Whether you are forming an entity such as an LLC through which you will purchase investment property or forming an S-Corp through which you will operate your new business, we can provide assistance at every step of the way.
Working closely with small business owners:
If you are an entrepreneur or have dreams of establishing your own business, how you start your journey can play an outsized role in where you end up. Choosing the right entity structure for your new or growing enterprise is one of the most impactful decisions you will make as a small business owner.
How you run your company, the relationship between you and any partners or co-owners, your tax obligations, and the vulnerability of your personal assets – these are just a few of the long-term implications of your entity selection. That is why it is critical that you get it right, and why you should have an experienced business attorney at your side to ensure that you do.
A Personal Approach to Business Formation:
At Maloney Law, LLC in Libertyville, we work with clients throughout Chicagoland to position them for success through selecting and establishing optimal business structures. We do so by developing a holistic view of each client and their business, as well as looking at their unique priorities, concerns, and goals.
Taking the time to explain options, answer questions, and provide guidance in clear, actionable terms, we see ourselves as trusted partners with our business clients. That includes being aware that the value of our services is not only in the quality of our counsel, but the efficiency and cost-effectiveness with which we provide it. While we will do everything needed to protect and advance your interests when establishing your business, we will do so with your bottom line always in mind.
Our business entity selection and formation services include the preparation and filing of all necessary documents such as articles of incorporation or organization, operating and partnership agreements, and assumed name registrations, as well as compliance with ongoing legal requirements such as the filing of annual reports.
Our lawyers have extensive experience in the formation of:
• Limited Liability Companies
• General Partnerships
• Limited Partnerships
• Non-profit Corporations
A Fundamental Choice:
For many Illinois small business owners, the choice of business entity often comes down to two options: an S-corporation (S-corp) or a limited liability company (LLC).
The fundamental reason most business owners or sole proprietors choose to establish an S-corp or LLC is to protect their personal assets from liabilities arising from their business activities and to keep those assets beyond the reach of business creditors. So long as the business owner conducts their affairs properly, follows required corporate formalities, and does not engage in fraudulent conduct, either entity type can accomplish this objective and provide owners with invaluable peace of mind.
Additionally, LLCs and S-corps provide tax advantages in that they are “pass-through” entities that allow owners to treat business income as personal income for tax purposes.
There are significant differences between these and other business entities, however, and determining which one is right for you is one of the ways Maloney Law helps entrepreneurs and business owners get to the next level.
Maloney Law, LLC: Setting You Up For Business Success:
If you are starting a business anywhere in Lake County, Cook County, or other collar county, we welcome the opportunity to assist you as you pursue your business dreams. Please give Maloney Law a call at (847) 247-2700 or contact us online to arrange for a personalized consultation.