Let's say you just launched a successful business and you don't own any assets. You are making 10-20k$ per month as a sole trader. It's not risky business or you have tax advantages as a sole trader. At what point would you consider incorporation and why? Protecting your assets?
Would you buy your first real estate under your own name or under a company for the future protection?
I was thinking that ideal plan would be to have 2-3 apartments/houses under your own name to have safety and cashflow even if the business die and then accumulating the wealth under company. Is it the right path or some of you would prefer to don't own anything and put all under companies?
Would you buy your first real estate under your own name or under a company for the future protection?
I was thinking that ideal plan would be to have 2-3 apartments/houses under your own name to have safety and cashflow even if the business die and then accumulating the wealth under company. Is it the right path or some of you would prefer to don't own anything and put all under companies?