Yorkville Business Start-Up Attorney

 Posted on January 10, 2023 in Business Law

Creating a new business start-up is an exciting opportunity and an opportunity filled with significant legal and business risks. Attorney Sean Robertson is a serial entrepreneur, business attorney, and tax-planning attorney that is enthusiastic about helping new businesses succeed and avoids unnecessary mistakes. Building a successful business often requires trial and error. Trial and error can be minimized by surrounding oneself with experienced business advisors and tax professionals. 

Yorkville Start-Up Business Lawyer to Assist New Entrepreneurs and Business Owners

Business and start-up attorneys are important advisors for an entrepreneur and new business owners. Entrepreneurial clients are wise in surrounding themselves with well-qualified and experienced business advisors that can give them wise advice. Wisdom often comes from trial and error. A successful business attorney and client relationship will guide you and your business pioneer a path unchartered. Recessions and tough times are filled with opportunities and new beginnings.

Yorkville LLC Attorney to Assist Business Owners Incorporate and Set-up LLCs and Operating Agreements

A Yorkville LLC Lawyer assists small business owners and entrepreneurs incorporate and set-up Limited Liability Companies, Corporations, and Partnerships. Your Yorkville LLC Attorney also can assist you with creating joint ventures, adding new investors to your business enterprise, and setting up your business life and personal life for success. Forming a Limited Liability Company or otherwise known as an "LLC.” 

An LLC provides limited liability protection for its owners and investors. An LLC helps shield one's assets from business lawsuits and creditor concerns. Most new small businesses fail and setting up a business asset protection plan is wise at the beginning. Often, entrepreneurs and business owners succeed through trials and tribulations. Entrepreneurship is a long marathon, which requires luck and expertise.

There are two types of LLCs in Illinois. The first category of LLC is a manager-managed LLC. A manager-managed LLC is often used for family-owned businesses and multi-member LLC businesses. The advantage of manager-managed LLCs is the ability to maximize business liability protection and appoint managers that run the daily business operations. The second type of LLC is a single-member LLC. Multi-member LLCs are presumed to be taxed as "partnerships.” Multi-member LLCs may be taxed as corporations (S or C corporations) or as partnerships. There are significant advantages of being taxed as an S corporation for select business and professional enterprises.

A single-member LLC is owned by one person or one entity. A single-member LLC may be owned by a business entity such as a corporation or LLC. The default tax classification for a single-member LLC is being taxed as a "sole proprietorship.” A sole proprietorship is like an individual owning a business without any corporation or LLC entity structure. A single-member LLC is a hybrid arrangement because it provides a limited liability corporation and the flexibility of an individual business owner without any corporate or business structure. One of the benefits of hiring an experienced business and tax attorney is the best to get the best business and entrepreneurial training and guidance.

Your Yorkville LLC Attorney is Equipped to Assist You with Your LLC and Business Legal Needs

Gateville Law Firm is a boutique law firm that has considerable experience in business, asset protection, and tax planning legal expertise. Unlike most attorneys, Gateville Law Firm is comprised of entrepreneurs and attorneys with significant tax planning expertise. This business and tax planning background provides high-end and quality legal expertise with a small law firm approach. The business advice is critical because we are serial entrepreneurs that thoroughly under the perils and opportunities of business start-ups and entrepreneurial enterprises. Call us at 630-780-1034 and set up an initial consultation.