LLC — S corp — C corp — Trust
Foundation — Partnership

If you’re getting down to business, then let’s get things started right.

Choosing the right structure for your business not only maximizes liability protection; but also sets the stage for great tax planning. Getting it correct, right out of the gate, avoids the hassle of unwinding a bad situation.

Hawkins Cloward & Simister’s Entity Formation Services guides you through the many questions surrounding setting up an entity:

• How much of the profits will you take as a subject to self-employment tax?
• How will you share ownership?
• How will the entity be funded?
• Who will personally guarantee that funding and what will be the tax consequence to them?

Let us help you choose the best type of entity for your specific purpose.

Hawkins Cloward & Simister Recommendations for Great Results:

• Involve your accountant early. Involving a knowledgeable accountant early secures the best results because your accountant gets to know your business from the start, and gets into position for better tax planning and consulting.

• Don’t wait too long. Many of the advantages of the entity you will form cannot be secured retroactively. If your business is rolling already, it’s time to talk.

• Involve your partners / shareholders. Make sure all stakeholders are on the same page. Often, it’s best to include them in our conversations.

• Choose the right method of accounting. Deciding to be cash-basis or accrual-basis, or a hybrid method, has a greater bearing on the timing of the tax you’ll pay than anything else.

• Select a good attorney. Complete your team. Over time we have observed that do-it-yourself options leave too much to chance.