Professional Business Formation
Since you have put so much time and effort into planning to have your own business, it makes sense to properly establish your business so that there are no surprises down the road. Rather than a one-size-fits-all proposition, formation of a business entity includes several decisions that will continue to impact your business throughout its duration.
Ensure A Solid Foundation
To make sure that the entity you form meets your business needs, consider the benefits and responsibilities of the different business structures. With an MBA as well as experience practicing business law, attorney in Salem is uniquely positioned to deliver trusted legal advice for the business community.
LLC Or S-Corp?
Sole proprietors have the option of incorporating as an LLC or as an S-corp in the state of Oregon. A lawyer can be a great resource to inform your decision-making process while helping you answer the following questions:
- What type of company structure is best for my goals?
- What type of legal documents do I need to carry out my decision?
- What are the ongoing responsibilities of my business formation choice?
- What do I need to do to protect my personal assets verses my business assets?
Tax Implications Of Your Business
The type of business formation you choose can shape the kind of taxes your business pays. For example, even if you incorporate as a limited liability company (LLC), you may be able to take advantage of S-corp tax status. Consulting a business law attorney and a CPA is essential to ensure that no detail is overlooked.