Business Organizations

Those initials after your business name aren’t just for decoration. They have real financial and operational implications.

Believe me when I say that being your own boss isn’t always everything it’s cracked up to be.

Business Organizations
The good news is that a little extra effort on the front end resolves many adverse issues. There are several different possible business organizations. They all have significant pros and cons. So, one of them is right for you, your employees (if any), and your family (if any). Generally, laying a solid foundation is the key to success in this area. If you do everything right the first time and anticipate problems before they occur, your business will run more smoothly. If that sounds like a lot, don’t worry. That’s what I’m here for.
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Talk to us before you hang out that “Open” sign. We’ll help you get started on the right foot.

FREQUENTLY ASKED QUESTIONS

Please Tell Me About Business Associations Because I’m Dying to Know

When they launch sole proprietorships, many people use an assumed name or DBA (doing business as), like Kwik Klean Laundry (catchy name, huh?). But a DBA is optional. Other than that, you need nothing to start a sole proprietorship. You are the absolute boss. However, if anything goes wrong, the buck stops with you

As mentioned, corporations often have substantial tax advantages. An Inc. or LLC after your business name also gives your business added legitimacy and helps it raise or borrow capital. Frankly, sometimes the liability protection is a big deal, and sometimes it’s not. And from an operation standpoint, corporations are always unwieldy.

Trusts are never one-size-fits-all, and the process of setting one up can get complicated. A skilled attorney will give you advice about things like what or who to put in the trust, and what or who to keep out.

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