Kaufman & Forman, P.C.
Call to arrange a consultation
678-957-7769 | 770-390-9200
Contact Us
practice areas

Helpful tips for new business owners and business organization

Business organization can be complicated in the state of Georgia, underlining the need for careful planning in the early stages of a new business. A business plan is essential to success, as is protecting the legal entity of a company. Qualified legal counsel can assist in business organization when it comes to matters such as partnerships, LLCs, sole proprietorship and tax structure.

Entrepreneurs launching a new business must be careful to follow any state and county restrictions and policies. A business organization must be registered with both the state and local authorities as well as decide on an adequate name for the company. Naming a new Georgia business can be difficult and the name should be legally protected as soon as possible. It is also important to consider business liability insurance coverage.

Tax structures may vary depending on the type and function of a new business. Entrepreneurs launching a new business must register for a tax identification number. This must be done for the purposes of both federal and state taxes. Close examination of tax and business law may help determine the best way to legally identify a company when filing for tax identification.

The point of any business organization is generally to make a profit, while at the same time following government regulations. Therefore, it is necessary to keep specific and accurate financial records. This makes it easier to determine the state of a business and can also simplify the process of paying taxes on the new business. Keeping personal and business bank accounts separate is crucial and new business accounts may be opened as early as possible.

Source: onlineathens.com, "Murray: Quick tips for starting your own business," Katie Murray, May 25, 2013

No Comments

Leave a comment
Comment Information

Contact Kaufman & Forman, P.C. Now

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

get Legal Help Now

Kaufman & Forman, P.C.
8215 Roswell Road, Building 800
Atlanta, GA 30350

Toll Free: 800-461-5864
Phone: 678-957-7769
Fax: 770-395-6720
Atlanta Law Office Map

Review Us

Robert Kaufman has been selected as a 2013 Top Rated Lawyer in ‘Commercial Litigation’ as will be published in the May issue of The American Lawyer & Corporate Counsel magazine.Alex Kaufman has been selected as a 2013 Top Rated Lawyer in ‘Commercial Litigation’ as will be published in the December issue of The American Lawyer & Corporate Counsel magazine.

*AV Preeminent and BV Distinguished are certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the bar and the judiciary. Martindale-Hubbell ratings fall into two categories: legal ability and general ethical standards.