For entrepreneurs, starting a new business is one of the most exciting things you can do. Before you get too carried away with logos and material pricing, you must set a solid foundation for your brand to stand on. Setting up your business properly can ensure you receive the most favorable conditions for taxes and protect your personal assets should anything happen. Crow Estate Planning & Probate’s business planning attorneys know exactly how to help.
Business planning and company formation can open up a world of new information for first-time business owners. At Crow Estate Planning & Probate, our business planning attorneys are prepared to establish your business and stand by your side from formation to dissolution.
A sole proprietorship is considered the simplest way to establish a business in the United States. It identifies you as the exclusive owner of your company, merging your personal identity and business. You’ll file taxes once, representing yourself and your business interests simultaneously.
With a sole proprietorship, your name is also your business’s name. You can use a company name or a different name from your own to establish your brand, but you may need additional local permits to do so.
If you plan to start your business with someone else or multiple people, you may consider opening it under a partnership. The process of establishing a partnership is similar to that of a sole proprietorship, but all parties will be held equally liable for debts and taxes.
For entrepreneurs and shareholders concerned about facing personal liability for their business actions, a corporation may be the best way to go. Establishing a corporation is the most complex process of all, but in return, your business will become an entity entirely separate from yourself with the ability to:
When you establish a corporation, you’ll need to decide whether you want it to be a:
Limited liability companies, commonly known as LLCs, represent a middle ground between proprietorships and corporations. The establishment is similar to a proprietorship or partnership, but with a little more preparation, its owner and shareholders can enjoy similar liability protections as corporations. An LLC must be registered in its state of origin and often comes with some of the best tax benefits.
Some of the less common business types are limited partnerships and limited liability partnerships (LLPs). LLPs ensure that each partner’s liability is limited to themselves. Limited partnerships are a type of LLP that must have one general partner overseeing everything.
Any company you form requires extensive legal paperwork and a comprehensive knowledge of local business laws. If you’re establishing your brand in Tennessee or Kentucky, Crow Estate Planning & Probate can help you from start to finish. Our business startup attorneys have years of experience navigating state guidelines and ensuring your company adheres to all regulations.
Start your legacy today, and let Crow Estate Planning & Probate make sure everything goes according to plan. Schedule a free consultation with our business planning attorneys and see what we can do for you.
All the folks at Crow Estate Planning are super helpful and ready to assist in any way they can. I felt very comfortable and appreciated the knowledge and wisdom they provided in making important decisions.
Wessley was great. He answered all of our questions and took great care of 2 generations in my family. The turn around for completion was quicker than I thought. When we have needs in the future we will return to Crowe estate planning for assistance.
Very pleasant experience. Staff very friendly and professional.
Excellent Firm to do Business with.
Excellent service! Very nice, professional, and thorough. Highly recommend!
My wife and I needed to get our will in order. Kyle Shannon and his team were very professional and knowledgeable about our requirements. Our needs were met in a timely manner. We highly recommend this office.
John took time during our consultation to answer all our questions and provide us with information to help us make the best decisions. His office was responsive and flexible scheduling and rescheduling appointments for us and ensuring we had all we need to move from step to step.
Mr.Crow is a very trustworthy attorney that you can count on to gives you great advise, and direction to make the best decision for you
Very attentive. Made sure to clearly understand my needs and expectations for setting up my trust.
Mr. Shannon, there are no words to express my gratitude and appreciation for your professionalism, knowledge of law, and always having a direct and concise answer to any and all of my questions. You and your team did not fail me. You are truly a credit to your profession. Your mannerisms were beyond expectations! On a side notethe office building added a tint of charm to the time period. I was truly impressed! Thank you so much for your assistance and I wish you the best as you move forward through your law career.
Thomas Steelman 
John Crow 
Jonathon Garnett 
