Most people dream of the day when they can stop working for other people and create their own business. But once you finally get to that point in your life, the decisions that need to be made and steps that need to be taken can be overwhelming. You want to make sure that you do everything right to protect yourself from liability while still putting yourself in the best possible position in terms of tax benefits, and if you have partners or shareholders then you want to make sure that you do right by them as well. The best way to address all of the various legal questions involved with business entity formation is to start out on the right foot and get help from an attorney who has training and knowledge in the field. One call to Erik B. Jensen Attorneys at Law will get you an appointment with a professional who can guide you through the process, advising you of the many options available to you, as well as the advantages and disadvantages of each.

There are four main considerations that need to be taken into account when determining what kind of business entity you want to establish your business as. The first and most important is liability – you want to make sure that you have taken all the right steps to protect you and any other owners. You also are naturally interested in getting as many tax benefits as possible, and want to give consideration to issues such as future ownership, capitalization and management structure. The business entity formation options that are most popular include:

• Sole Proprietor
• General Partnership
• Limited Partnership
• Limited Liability Partnership
• Limited Liability Company
• Corporation
• S-Corporation

If you have done any research into these topics, you may be considering taking care of creating the new business entity on your own, without the help of an attorney. At Erik B. Jensen Attorneys at Law, we strongly suggest that you take the time and make the investment into your business’ future health by consulting with us. Every business is different, and there are issues that our experienced attorneys may be able to see or anticipate about your organization that may not have occurred to you on your own. There are important legal consequences to each selection and decision that you make, and it is smart to make sure that you understand each of these consequences before making a mistake that might end up costing you far more money in the long run.

In addition to providing you with assistance regarding your business entity formation, the lawyers at Erik B. Jensen Attorneys at Law are able to provide you with legal advice regarding small business contracts, partnership arrangements, intellectual property issues, and other legal problems that you may not have expected. Call our office today and start your business off on the right foot.

Learn more about Business Entity Formation HERE.