Consider how you want your business to be organized. We recommend against being a "sole proprietor." These are the practical ways to set up your business:
- Shields owners' other assets from corporation debts
- Formal business structure with annual meetings, minutes, resolutions, etc.
- Income is taxed separately from owners.
Same as above, but income or loss is taxed directly to the owner(s). Some types of businesses may not qualify.
LIMITED LIABILITY COMPANY ("LLC")
- Shields owners' other assets from company debts
- Informal structure (with no annual meetings, minutes only if you want them, etc.)
- Income or loss taxed directly to owner(s)
ASK ABOUT PROFESSIONAL CORPORATIONS - - NON-PROFITS - - FOUNDATIONS - - TRANSFERS
- Advise you how to avoid legal problems
- Answer your questions about how the law affects your business
- Help you navigate the legal issues that confront your business
- Prepare legal documentation to protect your interests.
834 King Highway, Suite 110
Kalamazoo, MI 49001