Business Formation allows certain shields to be brought up to protect business owners from liability and from taxes. Whether you want to run your own sole proprietorship or set up a string of corporations and/or limited liability companies, there are deep considerations to think through before setting up your business. We have set up many small businesses over the years that successfully shield the owners from liability and taxes. Each contemplated business is unique and should be considered independently before creating its structure.
Setting Up Your Business
The process to set up a business entity is not onerous, but it must be well-thought out. To do it incorrectly may cost the owner in taxes or frustration down the road. It is important to consider a very broad range of scenarios as well as purposes of existing and operating a fictitious entity, like a corporation, limited liability company, various forms of partnership, and family businesses. On-line sources can provide some basic guidance, but if your business is important to you, make sure you give the creation of the entity the proper legal considerations.
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