Should I Incorporate My Business or DBA?

The question I asked the most by business owners or someone who is going to start a business, is should I incorporate my business? The better question should be, should I incorporate my business or form a limited liability company, which is best answered by a thorough examination of what your business goals are, future growth and the type of business you will be running. But to answer the initial question, yes, you should either incorporate your business or form a limited liability company. People are under the mistaken belief that incorporating or forming a limited liability company is something that only a big business does, nothing could be further from the truth. The most important thing you need to know about a corporation or limited liability company is that it protects the owners from future litigation and lawsuits. If for no other reason than to protect you and your family from losing everything you’ve ever worked for, because of an unforeseeable lawsuit, the answer will always be yes you should incorporate or form an LLC.
Many people like to rationalize saving money, by fooling themselves in to believing that they will never get sued. The vast majority of my business clients could be saved tens of thousands of dollars, had they simply taken the proper steps to begin with, instead of having to go to a lawyer to handle the trouble they are in now. I could give you 1 million examples of why your business needs to have a separate legal entity that will take the financial and legal responsibility of any potential future lawsuits. The simple fact is most businesses fail and most businesses get sued, you need to protect yourself from both of those. The vast majority of people imagine that the form of business that they are going to start or are already operating could not possibly be sued, nothing could be further from the truth. If you deal with the public in person, you can be sued. If you have any motor vehicles that are used in your business, you can be sued. If you serve anything to the public, especially food, you can be sued. If you ever have to personally go on the property of someone else, such as their home or business, or if your employees have to do that, you have a high potential for being sued. Every business has the potential of being sued, the question is are you in a protect yourself before your sued ordeal with the liability which will fall upon you personally when your sued.
There are also many other reasons to form a separate business entity, such as all the tax benefits that come along with it, and it is much easier to sell your business in the future if it’s a legal entity all on its own, versus them trying to sell a DBA.

At the Botelho Law Group, we offer a free consultation to help you best determine what type of business entity you’d like to form, either a corporation or a limited liability company or a limited liability partnership. We offer for one low fee of $1500, which includes the $500 filing fee, all document preparation and filing with the Secretary of State in which you live to form your new business entity. On top of that you get one full free year of legal advice, any question you have pertaining to your company will be answered for you by an attorney free of charge for up to a year. The service alone is worth 10 times much the in the initial cost of setting up your company, and that benefit simply brings our law firm more future clients and is the reason we give such a tremendous benefit, for such a low amount.

Joseph F. Botelho, Esq.

BOTELHO LAW GROUP
Attorneys At Law

901 Eastern Ave.
Unit 2
Fall River, MA 02723

Office: 888-269-0688

https://www.botelholawgroup.com/

Email: jbotelho@botelholawgroup.com

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