The choice of a business structure is important because it affects legal and taxation-related issues. It influences the manner in which you conduct operations and later on, business dissolution, transfer, or sale. It is, therefore, extremely important that you select the right type business entity for executing your business objectives alone or in partnership.

The Law Offices of Alex R. Hernandez Jr. counsel clients so that they can make an informed decision about the type of business entity to select for their venture.

For example, a sole proprietorship is a common business structure where the single owner owns the debts and credits. Income tax filing with this entity type is simple.

A partnership may be a general partnership, limited partnership, or a limited liability partnership. Each has its own salient features with respect to liabilities, assets, and tax filing.

Businesses or individuals can pool resources to form a corporation. The corporation may be an S type one where returns are filed to the Internal Revenue Service and are not under the jurisdiction of state corporate law. Business losses can be deducted from personal income tax returns. A C corporation requires that salaries and dividend distributed to the owners be taxed.

An LLC is another type of business entity with tax advantages like an S corporation but minus the rigidity of corporation laws.

Business entities law experts at the Law Offices of Alex R. Hernandez Jr. will help you set up the business right from the planning stage. Our knowledge of federal, state, and local laws related to setting up a business and complying with industry-specific regulations will save you time and money

Call Alex R. Hernandez Jr. to help you chose and form your business entity 888HDZLAW8.