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.
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
2. People will take your business more seriously.
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
3. You can take advantage of tax incentives, local government
incentives and other financial opportunities that are not available to
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
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
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.