If you are considering starting a business in Waco, Texas or the surrounding areas, there are numerous issues which must be settled before you begin. The first detail to resolve is the type of organization you will form. There are various types of business structures and each one has specific benefits and drawbacks. We work with you to evaluate what structure best suits your needs and provide counsel along the way.
TAX CONSIDERATIONS FOR BUSINESSES
How a business is taxed has a lot to do with how it is structured. For example, a C Corporation is subject to double taxation while an S Corporation is taxed as personal income. Our goal is easy: we’ll discuss your options, your goals for the future, and help you reach a decision that works for you. We understand Texas business law and have sufficient experience dealing with business formation to help guide you to a successful future for your business.
PERSONAL LIABILITY ISSUES
Anyone considering forming a business has to think about the risk to their personal assets. If your business venture falls on hard times, you want to protect your personal assets, including your home, savings and pension plans. While thinking about a business failing before it’s even started may seem unusual, it can be very important to your future. We will be happy to review your current financial picture and help you evaluate the risks associated with your business. We understand having the right information at hand can help you make better decisions for your future.
Whether you are just getting started or your business exists already as a sole proprietorship, it may be a good idea to look at the legal and tax challenges you could be facing as your business thrives. We are happy to work with you to ensure that as your business grows your family is protected from future liabilities. Contact Krasienko Law Firm today and schedule a consultation.