What do you need to know when starting a business during the COVID-19 pandemic?? We have all heard of the plans to turn the economy around. These plans include ideas and potential additional funding to help small businesses.
Are you one of the San Diego entrepreneurs who are thinking of starting a small business? If so, there are many factors to consider beyond just making the business profitable. You must consider the legal liability of operating the business, the taxes you will be subjected to, the ownership structure, and a myriad of other factors.
Selecting the appropriate legal entity when starting a small business is most important decisions you will make. The legal entity you select will not only affect the factors listed above, it will also impact many other areas of your business as well as your personal finances. Running your business as a sole proprietorship is often a risky decision, especially with regard to legal liability. Without protecting yourself with the corporate shield of a legal entity, your personal assets are unprotected in the event of a lawsuit.
With the plethora of entities available to California businesses, it is often hard for a start-up to know which entity is best for them. Business and tax attorneys like Janathan Allen provide decades of experience and legal skill helping owners of businesses of all sizes with selecting the appropriate legal entity for their business. Consulting with one of our attorneys on the complex legal issue of entity selection can help to put a business owner at ease.? Our legal, tax and accounting team will take into account your goals for your business as well as your unique income and tax exposures.
The knowledge that you are taking the proper legal steps in setting up your business will allow you to focus on what you do best, running the company.
For assistance with selecting a legal entity or any other legal needs your business may have, we invite you to contact us or call today at 866-631-3470 to schedule a complimentary, initial consultation with one of our legal professionals.
