5 Reasons To Incorporate Your Small Business

Thinking about incorporating your Nevada business? Not sure if the cost of incorporating is worth it? You’re not alone. People all over the world start businesses but never take the steps to incorporate. Sometimes, failing to incorporate a business can be costly. If you have been thinking about incorporating your Nevada business, but you’re not sure it is worth it, consider these factors. 

 1.                  You want to protect your personal wealth such as your house, your savings and your car.

If you are not incorporated, the IRS will consider you a sole proprietor. You and your business are the same thing. If your business gets sued, it is the same as the lawsuit being against you directly. If the IRS says your business owes taxes, your individual assets will not be protected. This means you could lose your hard earned savings, your car could be seized and your home could be sold to pay your business debts. By incorporating your business, you are making your business a separate entity which means your personal assets are better protected. 

2.                  People will take your business more seriously.

Being incorporated will give your business a sense of legitimacy. You will find that being incorporated will allow you to raise funding for your business through bank loans or stock sales. In addition, customers are likely to see your incorporated business as a serious, established business rather than a hobby or side project. 

 3.                  You can take advantage of tax incentives, local government incentives and other financial opportunities that are not available to individuals

 Incorporating your business may open the door to better tax benefits depending on the type of entity you create. In addition, your local government may offer business incentives such as tax breaks, reconstruction money and other financial benefits to incorporated businesses. 

 4.                  Incorporating your business can expose you to more customers and open doors 

 Being incorporated should give you an opportunity to join various business networking entities such as the Better Business Bureau and your local Chamber of Commerce. In addition, if you are looking to do business with other businesses being incorporated may not only open doors, it may be required. Many governmental entities require their contractors to be incorporated. 

 5.                  You may have better ability to raise money if you incorporate your business

 Once you have incorporated your business, you can apply for bank loans, ask for private investment and even sell stock. You can also apply for company lines of credit or credit cards in the name of your business. 

 If you or someone you know is thinking about incorporating a business in Nevada, call us today, we can help. We offer flexible payments for small business owners and our experienced business attorneys can provide guidance on the best way to incorporate your business. You can reach us at (702) 433-2889 or fill out our on-line form for more information. 

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