The way a business is structured is very important, as business formation determines to what types of taxes a company may be subject. Understanding all the intricacies of the law and how to take advantage of the tax benefits and allowances within the law can be complicated. However, if you do not seek help to understand this when you start a business, your company and your personal assets may be left unprotected. 

How an Austin Business Formation Lawyer Can Help You Understand Asset Protection 

There are many types of businesses, and choosing a specific business entity—such as an LLC, partnership, corporation, or nonprofit—can financially impact you for the better or worse. When you start your business, selecting the best business structure for your needs is critical to:

  • Verify the kind of taxes to which your business is subject
  • Determine the rate at which your business will be taxed
  • Take advantage of allowances within state and federal laws
  • Limit the legal liability to which your business may be exposed

At the Posey Law Firm, our Texas business lawyers discuss with each client how forming a business can impact one’s income taxes. We understand that there are risks when starting a new business, and we want our clients to know what those risks are when determining the right business structure. 

We can help you decrease your tax liability by advising new business owners on the correct choice of entity, to ensure your business begins correctly. Doing this will strengthen the company and increase profits. By choosing the right business entity, you can protect your personal finances by separating them from the business. 

Our lawyers have years of experience in business formation. We can help you make decisions that will positively affect you, your finances, and your business. Whether you are considering an Internet-based business, LLC, partnership, corporation, or another type of business, we can help you.

Call one of our knowledgeable Austin business attorneys for your business formation needs at the Posey Law Firm today for a complimentary consultation. Our toll-free number is 888.269.1962, or you can call us locally at 512-646-0828.