California Business Formation Attorney
You could be a budding entrepreneur mulling that first solo business venture or a seasoned businessperson plotting the next successful business start-up. Which of the many kinds of business entities will be the right one for you? Your business entity formation decision can affect personal liability, tax consequences, and profit margin. You would do well to contact our business formation and succession lawyer at Gerald L. Kane & Associates in Encino. We've served Southern California with distinction for 15 years.
Small Business Formation
You can count on us to be constantly looking at your "bottom line" and emphasizing the importance of asset protection. We will work long, hard, and closely with you, your accountant, or any other financial advisors to arrive at clear objectives and the best choice of entity to meet your business goals. We will explain your options and the benefits and disadvantages of each.
Just as we do in the areas of wills and probate, we believe that the right choice of entity and planning for your business can serve as a primary method of avoiding or limiting future litigation. Litigation, win or lose, can be an expensive proposition and one to be avoided through techniques of preventive law.
Our skilled business entity formation lawyer guides you through the necessary paperwork and addresses shareholder agreements, buy-sell agreements, partnership agreements, and these business entity considerations:
- Incorporation
- Limited Liability Company (LLC)
- Limited Liability Partnership (LLP)
- Professional Corporation (PC) or Professional Association (PA)
- Sole proprietorship
- General partnership
- C Corporations and S Corporations
The Pros and Cons of C Corporations and S Corporations
A C corporation is what most people consider to be a standard corporation. A C corporation is a separate legal entity, and has the right to hire employees, buy property, and function like a standard corporation. An advantage of the C corporation is owned is that its stockholders have limited liability. However, a disadvantage to the C corporation is in regards to taxation. Both the corporation, and the dividends paid to stockholders are taxed.
An S corporation avoids the “double taxation” of a C corporation, but there are a number of rules that must be followed before a corporation can become an S corporation. For instance, an S corporation can have no more than 75 shareholders, and each shareholder must be an individual who is either a United States citizen or a Permanent Resident Alien. Let our team at the law office of Gerald L. Kane & Associates help you decide what business entity works best for you.
Contact Our Law Offices
Our outstanding business formation and estate planning lawyer would welcome the opportunity to speak with you about your needs. We've been serving citizens in Encino, Los Angeles County, and the San Fernando Valley with timely business formation and estate planning help for 15 years.
Call, fax, or e-mail Gerald L. Kane & Associates today to set up your free initial consultation. Weeknight and Saturday appointment times are available. We look forward to working with you as you start your new business.
