Business Planning – Keep your business interests first
Are you starting a business in Springfield, and working on your business plan? Did you remember the legal aspects of your business plan? How’s your exposure to risk? Do you know? These are the questions that need to be addressed in every business. Whether it’s a new business, or one that has been around for a while. Risk to your business, or to you personally because of your business, is not something to take lightly.
Should you Incorporate?
Incorporating your business gives you certain protections, and privileges. Helping you to protect your personal property is one of the benefits of incorporation. Also, it gives you the ability to deduct certain business expenses that otherwise would not be allowed without incorporation. We can guide you through the complex world of incorporation from the very beginning of the creation of the business plan to the re-thinking your security of an established business.
What about an LLC?
Forming an LLC, or Limited Liability Company, is a very viable option. LLCs can give you a host of benefits in a much easier form than other options. Record keeping is greatly reduced, filings can be easier, and flexibility of the structure are just a few considerations for an LLC, when setting up your Springfield Mo, business plan.
What about the possibility of being sued?
In our ever litigious society, if you don’t make your business plan with litigation in mind, you could find yourself in a very bad situation in the future. The Law Offices of BJ Richardson has the expertise to structure the legal aspects of your business plan in such a way that you will be protected from wrongful litigation. We take all aspects of your particular business and make a plan that fits you personally and professionally. This portion of your business plan is so critical that we feel you don’t even have a plan, unless litigation protection is addressed.
What about “Partners”?
Just because your business partner is your friend today, doesn’t mean they will be your friend when the going gets tough, or even when the going gets good. We can place a buy/sell agreement, into your business plan, that will protect both of you.
Let’s say you and your business partner get along great. Then they become incapacitated, or even pass on. Will you and your business partner’s spouse get along just as well? No one likes to think about it, but here at The Law Offices of BJ Richardson, we like to help you plan for it.
Who will get your portion?
There is also the thought of who you will leave your portion of the business to if you pass on. Make sure that your wishes are followed, when you are gone. Give your spouse peace of mind, knowing they won’t have to take your spot in the business, if they don’t want to. Including your wishes in your business plan shows everyone involved, that you are a savvy business person, with only the best of intentions for all involved.
You have invested everything you have into your business plan. The Law Offices of BJ Richardson want to make sure that it stays protected. From both the tax and non-tax sides of your situation, we can help you take care of all the legal aspects of your company.
Call The Law Offices of BJ Richardson today to schedule your free thirty minute consultation. Let us make your Springfield Mo, business plan bulletproof, and give you peace of mind.