Chances are when you first began purchasing investment property or you started a small business, you did not give much thought to whether or not you needed to shield your personal assets or whether you should have had a formal business structure in place. However, as you’ve grown from having only one income producing property to several or your business has grown from a small business to a mid-sized business, you’ve realized you may need better asset protection. This is where you could use the assistance of a business attorney from the California firm of Alexander & Associates.
Business Formation Considerations
There are numerous options you can consider when determining which corporate structure works best for your business including partnerships, C-corporations, limited liability corporations and more. The structure you ultimately decide upon should take numerous factors into consideration including:
At Alexander & Associates, we’ll review these factors and numerous others and help you determine what structure works best to help you meet both your financial goals and help protect your business and personal assets as well as ensure you are getting the maximum tax benefits.
Ongoing Compliance is a Must
Once we have determined what business structure works best for your individual circumstances, there are other considerations which you must be aware of including ongoing compliance issues. Nearly all businesses will be required to file certain forms with the state and provide copies of annual meeting minutes and other corporate documents. At Alexander & Associates, we won’t expect you to handle these compliance issues alone, we can help you by providing and filing all the necessary documentation to ensure your business stays in compliance with local and state laws.
The structure of your business must be designed in a manner that helps protect you from a variety of problems including civil lawsuits, divorce and even death or incapacity of a business principal. Keep in mind, a lawsuit or a divorce could have dire financial consequences if you have not taken the steps necessary to protect your business. In addition, you may need to protect your personal assets from a suit filed against your business.
Regardless of how long you have been purchasing income producing property or running your business, contact Alexander & Associates at 858-373-5555 to discuss your business formation options and your ongoing compliance needs with an experienced business attorney.