Choosing the right structure for your business can be very important to the life and success of your company. Common forms include sole proprietorships, partnerships, corporations, and limited liability companies. While sole proprietorships are the easiest to set up, they offer the least protection from liability for the owner. One of the benefits is you are taxed on the business income only once, and on your personal tax return. Partnerships are similar in this respect, the only difference being a partnership is simply two or more people or entities coming together to do business. A corporation is a separate entity. It can enter into contracts, sue and be sued, and incur debt. It is owned by shareholders, and can be in the form of a C corporation or an S corporation. A limited liability company offers the protection of a corporation, but has added tax benefits for the members. Our attorneys are experienced in business structuring and can guide you and your business to a path of success.
While there are online do-it-yourself options for structuring your business, be aware that a lot of the protections afforded by these types of business structures can be invalidated if you do not conduct your business operations properly and according to the law, no matter how well you prepared your online forms. We have the experience necessary to protect your personal assets and to set up your business so you can be confident you are acting in accord with the current state of the law both today, and for many years to come.