Form a Nevada LLC
Business Formation
Registered Agent Service
Tax ID / EIN
Legal Services
Start up Coach
Taxes and Bookkeeping
Business Credit
Failing to Form a legal entity
This is #1 on our list because it’s the most important step in starting a business and one of the most common business mistakes. Forming an LLC/Corporation is important for a number of reasons:- LIABILITY PROTECTION— In our litigious society, establishing an LLC/corp to protect yourself just makes sense. When you form a legal entity for business, your personal assets are not at risk for the debts and liability of your business.
- ASSET PROTECTION—It doesn't take a catastrophic lawsuit to wipe out everything you own. Could you satisfy all your business obligations without tapping into personal reserves or losing personal assets? Entity formation takes this burden off your shoulders knowing that your personal assets cannot be targeted in the event of a business lawsuit.
- TAX SAVINGS— There are a ton of tax benefits that come with entity formation. LLCs and corporations are entitled by law to many tax deductions not afforded to individuals. Additionally, the self-employment tax savings alone can amount to thousands of dollars saved every year.
Start your Nevada LLC in
24 hours guaranteed
You don't need to live in Nevada to enjoy the best asset protection and audit defense a Nevada LLC can provide.
Using Personal Credit to Get Business Loans
Most small businesses tend to be financed initially by personal savings or assets of the owner. But this puts you at serious risk of damaging your personal credit score. What you need to do instead, is build business credit. Business credit is a track record of a business’s fiscal responsibility which companies, investors, or financial organizations use to determine whether that business is a suitable candidate for loans or a business partnership. Here are more perks to building business credit:- Protect your personal assets from business losses
- Limit your personal liability
- Eliminate the need for using personal credit
- Purchase vehicles without using personal guarantees
- Access more cash for the business
- Purchase items for business with convenience
- Prepare your business for future lending needs
