We can assist you in setting up a new business, and we work with small to medium size businesses to handle ongoing legal issues, as well as drafting contracts and agreements.
Probably so. For clients who are in the process of setting up a new business, we meet with you to discuss your goals, the type of business you are starting, and how you plan to raise capital. After we understand your business and legal situation, we can advise you about incorporation or formation of an LLC.
If you operate as a sole proprietorship, this leaves all of your personal assets at risk for business debts or lawsuits. So, for most businesses, we recommend incorporation or the formation of a limited liability company (LLC) , so that you can have the benefit of limited liability protection.
Limited liability means that you, as the owner of the business, are not personally liable for the debts or obligations of the business. So you don't run the risk of losing your home or other assets because of a business debt, lawsuit or other claim against your business.
It is important to remember that you must properly separate your business operations from your personal finances, and also follow other legal rules, in order to ensure that you keep your limited liability protection. We review these issues with all clients who are forming new businesses.
It depends on the type of business you have. There may be tax advantages to choosing one over the other, but we would need to meet with you and understand the details of your business in order to advise you on this question.
Legally, you get the benefits of limited liability protection with both a corporation and a limited liability company (LLC).
An S Corporation is a regular corporation that has filed an election with the Internal Revenue Service to be taxed as a partnership. By making this election, a business owner can enjoy the limited liability protection of the corporate form, together with the pass-through tax advantages of a partnership.
We would need to meet with you and understand more about your business, in order to determine whether an S Corporation is right for you.
A C Corporation is a regular corporation. In other words, a corporation that has not filed an "S" election with the Internal Revenue Service.
We would need to meet with you and understand more about your business, in order to determine whether a C Corporation is right for you.
LLC is an abbreviation for "Limited Liability Company." This is a relatively new type of business organization, that combines the characteristics of a partnership and a corporation. LLCs have become very popular for small businesses.
We would need to meet with you and understand more about your business, in order to determine whether an LLC is right for you.
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