Forming your business entity at Law Office of Dana Baker, PC is not one size fits all and is never handled in a vacuum. If you simply wanted one size fits all, you could use a document drafting service or online legal document website.
Before I form your entity, I get to know you, what’s important to you, what your business is going to do in the world and how you plan to exit it.
I ask you questions that will inform me of the best tax structure for your entity, how you own the entity and what happens to your business entity when you pass on or when you pass the company on to a new owner.
I ask you the questions so you do not worry that you don’t know the right questions to ask.
And then I discuss your options with you in a way that allows you to know you are making informed decisions about:
- Where to form your entity – Nevada, Delaware, Wyoming or your own home state are all options;
- What type of entity to form – LLC, S-Corporation, LLC taxed as an S-Corporation, Partnership, or C-Corporation are the most likely options we can consider;
- How to set up your bank accounts;
- How much and what type of insurance you need;
- Which agreements you need immediately and which can wait;
- What intellectual property to protect and whether you should own it in a separate entity from your operating assets;
- How to work with your CPA for maximum tax savings, and more.
Proper Planning Isn’t Reserved Just For Warren Buffett
Think about it this way – Warren Buffett doesn’t just turn to Charlie Munger (his personal business lawyer) for help incorporating his business entities. He turns to Charlie before entering into any business deal that will impact the bottom line.
That’s the type of relationship I have with my clients.
I see the formation of your business entity as just the beginning of a long-term relationship in which I become the trusted counselor you turn to for help with all of your business decisions.
Maintaining Your Business Entity – Ongoing Compliance, Strategy & So Much More
I don’t really like the word compliance because it seems to suggest that I am going to restrict you in some way – really it’s just the opposite.
Maintaining your business entity is about the “nutrients” of a business that is well cared for.
Through my membership programs, I take care of all the little details so you can stay creative and expansive.
At most business planning law firms the relationship ends when you sign your incorporation documents.
At Law Office of Dana Baker, PC, I see the signing your incorporation documents as only the beginning of my relationship with your business.
Over time, your business will change and grow; your ownership structure may change; and I know for sure that the law will change.
Your business documents must accommodate all of these changes to ensure your business is on track for growth and continued success.
If your business does not have annual meetings, maintain meeting minutes, have agreements in writing, or is not properly updated and maintained over time, your legal documents become worthless – worth no more than the paper they were printed on.
And the costs of failing to update your legal documents regularly are typically far greater than the cost of keeping everything current.
To help you make sure your entity is maintained properly, through my membership programs I offer ongoing strategic and tactical support to ensure your business has the continued foundation necessary for growth.
The membership programs are designed so I can proactively monitor the activities of your business on a weekly, monthly or quarterly basis.
By doing this, I can stay on top of your business’ legal, insurance, financial and tax details so you can relax and be more creative, be more expansive and live more into the possibilities for your business knowing everything else is handled.
For more information about my unique membership programs, schedule your LIFT Your Life And Business Planning Session online.