Basic Forms of Doing Business

The four most common forms for a business in California are: 1) sole proprietorship; 2) partnership; 3) corporation; and 4) limited liability company. Each form of business has its own unique advantages and disadvantages. For example, many new entrepreneurs choose to operate as a sole proprietorship or partnership because these forms are simple and inexpensive to set up. However, the entrepreneur is liable for all of the debts of the enterprise. We can provide the facts regarding entity formation so that you can make a well-informed decision as to how you will operate. Also, we can help with the many forms and filings required to set up a new business.

Taxes

Another consideration affecting the choice of entity is the tax consequences. Sole proprietorships and partnerships are pass-through entities in that all income and expenses related to the business are reflected on the owner(s) personal tax returns. Corporations, on the other hand, are separate entities and pay their own taxes. The limited liability company can be set up as either a pass-through entity or taxed as a corporation. Let us help you through the maze of tax implications resulting from how you set up your entity

Business Name

Once you decide to go into business, you have to choose its name. If you decide to operate under anything other than your legal name, you must file a fictitious name statement with the county in which you operate. A corporation or LLC must file its unique name with the Secretary of State. We can assist in deciding an appropriate name for your enterprise, do the research required to register that name, and handle the filings necessary before you can begin operations.

Financing Your Business

Financing a new or existing business is a major challenge for most entrepreneurs. Lenders require a myriad of information, both financial as well as personal. We can help you through the process.

Business Negotiations and Contract Disputes

Even the simplest transaction can have undesirable legal consequences if not done properly. We can assist in drafting and reviewing documents so that your interests are protected. And, if a dispute arises, we are experienced litigators and can handle the court process from start to finish.

Business Name

Once you decide to go into business, you have to choose its name. If you decide to operate under anything other than your legal name, you must file a fictitious name statement with the county in which you operate. A corporation or LLC must file its unique name with the Secretary of State. We can assist in deciding an appropriate name for your enterprise, do the research required to register that name, and handle the filings necessary before you can begin operations.

Credit and Collections

Most businesses extend some form of credit to their customers. And, not all customers pay as agreed. We can help with the collection process, so that you get paid. If a lawsuit is necessary, we can file and litigate your claim, and help you collect your judgment.