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Setting up a business?

Updated: Sep 11, 2018

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If you considering starting a business or incorporation one you already have, it is important to select the right business entity. If you have questions about which way to go, it’s a really good idea to talk to a legal pro.

For a free consultation contact Gordon Business Law

Why is your business structure important?

Not all business are created equal. In fact, each structure has definite advantages and disadvantages. Some questions to ask yourself right off the bat are:

  • How liquid do I want or need ownership of my business to be?

  • How important is protecting myself from personal liability?

  • Which structure will give me the best tax treatment?

  • Which is the best structure for attracting and retaining employees?

Different business structures can require more work to stay compliant, too, so you definitely want to make an informed decision. A good way to make sure you’re 100% informed is by pinging your friendly neighborhood accountant.

What are your options?

The main types of business structures are:

  • Sole Proprietorship

  • Partnership

  • Limited Liability Company (LLC)

  • S corporation

  • C corporation

To learn more, and for a free consultation contact Gordon Business Law

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