This is the first post in a series which is meant to address the topic of starting a new business in Long Island or other New York areas. I am writing on this issue due to the fact that making mistakes early in the life of a company can have harsh consequences as time goes on. By handling matters properly, from the outset, the founders of a company can focus on the most important thing – their customers. Retaining an experienced business law attorney can greatly assist in making sure that your new venture gets off on the right foot. If you are in need of assistance then contact my office today to speak with a lawyer.
I will address a number of topics over my coming articles. Some of the matters which I will analyze include:
- Choosing the right business structure for a new company
- The tax consequences associated with various business entities
- Problems which may arise from choosing an inappropriate business structure
- How an attorney can assist you with forming your company
There are several reasons why I am choosing to address these topics. First, an entrepreneur’s choice of a business entity can impact their ability to raise capital, to shield themselves from liability, and more. Second, the choice of a business entity can greatly impact the tax obligations of both the company and its owners. Third, making a poor choice as to the business’ structure can result in ambiguity as to the rights and responsibilities of each owner. Finally, retaining experienced counsel can help you to ensure that your affairs are handled properly.
One point I cannot stress enough is that it is a good investment to discuss the formation of your new company with counsel. Many entrepreneurs or individuals starting a company do not wish to spend their time dealing with the legal process. Some may think that such matters are trivial and they wish to focus solely on their business. Not properly dealing with legal issues, however, can create problems which will get in the way of running the company. Counsel can help you to avoid such issues. As a Long Island business formation lawyer, I assist New York companies with starting a new venture. Call my office today to schedule an initial consultation. We also assist Kings County residents in Brooklyn, residents of Queens, those in Nassau and Suffolk Counties, as well as people in other New York areas.