I spoke with a lawyer (who is a family friend) the other day about incorporating a parent company for all my business ideas.

She summed up the reasons for incorporating in two ways:

1. The first reason is for liability. For example, if you ran a day-care business, as a corporation, your personal assets would be protected if your business ever got sued.

This first reason doesn’t apply to any of my online ventures. I can’t imagine a scenario where I could get sued. Plus I don’t really have enough assets (yet) that need protecting If you want my old car or the home I own 1% on, come and get em.

2. The second reason is for tax/financial purposes. Corporations have ways of doing sneaky things with money to decrease their tax burden. The lawyer I talked to recommended that I talk to a financial advisor/tax person to go over the benefits to incorporating. Sadly she didn’t help me with any of the sneaky things. And no, the phrase “sneaky things” was not the expression she used.