LLCs & Corporations in Plano, TX
If you are an emerging business person or entrepreneur in Plano, you need an experienced attorney to assist you in establishing your LLC or corporation. The Law Offices of John F. Williams, Jr. has the knowledge and expertise to assist you in protecting your business assets and shield you from personal liability. The biggest mistake new businesses make is trying to cut corners by doing legal filings on their own. Don’t fall into the DIY trap. LLC and corporation filings can have a lasting impact on your business if done incorrectly. Start your business out with a solid legal foundation and call us today.
LLC or Corporation?
One of the most common questions when starting a new business deals with how to file. A limited liability company (LLC) is one of the most common choices for businesses. LLCs protect the owners from liabilities that could occur in the course of business. Another benefit of LLCs is the flexibility of structure and pass-through taxation. Pass-through taxation means taxes are not paid at the business level, but rather are reported on your personal tax return. Corporations (S-Corp or C-Corp) are a great option as well. S-Corps are pass-through tax entities, just like LLCs. C-Corps are taxed as separate entities, so any personal salaries taken from the C-Corp would be taxed again, resulting in double taxation. Depending on your particular business, one may be more preferential than the other. It is important that you speak to an attorney with a thorough understanding of LLCs and corporations before filing.
How Do I Get Started?
Think initially about what your business goals are, how you would like your business to be structured, and then type out a brief outline. Add questions that you may think about during this brainstorming process. Then research attorneys in your area that you believe have the experience you need regarding LLCs and corporations. The Law Offices of John F. Williams, Jr. are happy to help you in getting your business established. Come in for an initial consultation and we can talk through the best strategy for you.