Business formation is a necessary early step when starting a business, whether you’re registering a simple DBA, incorporating or forming a partnership. The way in which your business is formed will determine the personal liability of the founders, how taxes are paid, and other important details.
Clients have to form a legal structure for their business. Consultants advice on options such as sole proprietor, corporation, LLC, and the pros and cons of it. They also help with other accounts such as banking.
Choosing the appropriate legal entity, such as a corporation or limited liability company, will help the equity owners minimize or avoid personal liability arising out of the business. This separation of an individual from the business may also affect credit and protect personal assets.