Business Formation

Forming Your Business

Are you starting a new business in Virginia? You may have many questions about what you need to do to make the business legal, as well as what legal entity is the best choice in terms of reducing personal liability or what the tax consequences are for each option.

Choosing the right corporate entity can make all the difference and an experienced attorney and certified public accountant can help you make a choice that fits your business needs. From his office in Williamsburg, business partnerships attorney Paul S. Ward has been helping people plan for the future of their businesses for over two decades.

Selecting Your Business Entity

Paul S. Ward helps a variety of clients select and establish legal business entities for their business ventures. Attorney Ward can explain the different types of business entities, as well as the benefits and disadvantages of each, and help you select the entity best suited to your goals and objectives. The most common entities include:

  • An LLC is an informal way to organize your company while still receiving limited liability.
  • Corporations are more formal and complex but can offer greater tax benefits.
  • Partnerships and sole proprietorships are other options available to people starting businesses.

The business entity you choose for the formation of your business will impact your taxes and liability. As a certified public accountant (CPA), Paul S. Ward understands how different tax structures will affect your business. When you step into his office, you will meet with him directly. He will listen to your goals, help you understand your options, and work with you to tailor a plan to meet the needs of your business.

Business Reorganization and Succession Planning

Your business never stops growing. You are always looking for ways to run a more efficient business, well after your formation. Paul S. Ward can help you reconfigure your old business into a more effective corporate entity. He can also help your business with tax planning and shareholder agreements. If you want to pass your business on to your family, he can help you with business succession planning.