Vital Step 1 to Protect Your Business in Uncertain Times
This is a stressful, scary time for everyone, and particularly business owners. Now is the perfect time to secure your business assets, protect both business and personal assets, and prepare your business for the future, whatever that might hold!
Four steps are vital to obtaining this level of security. The first is below. Watch your email for the next 3 Tuesdays for the rest.
Step 1: Form an entity
If you are a sole proprietor or general partnership, the law considers your business assets and personal assets to be one and the same. If your business falls behind on paying debtors, or a customer sues you, your personal assets are at risk.
When you form an entity and operate your business through that entity, your personal assets are sheltered from risks your business may encounter. Forming an LLC (Limited Liability Company) in Texas is simple and costs only $300 to file. See more at the Secretary of State website, or ask our attorneys about it!
When you form an LLC, you get:
- Protection of your personal assets
- Flexibility in how the company is structured and managed
- Flexibility in distribution of dividends
- Less paperwork and fewer formalities than other business entity types
- Likely tax savings if you claim S Corp status (I saved $16,000 the first year!)
Avoid scary attorney bills
with our up-front flat fees!
Ask us about flat fees for
LLC work!