Many different pathways lead people to the decision to start a small business or non-profit organization. For some, it is a lifelong dream. For others, an opportunity presents itself or unexpected circumstances make it a necessity. However, no matter what brought you to this point in your life, Harrison-Stein, PC is here to help guide you through the process.
Business Formation and Incorporation. Some businesses operate as sole proprietorships. However, most people find that there are many liability and tax reasons to set up a separate business entity or nonprofit organization. In the District of Columbia, there are a variety of different options:
The business structure that you choose will impact your tax exposure, financing options, paperwork requirements, and personal liability. So, it is critical to get sound advice from business counselors, attorneys, and accountants.
Business Licensing. Even after registering and filing all of the necessary paperwork to initially set up a business or nonprofit organization, numerous permits and licenses are typically required in any jurisdiction that an entity has sales, employees, or assets. Some of the more common requirements include:
A person or entity that fails to meet these legal and regulatory requirements can be subject to various fines, penalties, and other consequences including forced closure. However, our firm’s experienced and capable staff have been responsible for coaching and mentoring over one thousand aspiring entrepreneurs – offering the wise counsel and sound judgment required to successfully open and operate a new venture.