be personally responsible for business debts. This liability protection is essential to protect your business from financial losses.

Gain Tax Benefit
Incorporating your business helps in gaining tax breaks, and saving on self-employment taxes and life insurance. Not only this, your company can easily apply for loans from banks and you can easily raise your capital through the sale of stocks.

Corporate Maintenance
Every business consists of annual maintenance tasks that need to be completed in order to increase the productivity rate of your business. By incorporating your business you can easily file an annual return, hold annual meetings of shareholders and elect directors of your company.

Creating Bank Account
Incorporating your business helps in establishing a bank account and legal proof that your business is a properly registered business. It is necessary to have a business bank account that will make it easier to apply for loans from banks as well as investors.

To Conclude
Having been informed of the four most significant benefits, if you want to incorporate an Alberta corporation then look for a company that specializes in online incorporating corporations, including maintaining a corporate book, establishing a bank account, maintaining annual returns, amendments of corporate documents and other corporate services.

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