Starting a business takes drive, passion and a keen awareness of the relevant law. If you have questions about starting a business, contact our firm to schedule a consultation with an experienced attorney.
Business Formation Attorney in Springfield, Missouri
The decisions you make before your business ever opens its doors are the ones that can have the greatest impact on your prospects for success. To make your decisions the right decisions, rely on the experienced legal counsel and personal attention you'll find at The Piatchek Law Firm, LLC. When you hire us to help you set up or reorganize a business, we will start by learning as much as we can about you, about the nature of your business and about your immediate and long-term objectives. We will explain the key differences between possible options and the potential results of each. We want to make sure you are making truly informed decisions. After you choose how to proceed we provide all the services necessary to establish the type of entity you want in compliance with Missouri state law.
To learn more about business formation services or attorney Joseph J. Piatchek — call us at 417-882-5858 or contact us online. We offer free business formation consultations and are available for evening and weekend appointments.
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Whether you are planning to start a new business or reorganize an existing one, our law firm can provide the quality, affordable legal services you need to make that happen. For a free consultation about these issues in southwest Missouri, call or contact our Springfield law offices.
The Piatchek Law Firm, LLC offers dedicated personal attention and individualized business law services to clients in the Springfield area and throughout southwest Missouri. Contact us for a free consultation regarding your business needs today. Evening and weekend appointments are available upon request.
The Piatchek Law Firm, LLC would like to remind you that neither the Supreme Court of Missouri nor the Missouri Bar reviews or approves certifying organizations or specialist designations. Also, the choice of a lawyer is an important decision and should not be based solely upon advertisements.
Financing, Business Plans and Business Organizations
A prospective business owner will be concerned with financing the new business, setting up a business plan and choosing the best type of business organization. The options for pursuing ownership of a business vary widely. An attorney from The Piatchek Law Firm, LLC in Springfield, Missouri, can help you sort out these matters. The following synopsis will help you start thinking about the important decisions you will have to make.
Financing and the Development of a Business Plan
A potential new business owner must always be aware of the costs involved in starting a business. All startup costs and one-time expenses must be considered. The business owner will want to contact a financial institution or investors to obtain financing.
Typically, a business plan is required and includes the following:
- A description of the venture, including the primary features of the business
- What service or product the business will provide
- Research indicating that there is a need for the business
- A marketing plan that shows who the potential customers are and how they will be targeted
- A staffing plan showing how the business owner will run the business
- A management plan showing how the staff will be organized
- Financial plans including the costs of building, operating and maintaining the business and expected profits
What Is a Business?
The distinction between a business and a hobby is important for a variety of reasons, one of which is tax implications. Under the federal tax code, for example, business losses are generally tax deductible, whereas hobby losses are not.
A business is a commercial enterprise with an expectation of profit. In general, businesses are run in a continuous and systematic manner and are governed by commercial principles. These principles define the profitable purpose of the business. In comparison, a hobby is an activity that is carried on in a casual manner, with no real business purpose. A hobby is not solely focused on earning a profit; its purpose may simply be for the enjoyment of the hobbyist.
Business Organizations
A potential business owner should be aware of the options for structuring the business and the laws that will affect the organization. Armed with this knowledge, the potential business owner can determine the best choice. The help of an attorney can be extremely valuable in making this decision.
There are many forms of business organization. Most businesses, however, are well served by a variation of one of the four major organizational forms. These major forms include the sole proprietorship, the partnership, the limited liability company (LLC) and the corporation. Each form has specific advantages and pitfalls. A focus on personal liability and tax implications should guide the new business owner in his or her selection.
Contact an Attorney
Securing financing, building a business plan and choosing the correct business organization are important steps in starting a new business. An experienced attorney from The Piatchek Law Firm, LLC in Springfield, Missouri, can offer guidance and advice.
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