Explain disadvantages and advantages of the Legal Forms of Private Law Firms in the Philippine setting.
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Advantages and Disadvantages of Becoming a Corporation It's up to you to decide if incorporating is right for you.
Explanation:
- The most common types of corporations are C-corps (double tax) and S-corps (not double tax).
- Benefits of a corporation include personal liability protection, business security and continuity, and easy access to capital.
- The disadvantages of a corporation include being time-consuming and subject to double taxation, as well as having to follow stringent formalities and protocols.
- This article is for entrepreneurs trying to determine their business structure and whether a corporation makes sense for them.
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