Helping Businesses Start and Stay on the Right Course
The business structure that you choose for your company will affect how your leadership is structured, what powers each partner or executive has, how you report to the state and the taxes that you will pay. Working with an experienced Texas business law attorney is important to ensure that you understand your options and how each one could impact your business.
At the The Law Office of Kevin H. Berry, P.C., Kevin H. Berry combines a wealth of knowledge and experience in all aspects of business formation and business law with a commitment to provide each client with highly personalized service.
Determining the Best Entity for Your Business
Our firm has years of experience guiding entrepreneurs and investors in selecting the best structure to meet their business goals and aspirations as well as protecting them and their families in terms of proper tax planning. There are four basic organizational forms from which to choose, each with its own distinct advantages and potential disadvantages. They are:
Sole proprietorship: For individuals who are the only owner of a business and who will own all the assets, a sole proprietorship offers a simplified and less expensive business organization. There also is simplified tax reporting.
Partnership: General partnerships and limited partnerships involve two or more people. In a general partnership, the partners are all individually liable for claims against the business. In a limited partnership, at least one owner is considered a “general partner” who manages the business, while the limited partners may be mainly a source of funds.
Corporation: A business that is a separate entity from the individuals who launch it. In Texas, there are various types of corporations, which dictate how the business is taxed.
Limited liability company (LLC): A company that combines the characteristics of a partnership and a corporation. Members of an LLC are mostly protected from personal liability. An LLC provides great flexibility in how the business is structured and managed. It also presents options for how the business is taxed.
Let’s Work Together to Launch Your Business
Our extensive background in real estate law means we can help businesses of all sizes with commercial real estate transactions, lease agreements and more. Our firm also drafts corporate bylaws, reviews and drafts buy-sell agreements and assists with creating key operating documents such as company policies and employee handbooks.
Whether or not you have a firm grasp on the various types of business structures and why one may be better than the others for you, it is smart to consult with a knowledgeable business law attorney who can explain the differences between each and help you make the right decision. Call the The Law Office of Kevin H. Berry, P.C. at 210-802-2424 or use our online contact form to schedule a consultation.