Getting a New Business Start-Up Into Business with a Solid Foundation
Janathan L. Allen, APC is experienced in all aspects of business formation including incorporation, entity selection, creation of corporate documents and operation of businesses both domestic and foreign, including corporations, general and limited partnerships and limited liability companies (LLCs). We have the ability to create many of these entities on an expedited basis, generally in seven days or less.
Business formation is much more than the creation of a few simple legal forms and a filing fee with the Secretary of State. Your business entity provides critical separation of your personal assets from the debts, liabilities and creditors of the business itself. The proper selection of an entity is informed by the nature of the business to be conducted, geographic coverage, and a long-term vision of how the company will grow and ultimately your exit strategy. Taxation issues should be given consideration, and accounting methods and systems should be approved and implementd.
The corporate documents should detail the roles of principle stakeholders, voting rights, profit distribution, and provide for future investment into the business. Corporate documents should also address critical life events for business owners including valuation of a business interest in the event of:
- Personal Bankruptcy
- Disabling Injury or Death
Our experienced business formation attorneys work with new business owners, entrepreneurs and business start-ups to ensure that all aspects of business formation are taken into consideration. We prepare corporate documents that will see your business through many stages of opportunity, growth and challenge. Disputes will arise. This is simply a business reality, and your corporate documents should anticipate and provide protections against foreseeable risks while preventing litigation.
Our services include consideration of and planning for the following issues:
- When you should incorporate (and when you should not)
- How to lower your taxes by forming a corporation
- Positive aspects of incorporation, including credibility, attracting investors and transferring ownership
- The truth about double taxation
- Ensuring your limited liability is not undermined by personal guarantees
- Registration and maintenance of a corporation
- S Corporations versus C Corporations versus LLCs
- S Corporation vs. C Corporation — when to choose one over the other
- Taxes: what you can do with a C Corporation that you cannot do with an S Corporation
- Differences in tax rates and structures between C Corporations and S Corporations
- One major advantage of an S Corporation over an LLC that most people rarely know
- Important limitations of S Corporations
- Statutory Close Corporations
- What it is and how it is different from a regular C Corporation
- When to choose a close corporation instead of a C Corporation
- How you can distribute profits of a close corporation in a way that is prohibited for a C Corporation
- Limitations of close corporations
- Professional Corporations
- Professional corporation — what it is and who can create it
- What a professional corporation can and cannot do
- Important differences for limited liability of a professional corporation
- What is a limited liability company (LLC)
- Tax flexibility of an LLC
- Special allocation of income
- Limited liability of an LLC and how not to jeopardize it
- What taxes to pay with an LLC
- Disadvantages of an LLC
Contact Experienced Business Formation Lawyers Serving San Diego
Starting a new company is an important step in the life of any business owner or entrepreneur. Once your company is formed, it will be important to fulfill corporate compliance and governance requirements to protect the corporate veil. Ensure that your company is prepared from the outset to survive initial start-up, grow and prosper. If you are forming a new company we invite you to contact us or call for a free and substantive consultation at 866-631-3470.
We provide on-going business advisory and consulting services to help our clients to avoid business pitfalls, and to leverage the extensive experience and expertise of our seasoned business professionals to help the new company to grow more rapidly.
Janathan L. Allen, APC, located in Southern California, provides legal services to clients located throughout the United States and worldwide.