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Business Structure: Sole vs Partnership vs Corporation

todjikidtodjikid PExer
edited March 2019 in The Entrepreneur's Corner
Hello guys,

what are the benefits of setting up a corporation through SEC compared to a business na meron lang business permit? May tax cut ba? Say may stall kami sa palengke tapos meron kaming pinarerentahang apartment, pwede ko ba i-register sa SEC ang business namin? Ano naman ang benefits na makukuha? How can we save money through it?

Thanks.

Comments

  • i think one advantage of being in a corporation is if you really messed up bad with your clients, they won't be able to sue you and your liabilities are limited to the corporation's assets.
  • *bump* for this one.

    I'm hoping somebody could give a quick overview of the tax implications.

    Hindi ba lower ang tax rate for corporations up to a certain amount?

    Thanks.
  • todjikid wrote: »
    Hello guys,

    what are the benefits of setting up a corporation through SEC compared to a business na meron lang business permit? May tax cut ba? Say may stall kami sa palengke tapos meron kaming pinarerentahang apartment, pwede ko ba i-register sa SEC ang business namin? Ano naman ang benefits na makukuha? How can we save money through it?

    Thanks.

    corporation ay para sa malalaki assets.

    kung yan lang business niyo.. ok na business permit at proprietorship.
  • when i'm openning a business what is best single proprietorship or corporate? advantage and disadvantages?

    Thanks
  • Single proprietorship - in case may "trouble" like kung may magdemanda, they can take away not just your business assets but also your personal assets
    -mas malaki ang kaltas ng tax compare sa corporate

    Corporate - in case may "trouble", they can only take the assets of your business. Hindi nila magagalaw ang personal assets mo. When it comes to taxes, after tax expense ang corporate. :-)
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  • When it comes to control, obviously sole proprietoship has the control on his business, he is the only responsible to all debts and liabilities of the business. While partnership, they share the responsible of paying debts. They also shares on the control and management.
    When it comes to formations, sole proprietorship cost only minimal. Also no corporate tax.
    Partnership can be dissolved easily.

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