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Milwaukee Business Formation Attorney

Establishing & Managing a Business in Wisconsin

Creating a solid legal foundation for your business and determining which business entity provides the greatest benefits are essential to your success. At Heritage Law Office of Wisconsin, LLC, Brad Sarkauskas has over two decades of experience handling complex financial, business, and taxation issues. Our experience and legal insight allow us to provide unparalleled legal assistance as you begin on your new business venture. Call us today to learn about how we can be of assistance as you begin to put your business plan into action.

Providing Legal Assistance For New Business Formation

When you decide to start a business you must be prepared to handle any legal issue that may arise. Whether you choose to organize your business as a partnership or a traditional C-Corporation, you will be required to make important legal, taxation, and financial business decisions.

At Heritage Law Office of Wisconsin, LLC, our Milwaukee business lawyers can help you navigate any of the complex and sensitive legal matters that arise, including:

  • Business formation
  • Business licensing
  • Compliance with Wisconsin and federal regulations
  • Employer/employee matters
  • Partnership and/or shareholder agreements
  • Annual reporting requirements
  • Minimizing taxes on business profits
  • Franchise purchases
  • Navigating lawsuits and complaints
  • Business Contract, and more.

Choosing a Business Entity in Business Formation

Choosing a business entity will be one of the most important decisions you make as you build your business. Business entities can provide tax benefits, shield your personal assets from business liabilities, and possibly put more money in your pocket. It is important to determine the goals you wish to achieve with your business and choose an entity that helps you get there.

When you meet with our experienced Milwaukee business attorneys we will ask you a series of questions that are designed to help determine the entity that is the best fit for you. We will then explain your options and outline how your business would operate under the suggested structure.

Popular business entities include sole proprietorshipslimited liability company (LLCs), partnershipsC-Corporations, and S-Corporations. Each of these structures has distinct benefits and requirements.

Sole Proprietorship

Pros:

  • Easy to form and operate
  • You aren't required to file lengthy forms with the state
  • No complicated tax requirements; all profits and losses are reported on your personal return

Cons:

  • You are personally liable for any business problems and lawsuits
  • Minimal tax benefits
  • Limited to one owner
  • Self-employment tax

Limited Liability Corporation

Pros:

  • Multiple owners permitted
  • Your personal assets are protected from business liabilities
  • No complex recording or recordkeeping requirements
  • Paperwork required to form an LLC is limited
  • Can be taxed as a partnership if there are multiple members
  • No requirement to file additional tax returns for a single member LLC
  • Avoid expensive corporate taxes on the entity itself

Cons:

  • Additional expense to create
  • Self-employment tax
  • State filing requirements

Partnerships

Pros:

  • Limited paperwork and state filing required
  • No need to file additional tax returns
  • profits and losses can pass-through to your personal return
  • Relatively easy to form

Cons:

  • You are jointly and individually liable for your partners' behaviors and actions
  • You are individually liable for the partnership's debts and liabilities
  • Limited control over business decisions
  • Self-employment tax

C-Corporations

Pros:

  • Separate legal and taxable entity
  • You can avoid personally liable for business debts and liabilities
  • Possible tax breaks for corporations

Cons:

  • More complex filing requirements with the State of Wisconsin
  • Profits taxed twice - once at the corporate level, and then again on your personal return
  • Strict recordkeeping and reporting requirements

S-Corporations

Pros:

  • No taxes at the corporate level; profits pass-through to your personal return
  • You can avoid personally liable for business liabilities and debts

Cons:

  • Restrictions on the number and type of shareholders permitted
  • More complex formation and filing requirements with the State of Wisconsin
  • Strict recordkeeping and reporting requirements

Why Should I Hire a Business Formation Attorney?

Making the decision to start a business of your own is the first step in your new venture. Meeting with our experienced Wisconsin business law attorneys will allow you to take the next step toward achieving your goal. Starting a successful business requires detailed planning from the very start. Hiring an attorney to oversee your business formation will help to ensure:

  1. All forms are filed with the appropriate agencies in the allotted amount of time
  2. Licenses and contracts are executed properly to avoid future legal disputes
  3. The chosen business entity minimizes any future tax liabilities
  4. Your personal assets are protected from potential business losses and debts, and
  5. Your business is set up for success.

Businesses are complex entities and require attention to detail. Paying attention to all financial, legal, and taxation issues from the very start will help your business not only succeed but thrive. Many businesses fail because they get caught up in legal issues that could have been prevented with proper planning. Hiring an attorney to handle your business formation will help you avoid litigation and legal problems in the future.

Experienced Business Formation Lawyers in Milwaukee, WI

Do you want to be your own boss? Are you thinking about starting your own business? Call business formation attorney Brad Sarkauskas today to find out how he can help you achieve your dream of owning and operating your own business. Mr. Sarkauskas will help you navigate the complex business formation process, anticipate future legal issues, and minimize the tax liabilities your business may face. With his help, you can be the proud owner of a successful Wisconsin business. Call Heritage Law Offices of Wisconsin, LLC today at 414-253-8500 to schedule a time to learn more.

Contact Us Today

For a comprehensive plan that will meet your needs or the needs of a loved one, contact us today. We proudly provide legal advice to those in Milwaukee and surrounding communities.

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