Business Formation

A Helpful Attorney Guides You Through Business Formation Issues

Launching a new company is an incredibly exciting—and nerve-wracking—experience. As you move ahead with your new business idea, it’s important to work with a skilled attorney who understands your needs and concerns, and who provides counsel based on your goals and the nature of your business.

My name is Nicole James, and I’m here to help you navigate the logistics of starting a company, including contracts, commercial leases and choosing the right business entity. I take a personal interest in each of my clients, delivering sound legal guidance tailored to you and your growing business.

Guiding you through business formation

There are four main ways in which you can form a business, and each one has different flow-through and tax implications. While it is possible to change your business formation later on, it’s best to make the right decision at the start to avoid unnecessary complications in the future. The following are the four main options:

  • Sole proprietorship: This is the simplest type of business, as there is just a single owner, who either operates under his/her own name or applies for a “doing-business-as” name. However, the business and the owner are a single entity, and the owner’s assets may be drawn on to cover business debt.
  • Limited liability company (LLC): These companies offer their owners a limited amount of liability protection, with the LLC responsible for debt rather than the individual owners—who are known as members. Profits and losses then move through the business to the members, who may choose between being taxed like a partnership or corporation. 
  • Partnership: When there are two or more owners of a company, a good option may be to form a partnership. The partners typically draw up and sign a partnership agreement, and profits and losses flow through to each owner individually. The owners must also file a partnership information return with the IRS on an annual basis.
  • Corporation: To form a corporation, business owners must file official articles of incorporation with their state. Owners may choose between form as a C corp or an S corp, which are taxed differently—so it’s wise to consult a business attorney to find out the best option for your situation. Both types of corporations must file corporate tax returns, hold yearly meetings and file annual reports.

It’s important to note that while choosing the right business entity is important, it’s really on the beginning of the legal issues you need to address when starting a business. To that end, I also assist with the following:

  • Commercial leases
  • Contract review & negotiations
  • Employment agreements
  • Business licenses

Work with a skilled Boston area business formation lawyer

If you could use sound legal guidance when starting a new business, turn to the Law Office of Nicole James. With offices in Waltham and Weston, I offer dependable assistance to entrepreneurs and business owners throughout the Boston area. To learn more, call 617-213-5003 or contact me online.

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