Starting a business requires an appropriate structure to operate effectively and legally. Individuals or companies should adopt the business plan that makes the most sense for them, whether that is based on divergent tax policies or appropriate liability protection.
Choosing the right business structure is a necessary step in creating a successful, lucrative company, although oftentimes, it’s a step that gets overlooked. Several different business structures exist to provide a precise and dynamic legal fit for various companies. Additionally, your business’s structure influences everything from how much you pay in taxes and the kind of paperwork you must file, to your personal liability protections and ability to raise money. Below, we’ve outlined the four most common types of business formations and which ones work best for certain businesses.
One of the most critical decisions an entrepreneur makes in the early days of a new venture is related to business formation and taxation. Selecting the right business entity is essential to a company’s successful future and impacts how an organization is taxed. Determining the correct tax designation is equally as important as properly organizing a business’s structure because this designation directly affects how a company’s profits or losses are distributed. Learn more about some of the common misconceptions regarding S-corp and C-corp tax designations and how a business attorney from the Dallas law firm of Ritter Spencer PLLC can help your business thrive.
From minor internal concerns to major financial decisions, business owners tackle issues every day. However, entrepreneurs may not always be able to resolve more significant disputes internally. Certain situations may call for the assistance of a business litigation attorney to advise a company on a realistic strategy to resolve a disagreement. Alternative dispute resolution methods give businesses the ability to address a range of problems through a process that benefits all parties involved. Read below to learn if alternative dispute resolution is right for your business and how the Dallas law firm of Ritter Spencer PLLC can help.
As a business lawyer, I receive this question from time to time:
“I started a small business and sold investments in it to my friends or family. Now some of them want their investment back, but we are using the money for the business, and we are still building it up. They say if they don’t get the money back they will sue. I am in charge of the company and I am the only one who can run it. What do I do?”