There is a saying that a person only gets one chance to make a first impression. In a similar vein, you only get one opportunity to structure a business for the first time. That does not mean an improperly structured business cannot be restructured. However, choosing the right form of a business is an important part of starting a business.
Typically, choosing the proper ownership structure for a business depends on the type of business being run, the number of owners, and its financial situation. No one choice suits every business. Issues to consider are: potential risks and liabilities of the business, formalities and expenses involved in establishing and maintaining the various business structures, income tax consequences, and capital and financing needs.
Our attorneys provide legal advice to business owners on choice of entity matters, such as sole proprietorships, corporations, partnerships and LLCs, to gain maximum tax benefits, business flexibility and protection from liability and creditors. Our attorneys represent business of all sizes, joint ventures, business owners, and individuals, and also represent other attorneys and accountants.