Accountants, At What Point Should A Small Business Incorporate?
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Thoughts from a financial advisor:
The cost of incorporation annually is about $5000.00 give or take. As soon as your accountant can show you definitively that you will save money tax-wise by incorporating, go ahead. Or if you have a business that attracts considerable liability, that might be another reason, regardless of the cost. My rule of thumb is $50K in gross revenue minimum, but do the math.
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Oh, wow. That soon. Well I'm well past the $50K mark. It sounds like this is something I should be seriously considering soon.