Business Entities

How I Can Help the Needs of a Small Business

  1. Entity formation. I can help you decide whether a corporation or limited liability company (LLC) is the entity more suitable for your business and draft the necessary documents. I work closely with a business client’s accountant.
  2. Obtaining Tax Identification Number. Although your accountant will prepare and file your business tax returns, I obtain your federal tax identification number from the IRS (EIN) and file your S Corp election with the IRS (if appropriate).
  3. Registered agent services. State law requires that every entity have a registered agent, who cannot be the entity itself. The Registered Agent serves as the representative of the business entity for all communications with the Secretary of State. If someone sues the entity, the service of process is on the registered agent, rather than the entity itself (which could cause some potentially awkward or embarrassing situations).
  4. Coordination with Estate Planning. Often business owners overlook the big picture of how their business will affect their other assets. Planning must be done so that a law suit or financial problem with the business entity does not put your other assets at risk. Estate planning considerations need to be coordinated with your business planning. For example, usually the business owner’s interest in the corporation or LLC should be held by or assigned to their revocable living trust, so that upon their death their estate does not need to be probated. I can evaluate the various issues and concerns and propose and implement solutions for you.