Small business owners everywhere often fall victim to the same mistake. They start their small business in the most inexpensive and efficient way possible. Rather than incorporate or create a limited liability company, they choose to go the route of the sole proprietorship. This is not necessarily the best route for your business, or for you. By taking the road that seems easier today you may have set yourself up for decreased business revenue, increased tax audits, and a higher likelihood of losses from lawsuits in the future.
Here is the bottom line: A sole proprietorship is convenient, but it means that you and your business are one in the same. In which case you have put yourself in the position where you have no personal protection. In the unfortunate event of a lawsuit the plaintiff would have a full right to all of your assets, not only the ones that are linked to your business. Setting up an LLC or corporation will give you lawsuit protection that a sole proprietorship never would, as well as aid you with tax planning, give you financial privacy, and allow you to take bigger deductions.
By making the switch to a corporation or an LLC you are taking the first steps to giving yourself, your family, and your assets the protection that they deserve. First and foremost you need to work with someone who has the knowledge and experience to help you get the very best for your business. That is exactly what we aim to do. Every unique situation has it’s own unique set of needs. Our experts will give you professional guidance that will help you achieve the results that you were hoping for. Do what is right for your business today and give yourself protection long into the future.
Your business deserves the chance to thrive. Are you currently doing all that you can in order for you to make that happen? If you have not taken the steps to properly protect y Read More