When to Hire a Business Attorney for Registration of LLCshttps://toppinslawfirm.com/wp-content/themes/toppins/images/empty/thumbnail.jpg 150 150 Wasim Wasim https://secure.gravatar.com/avatar/9402f7ed21295a9145078a28c1b792c7?s=96&d=mm&r=g
One of the most precarious things to do in the United States, is to register a new company. As if putting together the initial startup capital was not hard enough, you will be required to understand the dynamics of registering the new company to get it up and running.
The first step towards registering your new company, is to first of all determine the structure on which the company will be run. You can choose to run the company as a sole proprietorship, a joint partnership with another party or register it as a limited liability company (LLC)
Although all these structures have their own perks, the LLC option is the most preferred in the United States. With the legal counsel of business attorneys, most people end up opting for the LLC option and it is easy to see why. Here are some of the many reasons why LLC Is the most preferred business structure in the United States;
1. There is no double taxation
Unlike the C-Corp business structure where the company and the owner of the company are both taxed separately, LLC is only taxed once just like in a sole proprietorship. This means that the tax burden is not too much on the owners of the LLC.
2. It is easy to effect changes
The other advantage of opting for LLC in a new company, is the fact that it is relatively easier to effect changes in the management and general organization of the company. It is easier to add new partners or sell equities in the company. The other structures of business make it relatively difficult to do this and have too many administrative restrictions.
3. Your personal assets can be protected
This by far is the most popular attribute of the LLC business structure. With LLC, the owners of the company can protect their personal assets such as cars, houses and other property against lawsuits which may be filed against the company in future. The LLC makes a provision for separation of personal assets and company assets which is always good for the owners of the company and their families.
4. It is easier to register a LLC
It is extremely fast and simple to register a LLC. The fees required to register such companies are also relatively low and one can register a company with as little as $100. Because of the fact that registering a LLC is simple and quick, some people choose to proceed with the process without the guidance of a business attorney and this ends up being their biggest undoing.
Irrespective of the size of the company that you are planning to register, you should always seek the services of a business attorney. Here are reasons why you should always hire a business attorney when registering a LLC;
A business attorney will advise on the assets to include in the LLC and what to protect
One of the most precarious parts of registering a LLC, is the declaration of the company assets and the personal assets which aren’t part of the LLC. Without the guidance of a good attorney, it is easy for an individual or a business owner to list personal assets as part of the company in a bid to increase the valuation of the company. Such mistakes can be very costly in the end.
The business attorney will help draft the tax forms to get your LLC up and running
Besides advising on the best business structure to employ for the new company which in this case is the LLC, a business attorney will help the new company to draft tax forms which are required to get the new company up and running. Without an attorney, it will be very difficult for new companies to draft these forms and chances are high these companies will get numerous visits by the IRS in the future.
The business attorney will help you handle the LLC contracts and the other corporate paperwork
All the LLCs in the United States are required to be governed by a well drafted contract which is required to be signed by all the investors before the company can be formed. This contract is referred to as the operating agreement and its drafting takes years of experience in the business law industry. You will therefore need a business attorney to help you with this step.
Let Toppins Law Firm help you find the best business attorney in Houston
If you are looking for the best business attorney to help you register a LLC in Houston, then look no further than Toppins Law Firm’s way. We have the best business attorneys who have more than 40 years of experience in the market and they will help you to quickly and effectively register your new LLC and start business as soon as possible.
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