Skilled Legal Guidance On Business Formation
To prevent potential legal issues or disputes in your business, you need to shield it with the proper legal framework. A knowledgeable attorney can help you navigate the complexities of choosing the appropriate business entity.
The first major decision of any venture is choosing the most suitable business structure, which will also determine how the business is taxed. At Matthews Law Firm, Inc., we will diligently analyze your situation and expectations and help you make informed decisions. If you have business partners or are a sole business owner, our attorney will walk you through your options and explain in detail the pros and cons of each business structure.
Creating A Solid Legal Framework For Your Company
Our lawyer helps business owners and partners in Southern California and will assist you in understanding the rights and obligations of every business entity. Your business entity will also determine your finances and how you will pay taxes and relevant liabilities.
For example, if you are a sole business owner, you may consider a sole proprietorship business entity. Under such an entity, you do not need to register your business or fill out complex paperwork. Filing taxes is also more straightforward. However, you are responsible for all debts of your business and your assets might also be at risk. Freelancers and small one-person businesses may qualify for this business entity.
However, if you have business partners, you may qualify for the following options:
- General partnership
- Limited partnership
- Limited liability company (LLC)
- S corporation
- C corporation
Your business entity will also define your legal protection in any disputes, whether against your partners or external entities, such as customers or competitors. Your entity determines your eligibility for loans, sponsorship and protection of your assets. Therefore, it is vital to have trusted legal advice to protect your interests, finances and assets to shield you from any future legal dispute.