Starting a business in the Chicago area involves a lot of legal and financial issues. For example, should you start-up a limited liability company, or is it in your best interests to incorporate? How do you go about getting all the licenses, permits, and do you understand all the legal jargon in business forms and documents? You don’t have to know everything about starting and running a business, thanks to services from your local Algonquin business attorney. He or she can help you in many ways.
Understanding LLCs
An attorney can explain all about LLCs and their benefits. LLCs let new business owners protect themselves and their assets. Limited liability companies give you some of the benefits of partnerships, corporations, and sole ownership. When you use an Algonquin business attorney for setting up an LLC you can enjoy these benefits:
- Taxes – you don’t have to deal with corporate income taxes. In fact, you can use an individual tax return like most people.
- This is called pass-through tax benefits.
- Residency – there’s no need to be a United States citizen if you want to set up an LLC.
- Limited liability – this gives you a limited liability on your business related debts.
- Credibility – as a legal business entity, you have more credibility in the business community.
Legal Contracts
You may need to sign a number of legal agreements when you start a Chicago business. Most contracts have language that’s hard to understand, and your Algonquin business attorney is there to interpret this language for you. Your lawyer explains why you need or doesn’t need certain language and if a deal is good for you or not. Also, if someone you have an agreement with, reneges on the terms, your lawyer will help you take the best legal action to solve the issue.
Before you start your Chicago business, come see what at an Algonquin business attorney at Jackson Abdalla Law Group can do for you. Go to our home on the Web today at http://www.jalawgroup.com/ for more details.
