business entity planning and administration

BUSINESS ATTORNEY

As an experienced business law attorney, Robert works with business owners to form, manage, and protect their businesses at every stage. Robert provides personalized, strategic guidance to help you choose the right entity structure that aligns with your goals, risk tolerances, and long-term plans. Each business structure has different tax implications and will affect your assets differently.

Our office will handle all aspects of business formation and administration, including drafting essential documents and ensuring proper compliance, allowing you to focus on running and growing your business with confidence. Robert has worked with many business owners across a wide range of industries including medical practices, law firms, tech startups and real estate companies.  

BUSINESS ENTITY SERVICES

When starting a new business, it’s important to choose the right entity structure for your business needs and financial goals.

The business structure you choose will impact your daily operations, tax liabilities and asset protection. Each business entity also has unique reporting and filing requirements. As an experienced business attorney, Robert will work with you to evaluate your situation and goals to help determine the right structure for your business.

We assist in drafting essential corporate formation documents including Articles of Incorporation, Corporate Bylaws and Initial Corporate Minutes. These documents are required to be compliant in your jurisdiction and are necessary for opening a bank account for your business.

We apply for an Employer Identification Number (EIN) with the IRS and register your business with the Secretary of State in the state where your business is incorporated.  

We ensure that the business remains in good standing and adheres to filing requirements set forth by the Secretary of State (e.g., California Statement for Information, Nevada Annual List, Florida Annual Report).

We provide payroll services for S-corporations, which are required by the IRS to pay their officers a wage. We do this by determining your monthly salary based on your estimated annual net income. At the end of each year, we perform an analysis of your payroll to determine if you need a bonus to reach your W-2 goal. In addition to running your monthly payroll, we remit all applicable payroll taxes to the taxing agency. As part of our payroll services, we also handle your federal and state quarterly and annual filings.

BUSINESS STRUCTURES

It’s important to choose the best entity structure for your business. Each entity structure has its own advantages and disadvantages. As an experienced business attorney, Robert can evaluate your business’ needs and help determine the correct entity structure.

You are the sole owner of an unincorporated business. Your business will be reported on your personal tax return (Form 1040, Schedule C).

Your business must file an annual informational return using Form 1065 to report on the business income and expenses that occurred throughout the year. The business does not pay income tax at the partnership level. Partners receive a Schedule K-1 with their share of income to report on their individual tax return. 

Your business will be required to file Form 1120 each year. Business income is taxed to the corporation when earned. Shareholders are also taxed on their share of dividends received from the corporation. 

By electing your business to be an S-corporation, the business’ income and expenses are passed on to the shareholders’ individual tax returns through a Schedule K-1. Your business will be required to file Form 1120-S.

Depending on your business goals and any elections made, an LLC will be taxable as either a corporation, partnership, or a disregarded entity (not considered separate from its owner). 

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Have any questions? Call the Law Offices of Robert E. Jeppson today at (530) 600-2338.

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