From Sole Propietorships and Partnerships to LLCs and Corporations, we can help you decide which entity is best for
your business. We can answer your questions about how to form and operate your business. More importantly, we
can answer the questions you did not know you needed to ask. For example, you probably knew that if an LLC has one
member it can usually be taxed as a sole propietorship. In that case the sole member just reports the income and losses
on the member's individual tax return. You probably also knew that an LLC with more than one member cannot be taxed as
a sole propietorship, but must choose C-Corporation, S-Corporation, or partnership status. But what about if the two
members are husband and wife who file jointly? Is there an exception for that kind of multi-member LLC? These are
the kinds of issues we anticipate and help you navigate as you create and operate your business.
Forming a business is easy. But operating that business so as to have the best result is another matter. If you have
questions, call us today.
We help our clients plan for, negotiate, and complete a purchase or sale of a business or its assets. We have aided clients
in purchasing businesses as diverse as preschools and medical practices. Often when buying or selling a small business,
especially if it is the first time, not knowing the right questions to ask can be devastating. Everything from sub-leases
to taxes should be carefully thought out and planned for. For instance, can you allocate the purchase price among the assets
so as to achieve a better tax result? Or, how should you structure a non-compete agreement with the other party? Or, How do I
purchase a business without acquiring its liabilities?
One of the most overlooked aspects of planning for the growth of your business is the exit strategy. We can help
you plan for the succession of your business. Often by the time it becomes vital that a good succession plan be in
place, it is too late to plan effectively. For instance, if you have a single member LLC, and that member dies, what
happens next? Can your heirs continue to operate the LLC?
