Southern California Business Law Attorneys
Our Business Law department handles contracts, buy/sell agreements, lease agreements, partnership agreements, employment contracts, setting up Corporations, LLCs, negotiations, and various other business transactions. There are a myriad of problems a business may face, and the goal of our business law department is to foresee any potential problems and address such situations beforehand. Beyond this, our firm routinely handles civil litigation and business disputes. If you currently have a business dispute or simple questions regarding a business matter, our attorneys would be happy to answer your questions with a free telephone consultation.
Setting up a Corporation or an LLC
If you have a business or wish to start a business, either individually or in a partnership, you should consider creating a corporation or an LLC. The primary reason to create such a business entity is to provide you and your individual assets greater protection from liability. A corporation or an LLC is treated as a separate entity from you.
This means that if the entity has financial difficulties, outstanding lease or loan obligations, lawsuits or judgments filed against it, you can protect your own personal assets.
Corporations and LLC’s are two separate and distinct entities, each with their own tax filing requirements and maintenance costs within California. Small business corporations may elect to have their income treated as personal income so that they don’t face a double taxation. If they don’t make this election then earnings of the corporation or an LLC generally are taxed at a much lower rate than personal income, but once a withdrawal is made or compensation paid, additional taxes are levied.
The Werner Law Firm is dedicated to helping clients deal with business questions and concerns on a regular basis. We are happy to offer a free initial telephone consultation.