Should I incorporate or stay as partnership?

Poll - Total Votes: 0

Incorporate ASAP

Stay In General Partnership

You can only vote on one answer.

Benefits of Inc:
Limited liability protection
Tax deductions & credits
Credibe to investors & clients
Issue stocks, bonds, benefits
More funding & mentorship

Risks of Inc:
Corporate + personal taxation
Extra legal compliance
More/complex bureaucracy
Initial registration costly
Less executive autonomy

Benefits of GP:
More executive autonomy
Personally taxation only
Less, simpler bureaucracy
Initial registration cheap
Less legal compliance

Risks of GP:
Unlimited personal liability
Less trust among third parties
Less tax deductions & credits
Cannot issue specific assets
Some opportunities blocked