Posted by Sandy Roberts on 11/3/2014 to Tips for Entrepreneurs
Independent Texas Truck Drivers
Incorporate Truck Instead of running as Sole Proprietor
IncSmart Texas (Small Business and Startups) - You own and operate your own truck or even several rigs. One serious accident involving one of your rigs could put your personal assets at risk. Your insurance is suppose to cover all of the expenses, but often times they don't. It's during these incidents when the accident victims will go after you and your assets like bank accounts, cars, houses, and even your truck. You must incorporate your truck to protect you and your family. You may be found personally liable if you are behind the wheel. Most owner-operators who own more than one truck are still doing business in their own names as sole proprietors. If an accident occurs, then the victim will go after the business assets AND the owner's personal assets to recover damages.