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Key Takeaways from This Chapter

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 In many cases, professionals and business owners who are able to incorporate should do so—and the process may cost less than you think. So if you're able to incorporate but have not yet done so, ask your professional advisors why not?

 The main benefits of incorporation include the increased flexibility and control you gain, which can allow you to reduce your tax bill each and every year you're incorporated.

 Despite the benefits of incorporation, there are situations in which incorporating your business or establishing a professional corporation doesn't make sense. If one or more of those situations applies to you, consider holding off until the time is right.

 Finally, keep in mind that the corporation isn't a “magic solution” to create tax benefits out of thin air: you'll still need to play by the tax rules within the structure of your corporation.

Kickstart Your Corporation

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