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Imagine this: You have a GREAT business idea and you’re ready to get going.
What do you do next?
What you should do next is decide what type of business entity is ideal for what you are wanting to do and accomplish. Choosing the proper business entity for your business is vital to the success of your business idea.
With almost no exception, the best course of action is to organize as some type of legal business entity, not as a sole proprietor.
Do you want your home, personal bank account, and retirement savings on the line for a business liability? If the answer is no, then you do not want to be a sole proprietor.
Many factors come into play when deciding what type of entity is right for your business: the extent of protection from personal liability that you are seeking, the desired tax treatment of your business profits and take-home income, management structure, whether you anticipate adding future equity partners, capitalization, and more.
State laws determine how particular entities should be set up and conduct their business. These laws are very specific and set out the legal responsibility of each business form.
In addition, depending on your county and locale, other taxing authorities and regulatory agencies may also have regulations with which your business must comply.
This Essential Report Demonstrates How The Building Blocks Of Your Business Set You Up To Perform – Our Gift to You
LIFT your business to the next level with solid Legal, Insurance, Financial and Tax foundations + a trusted advisor to guide you.
We ask you the questions you may not even know to ask so that you do not worry that you are missing something.
And then we discuss your options with you in a way that allows you to know you are making informed decisions about the common questions that come up with proper business planning:
» Where to form your entity
» What type of entity to form
» How to set up your bank accounts
» What type of insurance you should have and how much you need
» Which agreements you need immediately and which can wait
» How to protect your intellectual property now and whether to own it in a separate entity from your operating assets
» How to work with your CPA for maximum tax savings, and more
We go over all of the above, and a lot more, during your LIFT Your Life And Business Planning Session. Schedule today!
Learn the 6 common mistakes families and small business owners make when hiring an attorney, and how to make the smart and loving choice for your family and business.
Enter your first name and best email address and we'll send you the free report to educate, inform and empower your choices.
Planning For Your Children
Special Needs Planning
Asset Protection Planning
Estate Tax Protection
Elder Law And Medicaid Planning
Adult Guardianship And Conservatorship
Business Entity Formation
Small Business General Counsel
Landlord / Tenant
P&P Law – Lynnfield
40 Salem St, Bldg. 2
Lynnfield, MA 01940
P&P Law – Danvers
99 Conifer Hill Drive,
Danvers, MA 01923
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