Helping Pennsylvania Clients Choose the Business Entity That Will Best Promote Their Success
Choosing the right business entity during the formation of your company is vital to your business's future and profitability. Nevertheless, many new entrepreneurs don't appreciate the number of entity options available or the advantages and challenges of each. As a result, when choosing how to structure their companies, they often rely on advice from friends, articles on the Internet, or trends and gossip.
No business entity is the best choice for everyone. Choosing the right business entity depends on both a clear understanding of what each entity is intended to accomplish and a careful assessment of your individual goals.
To best advise you, your lawyer should have a clear understanding of what factors to consider during business formation. Ideally, he should also have the experience and insight to understand how each option could impact your company in the real world.
Attorney Rick Unger has more than 30 years of experience helping small business owners during business formation and advising them on contracts and business transactions
once they have going concerns. His impressive knowledge of business law and of Pennsylvania companies helps ensure that you receive the information and insight you need to make the best choice for your company.
The basic business entities include:
- Sole proprietorships
- Partnerships: including family limited partnerships, limited liability partnerships, general partnerships, etc.
- Corporations: C corporations, S corporations, professional corporations
- Limited liability companies (LLCs)
- Nonprofit
There may be several different types of business entities that can work for you, so it is important to carefully analyze which one will best meet your goals. Some questions to consider during initial business formation include:
- What types of asset protection do you need?
- How much personal risk are you willing to accept?
- What income tax consequences might you be facing if all the profits come directly to you?
- Are you looking to pass on the business to your family?
- How large do you anticipate your business growing?
- What is your management style?
After you have chosen the most advantageous business entity for your individual situation, Mr. Unger can assist you with the shareholder, partnership or LLC agreement and other aspects of business formation. He also assists existing companies during reorganization, business sale, and succession planning.
Contact Us
From initial business formation to the ultimate sale of your business, At The Law Office of Rick Unger, we build a long-lasting relationship with our clients. To discuss business formation with an experienced attorney, contact the Law Office of Rick Unger.
