A 360-Degree Look at Business Structuring
If you’re in business for yourself, you need to be prepared to face a lawsuit.
- The year 2016 showed a 37% increase in ADA lawsuits. http://www.adatitleiii.com/2017/01/ada-title-iii-lawsuits-increase-by-37-percent-in-2016/
- The EEOC recorded 91,503 charges of workplace discrimination in 2016. https://www.eeoc.gov/eeoc/newsroom/release/1-18-17a.cfm
- There’s an alarmingly high 12% chance a small-medium sized business will be hit with an employment claim in 2017. http://www.insurancejournal.com/news/national/2015/10/28/386321.htm
Problem with a Business Lawsuit:
A lawsuit can completely wipe a small business out, and devastate the owner’s personal financial savings and security.
Business360Success recognizes the integrated complex and lawsuit heavy business environment in today’s markets, industries and economies. With business owner’s accumulation of labor, assets and resources comes greater responsibility, organization, and management.
Solution: Protection Through Strategic Business Structuring
One of the most powerful benefits of operating a business is legal entity structuring. Through legal entity structuring, business owners can maximize and optimize:
- Asset preservation
- Liability protection
- Tax savings
- Strategic planning
For those seeking the company of others in a common beneficial business goal, liability protection can be incorporated in a successful business model.
The business owner finds several solutions to everyday business needs by utilizing the benefits of the correct structure. Organizing the optimal entity like a corporation, limited liability company, and a multitude of other structures and processes for entities in any state from the simple structuring to large complex organized systems, can be the most efficient and effective means for business longevity, health and wealth.
Protection and preservation from losing the rewards earned from sweat, tears and hard work can be found in structuring your business ventures that are suitable, necessary and ordinary for the collective benefit of all parties driven to share your enterprising vision. This includes your business partners, clients who depend on the delivery of your products and services and ultimately, your own family and loved ones who shared in some way the sacrifices that were necessary to establish your business.
Benefits of Strategic Business Structuring:
When your business is strategically structured you can expect:
- Greater protection of your hard-earned personal assets in the event of a business lawsuit.
- Less chance that a business lawsuit could terminate your business.
- Reduced tax exposure.
- Greater peace of mind.
Please take a moment to review and reflect on your current business structure and it’s implications.
- How is your business is currently structured? Do you understand your business structure?
- Can you locate your business structure documents, and access the professional who executed the documents?
- Do your CPA and tax preparer have access to the most recent version of your business structure documents?
- When is the last time you reviewed your business structure?
- How are you maximizing the opportunities that come with an optimal business structure?