Start Up Business Plans Choosing Legal Structure

Before a business plan is presented to funders, they would like to see that at least some low cost steps have been taken by the founders. One of these is to choose a legal structure for the business and to incorporate it, a process which generally costs only hundreds of dollars.

There are three major issues to consider when choosing a legal structure: control, liability, and taxes. Different legal structures have pros and cons on these three issues and you must seek what you are comfortable with and what will work best for the business both now and throughout its projected growth. The major legal structures to consider are sole proprietorships, partnerships, limited partnerships, corporations, and S corporations.

Control

A sole proprietorship retains the greatest amount of control for the founder (100% of ownership control to be exact). Structures that allow for investors to take part mean an increasing loss of control from the founder. These include partnerships, corporations and S corporations. A limited partnership may be a good option for a founder who wants to retain control while bringing in outside investment. Limited partners (also called silent or sleeping partners) of the business have no say in how the business operates, while the general partners keep control.

Liability

It is important for a founder to discuss legal structures with a lawyer to understand their legal liability in various structures. Generally, as control is spread out from the owner, liability is also lowered. For example, a sole proprietorship has unlimited personal liability for the owner, as are partners in a partnership and general partners in a limited partnership. Limited partners are only liable to the extent of their investment and corporations and S corporations limit the liability of stockholders as well.

Taxes

A tax accountant should be consulted to determine the best legal structure for tax purposes. Although you may have no profits to be taxed in the early years of the company, you will eventually be concerned with limiting your tax liability. Corporations are the one legal structure that causes double taxation on profits. This means that corporate profits are first taxed at the corporate tax rate and then dividends to stockholders are taxed at the going dividend tax rate. In other structures, profits flow directly to the shareholders or owners and are taxed at the individual tax rates. This is the advantage of S corporations, as they limit liability like a corporation but do not incur double taxation.

Finding an Attorney

There are several things that you will want to look for when you are in the process of hiring an attorney. Depending on the circumstances of the situation, you will want to look for different types of lawyers. For example, if you are experiencing a personal injury of or family problem you will want to research personal injury and family law in St. Petersburg. By researching this, you will be able to better understand exactly the type of attorney that you need to hire. Research may seem a bit tedious at times, but it is certainly worth your time in the long run. You want to make sure that the attorney that you hire is someone that has a reputation of being honest and successful in your local area. Since working with the law is quite serious, you will want to be sure that the attorney that you hire informs you of all of your rights, and the overall procedures that will take place. If you are wondering about the background of an attorney, or interested in what they specialize in, you can usually look this information up online at his or her website.

You can also learn information by calling the attorney and scheduling an appointment to meet with him or her. This can be a great way to instantly learn about the values and background of an attorney. If someone in your family is suffering due to being hit by a drunk driver, then you will want to make sure that the attorney has a background in personal injury and family law in St. Petersburg. You should not be hesitant to ask the lawyer what he or she specializes in. Several attorneys have an area of focus and would be happy to tell you about the strengths and interests that they have in the law. This is a question that you should definitely ask an attorney before hiring them. You deserve to be represented in court by the most experienced and affordable attorney in your local area. However, before you can ensure that you are working with best attorney possible, it is vital that you make sure that the attorney that you hire specializes in the area that you will be working in.

For example, if you are planning on going through an accident recovery or even a divorce, you will want to be sure that the attorney that you hire has experience in personal injury and family law in St. Petersburg. A divorce can be a rough time for anyone. You will want to be sure that your attorney has experience so that they can help you every step along the way. This will help you ensure that you are getting the best type of emotional support, as well as legal support. You will also want to make sure that the attorney that you hire has successfully won cases involving personal injury and family law in St. Petersburg. Overall, you should feel very comfortable with your attorney.

personal injury and family law St. Petersburg

Acquire Great Legal Representation by Employing a Seasoned and Trustworthy Employment Lawyer

New York City is considered as the place of many opportunities; if you are motivated to reach your dreams and have the abilities, then you will absolutely succeed here. Beyond doubt, there is a whole lot of competition happening in this city. However, this doesn’t stop individuals from giving the best of their capabilities. Nevertheless in the Big Apple, lawsuits are common and present on a regular basis. One of these lawsuits incorporate employment matters. In scenarios like this, it is definitely important to employ an employment lawyer with a good reputation./p>

It is normal for large companies to secure their own lawyers. These lawyers will represent them in the court every time employment-related problems happen. Just like the companies, the law also says that it is employees? right to protect themselves during court proceedings. If you feel that your rights were violated by your company, then seek the advice of NYC employment lawyers immediately. Appropriate legal actions should be exerted immediately whenever a work-related concern occurs because there is a tendency you won’t win the case if you delay your actions.

People commit mistakes in thinking they only need employment attorneys at times when a lawsuit must be filed. People must bear in mind that submitting a lawsuit requires a lot of effort, finances and time. If you and your boss have some other possible options in fixing the matter without filing a lawsuit, then do it. It is much better that way than actual court proceedings. To make sure that you could benefit from the settlement, a employment lawyer NYC will be there for you throughout the entire ordeal.

If litigation is already inescapable, then ready yourself and be sure that an employment attorney is there to assist you. It is a truth that employment laws are complex and they change always. If you make one false move, then your chances in winning your case will drop. This is because there are loopholes and traps in legal matters. Bearing that in mind, you have to ensure that the lawyer you’re hiring is specializing in employment and civil litigation law. It is better to choose a skilled employment attorney NYC with a reputation of helping clients have advantageous outcomes.

Small businesses as well as non-profit organizations likewise decide to hire the services of Employment attorneys NYC simply because they posses extensive expertise with regards to employment laws. With their assistance, businessmen can feel protected as they adhere to New York?s employment policies. Regardless of the company?s size, they ought to meet the security standards and all the other employer responsibilities. Additionally, to make sure there are no violations of the employment laws, firms can also hire the services of employment attorneys to make a draft about the company regulations.

Perhaps, you do not know where to start. Well, you may start by giving NYC employment attorneys a call for legal appointment. When it comes to your legal problems, just inform them about your situation and they will do the rest. In order for you to meet your goals regarding this matter, the employment lawyer will be there for you to work on anything that needs to be accomplished.

In case you are encountering problems regarding Employment Attorneys, making your very own response for this is certainly a great thing you need to do. Rushing can provide you problems in the future because this can make you forget some essential information. If you work in a constant way, then you can get great results immediately. Check out http://www.youngandma.com to be more knowledgeable about Nyc Employment Lawyers.

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San Diego DUI Lawyer discusses proposed changes to DUI laws.

SAN DIEGO (Nov. 10, 2009) – Proposals by two San Francisco Bay Area legislators that would impose even harsher penalties against repeat drunken-driving offenders would be overkill, prominent local attorney Kerry Steigerwalt, owner of Pacific Law Center, told a television audience today. In an interview broadcast on KNSD, Channel 7/39, Steigerwalt said the criminal justice system and the state Department of Motor Vehicles already have measures in place to adequately punish repeat offenders. Steigerwalt was interviewed by KNSD reporter Gene Cubbison in the fallout of a highly publicized case in Northern California in which a Burlingame man still had a valid driver’s license when he was charged with his ninth DUI offense recently. State Senators Leland Yee and Jerry Hill told the San Mateo County Times that more laws are needed to automatically strip multiple offenders of their licenses. Steigerwalt told Cubbison that California already has some of the strictest laws in the country against repeat offenders and that judges and the DMV already can strip a repeat offender of their license for from three years to life. -There are adequate parameters in place within which to address the problem without getting into a 3-Strikes scenario,- said Steigerwalt. Steigerwalt, who has over three decades of criminal defense experience in San Diego County ranging from drunken driving to death penalty cases, said any new laws would be, at best, duplicative. -There would be constitutional challenges that would probably prevail,- he said. -Why should we spend this time imposing another law over one that already exists?-

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