Which of the following is not a possible advantage of incorporating a business?
A)The ability to defer taxes on income left in the business.
B)The ability to absorb business losses against employment income.
C)Limiting personal liability to the amount paid for shares.
D)The ability to use the lifetime capital gains deduction.

Question

Quizplus · Accepted Answer

Incorporating a business does not allow business losses to be absorbed against personal employment income. This is typically a feature of sole proprietorships or partnerships, not corporations.

Which of the Following Is Not a Possible Advantage of Incorporating