QUESTION

Q: Why is the entity structure you choose for your business so important?

— New Business Owner

ANSWER

A: Dear New,

The business entity structure you choose for your new company is of paramount importance. Indeed, your choice of business entity will affect everything from the amount of taxes you pay to the kind of records you keep and even how vulnerable your personal assets are to lawsuits and debt incurred by your business. 

Given how important your entity is, it’s crucial to consult with us before making a decision on your choice of entity. However, your choice of business entity is only one pillar of your company’s legal, insurance, financial, and tax (LIFT) foundation. You’ll also need to make certain your business has the right insurance, financial systems, and tax strategies. 

As a Family Business Lawyer™, we can support you in all of these areas, so contact us today to ensure your company has a legal foundation strong enough to withstand any liability your business might face.