Should I Form an LLC, S-Corp, or C-Corp?
The Risks of Not Incorporating
- A business entity acts as a shield for your assets, formally separating your personal and professional life.
- The relatively minimal cost of creating a business entity certainly outweighs the risk of operating a business without these important protections.
- By creating a business entity, you’ll be able to sleep well at night knowing you and your family’s personal assets are protected.
Which type of entity is right for my business?
Consider an LLC if:
Benefits of an LLC include:
- Inexpensive filing fee
- simple annual state compliance requirements
- minimal record-keeping
- non-burdensome taxation rules
Consider a Corporation if:
Benefits of an S-Corp or C-Corp include:
- After forming a corporation, you can sell stock or even give it away to employees as compensation.
- Avoid double taxation
- Protection from liability
- More room for investors
Business and corporate law is a broad practice that involves everything related to the creation, operation, and sale of a business
Online companies like LegalZoom.com and RocketLawyer.com provide business formation services in each state; however, pulling back the curtain of these online juggernauts reveals two secrets you don’t often hear. First, the business formation services you pay for are typically a form driven, one-size-fits-all approach. Second, the legal work is often farmed out to a law firm that’s the “lowest bidder.”
Every business is unique. Churning out a form for each and every new business doesn’t adequately account for your needs. What happens if you, as a business owner, become disabled? Would you want your family to inherit your ownership, or would you want your ownership to pass to someone else? If you get into a dispute with your business partner, how would you want your ownership interest to be valued? Answers to these questions—any many more—are unique to every business. The form-driven approach used by the online companies glosses over these important topics in favor of a universal solution that often results in disaster. Our business formation prices are competitive with other services offered online, and we offer a free 1-hour consultation to learn about your business needs before getting to work.
Verbal contracts are enforceable, but without a written contract you risk creating a “he said/she said” argument in the future. On the other hand, lengthy written contracts can “go too far”—there’s a secret in the legal industry that no one will tell you: lawyers make contracts overly complex to make sure you need to pay a lawyer to interpret them. Weaver, Bennett & Bland bucks this trend by drafting solid contracts in plain language. Whether it’s drafting your contracts or reviewing contracts that someone has presented to you, having a skilled lawyer in your corner protects you and your business.
Forming new business entities, such as LLCs, S-Corporations, and C-Corporations
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Why Choose Weaver, Bennett and Bland
Our firm has been serving families in Matthews are the surrounding communities of greater Charlotte for close to four decades. As one of the region’s most trusted firms, our clients work with knowledgable and experienced attorneys who are willing to fight for your interests. We understand the sensitive nature of family law, which is why we bring compassion and professionalism to the table for each case.
Our extensive courtroom experience has led to victories in some of the highest conflict cases and our mediation and negotiation skills have led to a settlement before a trial was needed. We believe settlements are in the best interest of all parties, especially when children are involved.
If you’re looking for an attorney with tenacity and a willingness to battle for your cause, then contact us directly to schedule a consultation.
- South Charlotte
- Matthews, NC
- Mint Hill, NC
- Western Union County
- Waxhall, NC
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