The Right Entity
A successful business begins with its organization. The type of entity dictates how the company will be run, how decisions will be made, how it is managed, how taxes are paid, how the owners are compensated, and much more.
Get It Right the First Time
You want to get it right from the start – changing entities down the road can be challenging, time intensive, and expensive.
I have collaborated with entrepreneurs and new business owners for thirty years as a consultant and attorney. I know the stakes, I know you need to start right.
There are pros and cons with every type of organization. They can only be considered in light of what the owner(s) want and need. Taxes, asset and liability protection, day-to-day operations, where they see the company in 5/10/20 years, exit strategies – are all factors that must be considered – first.
It is my mission to listen, advise, act and ensure the process is smooth, stress-free, and done right.
Too Many Choices
One of the reasons – perhaps the biggest one – that makes choosing an entity challenging is that a new business can take almost any form. There is no ‘your company will do this so it has to be a C-Corp’ guideline – unless yours is a professional company.
The right type of corporate organization should protect the owners’ personal assets. When you form a new company you are, in effect, creating a new “person” – one recognized as separate from you.
Form the company the right way while doing everything needed to support it are vital for the business’ success and to protect the owners.
There’s an art to forming a company, one where the design employs the ‘pros’ of the entity while minimizing the ‘cons.’
The types of entities include:
- Limited liability company (LLC)
- Limited liability partnership (LLP)
- Professional corporation (PC)
- Non-Profit corporation
- Sole proprietorship
Different entities mean different tax considerations. To form a company under any of these requires painstakingly adhering to Illinois laws, rules, regulations, and filing requirements. Failing this can have consequences and delay getting your business up and running.
Do It Right With The Law Office of George W. Svoboda
I will make certain that the owners receive all the benefits and protections they need and expect.
I opened the Law Office of George W. Svoboda to bring my thirty years’ experience to the business community. I understand the company formation process on an intellectual level and on a gut level.
My years as a management consultant gave me unique insight on how to streamline the formation process and remove the stress. I know what questions to ask and when. I know the pressures you feel trying to put a business together. I will coach you through it.
Once the company is officially up and running, we continue our business and legal partnership and keep it that way.