SET UP & RESTRUCTURING
Setting up a corporation creates more credibility, legitimacy and professionalism to your business name by adding “Inc” or “LLC”. It protects your personal assets and there are definite, proven tax saving advantages and allows more financing options in the future. Both future business contacts, banks, creditors are willing to take a chance with an incorporated business vs a sole proprietor.
We consult with clients about the advantages of having corporations, if they have the appropriate type of company for their business and tax liabilities. It’s important to make sure clients have the right structure that is best suited for their business needs. We have seen over and over that many people have been taken advantage of by having the wrong type of corporation and potentially set up in the wrong state. These can create unnecessary penalties and the over-paying of taxes.
We will take the time to educate clients on the different forms of corporations such as: Limited Liability Companies (LLCs), C Corporations, S Corporations, Partnerships and Nonprofit entities. Other fiduciary arrangements for individuals and families can also be formed such as trusts, and those with estate planning needs.
There are quite a few applications that have to be submitted and approved in order to form a corporation. So, in addition to our expert advice, we can create corporations, make changes to existing entities or dissolve entities. This in-house service is invaluable to clients since we know their business, financial and tax history as well as future goals so are able to accurately advise as to the custom entity needed. This also saves clients from having to pay additional professional fees to attorneys or over-priced self-navigated website services that create entities that are inadvertently set up wrong.
We provide the Corporation Kit and Seal for your permanent records. This includes federal, state and city required forms including but not limited to: Verification of business name, Federal EIN Number, Secretary of State, Articles of Incorporation, corporate bylaws and Statement of Information. Most states like California require an annual update on the status of your corporation. We also provide this service known most commonly as Secretary of State filing.
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