Today’s Tip – You’re a business so make it your business; Incorporate your company and make a difference starting with running yourself like one.
Incorporation, oh no. that’s scary! Corporations do Evil thing’s, remember the Umbrella Corp, Wyland-Yutani Corp or Cyberdine Systems. That’s what can happen, Zombies, Aliens, and Terminators OH MY! However, remember this Umbrella killed everyone on the planet, Wyland was around for several hundred years at least, even after bringing aliens to Earth. Cyberdine, well I suppose it didn’t matter after SkyNet nuked us all but they would have been safe from prosecution.
Simple reasons to Inc. First, the Corp is for legal purposes, a person! If OCP Corp. owed Cyberdine for the purchase of two ED-209 Model Urban Pacifiers and didn’t pay the people who own OCP wouldn’t be personally liable for the money. Now think of a Band with multiple members who aren’t Inc. One of them orders 500 t-shirts in the bands name.. uh oh. Next you can write off some things on your taxes since its money paid into the company for example you need a new microphone for your act, you pay for it, keep the receipt and when tax time comes around you can write it off on your personal taxes lowering what you actually owe. It protects your personal assets from lawsuits, that’s nice right. Also makes it easier for you to raise funds for projects and lends you an air of respectability.
Incorporating is a smart thing to do for yourself. You’re working in the public where people sue because they are too stupid to realize that coffee is hot, fast food makes you fat and smoking causes cancer. Do you want to be worried about one of them tripping and smacking their heads because they tied their own shoes together, but blame you because you should have stopped them?