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    Elaine and Roy's Home Health Agency

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    Elaine and Roy are registered nurses. They want to start a home health agency, taking referrals from physicians and providing health care to homebound patients. They plan to be in business for 10 years. Identify the reasons why incorporation is an effective idea for their business, the steps they must take to incorporate their business, and the steps they must take to dissolve the corporation once the 10 years has passed.

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    Solution Preview

    Basically, incorporation is a good idea because if they ever need capital for various projects or ideas that they come up with, it's much easier to acquire investors and for banks to loan money to a corporation than to a company that doesn't incorporate. In addition, if the business incurs a large amount of debt and the company comes to a point where through unforeseen circumstances they can't pay their debt, they would be only liable to the amount of their contribution to the ...

    Solution Summary

    Elaine and Roy are registered nurses. They want to start a home health agency, taking referrals from physicians and providing health care to homebound patients. They plan to be in business for 10 years. Identify the reasons why incorporation is an effective idea for their business, the steps they must take to incorporate their business, and the steps they must take to dissolve the corporation once the 10 years has passed.

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