This decision should not be taken lightly. It is very important to research the different types of business ownership including corporations and how will they affect you, your family and employees. 

Corporate structures come in many forms such as an S Corporation, Limited Liability Corporation (LLC) and C Corporation. Each one has special rules, advantages and disadvantages. You will need to talk to a qualified consultant on this matter to find out which entity will work for your home based business currently and in the future.

Items to Consider before You Start a Corporation or DBA

• Ownership

• Profit Distribution

• Share Holders

• Share Distribution

• Tax Structure including Deductions

• Benefits and Employee Plans

• Retirement Plans

• Depreciation

• Death Benefits

• Insurance

• Protection from Creditors

• Salability

• Accounting - Fiscal or Calendar Year

My suggestion is to do a search of the various types of business entities first and get an understanding of the principles behind each corporate structure as well as the DBA. Then you can ask better questions of a tax consultant, attorney and business consultant.

You can find most information at the government websites which you can find in my business directories area. You will also be able to decipher what is good information and possibly not so good. I have found that each tax consultant, attorney and business consultant has a different opinion on the subject.

Bottom line:

It is very important to talk to someone who knows the tax laws in your state or country and can give you the proper advice on what is need to start a corporation. Asking the right questions will save you thousands in attorney fees if you have to create another corporate structure because of bad advice and ignorance.

I have put together some online resources that I use at my Incorporation Services page. Your home based business needs a firm foundation to take you and your family to the levels of success that you deserve and desire.