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January 20, 2021

Tag: Small Business

Forming a Georgia Business Entity

Friday, 15 November 2019 by Kara Lawrence

Once you have come up with a small business plan the next thing you should do is create your business entity. The Georgia Organizations Code governs all rules on business formation in Georgia. There are various different business entities a small business can form. Each has its own unique advantages and disadvantages for tax and liability purposes. Deciding which business entity is for your small business is a very important decision that carries legal implications. Make sure you speak with a small business lawyer so that they can explain to you all the possibilities. Make sure you choose the right business formation for your small business in Georgia.

Things to consider when forming a Business Entity

Liability:

If your company were to be sued do you know who would be liable? Would it be your company or would it be you personally? Depending on which business entity you choose your personal assets can be at risk for problems of the business. It’s important to select the correct business entity that protects and separates your assets and your personal liability. We will also explain to you how to keep good business methods so you don’t open yourself up to personal liability.

Tax implications:

When setting up your small business you need to think about how the company will handle federal taxes. Will it completely ignore taxes and pass it straight to the business owner? Will it pay the taxes on a corporate level? These are decisions that the business owner and our lawyers can help decide which is the best option for the growth and foundation of the business.  We work with various tax attorneys, accountants, and copyright & trademark attorneys that can also be made available to our clients, as needed.

Articles of Incorporation:

What are the rules and framework of the company? Who decides what course of action to take in certain situations? Will your company have multiple partners or members? What are the roles of each of those members? When forming your small business there will be a lot of decisions to make and establishing how your company will operate is one of the most essential parts of a business. Speaking with a small business lawyer can help you get all your ideas down on paper and keep your company safe.  If you are considering starting a small business or have already begun and want to get your business on track, contact us.

Call us at 678.324-8511;

E-mail us at Info@LawrenceLegal.Law; or 

Click here to schedule a consultation.

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Starting a Small Business

Tuesday, 12 November 2019 by Kara Lawrence

Starting your own small business can be a very exciting and nerve wracking journey. One must find the balance of conducting business and making sure you are protecting yourself and your company. Starting a small business should begin with a business plan. The plan should include the overview and purpose of the business. After you have created the plan the first step you should take is establishing your business entity.

FRAMEWORK FOR A SMALL BUSINESS

Establishing your business entity is one of the most important decisions you will make for your business. It will establish many aspect of the business such as taxation, liability, organization and who makes the decisions for the company. In Georgia the Business Organizations Code are the rules for starting a small business.

When you create your small business you will need to establish a legal presence with the Secretary of State or run the risks of personal liability. When starting a small business one should always lay out the groundwork for how the business is to be ran and who are the decision makers. Establishing a good framework can allow the business to grow easier and avoid legal complications.

We enjoy talking with new small business owners and trading ideas on how we can make your small business grow and stay protected at every turn.

We offer the Small Business Startup package which is great for new and starting business. Getting off to a good start is the best way to prevent future legal troubles. With our Small Business Startup package you can speak with us and discuss the best startup possibilities for your company.

Call us at 678.324-8511;

E-mail us at Info@LawrenceLegal.Law; or 

Click here to schedule a consultation.

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