Читать книгу Go Legal Yourself! - Kelly Bagla - Страница 28

 When starting out, it is important to determine what form of business structure will work best for your specific situation. Choosing the best legal structure for your business requires knowledge of your line of work and understanding of local, state, and federal laws. The legal structure you choose for your business is one of the most important decisions you will make in your startup process. Your choice of structure can greatly affect the way you run your business, impacting everything from liability and taxes to control over the company.

 When deciding to set up a new entity for your startup, you should consider your startup's financial needs, risk, and the ability to grow. Take into consideration these factors when choosing the legal structure for your business and always consult with your accountant, as these structures have very different tax implications.

 Once your company is incorporated, the limited liability protection afforded by the incorporation process is NOT automatic, meaning once you incorporate your business, your personal assets are not automatically protected from lawsuits. Ninety percent of business owners think they can now enjoy the limited liability protection afforded to them by their incorporated entity. Incorporated entities do not automatically become barriers between your personal assets and your business assets whereby your personal assets are protected from lawsuits.