Going into business without a plan is like going to war without ammunition. Good legal advice is part of any successful business plan. The choices you make when you start your business can literally make the difference between success and failure. The law firm of BuxmanKwitek, P.C. offers highly experienced attorneys to assist with your business plans.
Business Law: Frequently Asked Questions
Why should I incorporate my business or form a LLC?
Incorporating your business or forming a Limited Liability Company provides you with a number of advantages:
- By forming a distinct business entity you are able to protect your personal assets in the event of a judgment or claim against your business. The formation of a Corporation or LLC can effectively place a wall between your business and personal property in the event of litigation or collection efforts.
- The formation of a business entity is helpful from a tax standpoint. It demonstrates that you are in business to make a profit, instead of just pursuing a hobby. In turn, this makes it easier to deduct legitimate business expenses from your profits and lower your tax burden.
- The formation of a Corporation or LLC shows the public that you are serious about your business activities and generally demonstrates a professional attitude. It allows you to gain more business by making it clear that you are an independent contractor rather than an employee.
How much does it cost to form a corporation or LLC?
A total amount of cost involved in setting up a Corporation or LLC vary depending upon your unique individual circumstances. Generally, a one owner business entity can be formed for between $600 and $800 including filing fees. A business entity with multiple owners will generally require more time and effort, including the creation of a buy-sell agreement. This could increase the total cost to anywhere from $750 to $2,000 depending on your circumstances.
Why not simply incorporate myself online for less money?
The short answer is that we provide you with customized personal service and we stand behind our work. Online companies take a cookie cutter approach that may not be right for your unique situation. In addition, if problems arise or if you have questions, you won’t be calling some customer service number in Pakistan, we can meet with you in person or answer your questions directly by email or telephone.
What other business related survices do you provide?
In addition to forming Corporations and LLCs, we also provide registered agent services, contract drafting, contract review, asset protection strategies and just about any other business related legal service.