4 Critical Questions! To A Proper Business Foundation

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As you’re looking to form your first company, having a clear understanding of these 4 critical components makes all the difference in the world when it comes to protecting your assets and giving you a solid foundation to build on.

Question 1 of 4

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Question 1 of 4
Which of the following tax structures makes the most sense for your specific situation?
  • Sole proprietorship
  • Partnership
  • Subchapter S corp
  • C corp

Question 2 of 4

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Question 2 of 4
Which LLC Management Structure makes the most sense for your specific situation and compliance with your state laws?
  • Manager Management
  • Member Management
  • Board of Governor Management

Question 3 of 4

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Question 3 of 4
If you have personal assets already, which of these completely protects you from potential risk?
  • LLC
  • S Corp
  • C Corp
  • Limited Partnership
  • None of the above

Question 4 of 4

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Question 4 of 4
Which ongoing filings and documentation are necessary to maintain your business’ asset protection?
  • An annual report is mandatory in almost every state and many states also require a filing fee.
  • Foreign report filings and fees are also required for other states you are doing business in.
  • Annual meeting minutes are to be recorded and added to your company record book.
  • A register of officers, managers and members, including current addresses must be kept in the company record book at all times.
  • Reviewing and approving the actions of the officers and managers must be done, at least annually.
  • Changes to your company’s Operating Agreement should be documented and added to your company record book.
  • ALL of the above and then some, depending on the specific laws of your state!

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