“Good fortune is what happens when opportunity meets planning.”

— Thomas Edison

Business Formation

When you plan to start a business, you must carefully weigh the advantages and disadvantages of each business form.

  • Sole Proprietorship
  • Partnership
  • Limited Liability Company (LLC)
  • S Corporation
  • C Corporation

You need the advice of Schwartz Manes Ruby to make sure your business form is right for you.

Back to General Business

Mergers, Acquisitions, and Dispositions

One way to expand your business is to combine it with another business.  You may want to take over another business (acquisition), or you may choose to combine your business with another one (merger).  Each of these options has its own legal considerations.

You need the qualified guidance of Schwartz Manes Ruby to explain your options and opportunities so you achieve your goals.

Back to General Business

Business Tax Planning

The following considerations all come into play when planning for taxes:

  • The business structure: Should you incorporate?  Which business entity should you choose?  You need to consider the many tax concerns for both individuals and small firms to ensure your company is structured advantageously.
  • The form of your business: Should it be a sole proprietorship, a partnership, a Limited Liability Company (LLC), an S corporation, or a C corporation?  Each form has its own effect on your business and individual taxes.
  • Deductions:  You need to ensure that you are able to take all available deductions.
  • Audits: You need to be prepared for audits by making sure you are maintaining and storing all appropriate records.
  • Employee taxes: You will need to make and report payroll deductions properly, as well as account for Social Security, Medicare, and other taxes.
  • Personal taxes: As a business owner, you must also consider ways to ensure that your personal tax liability is not excessive.

Back to General Business

Business Succession Planning

After spending time and effort building a successful and unique business, you want to be sure that the business will continue to succeed and grow when you are ready to turn it over to someone else.  You may want to turn it over to the next generation in your family, or you may want it to be run by one or more trusted employees. 

The key to ensuring a successful transfer is to have a solid business succession plan. With our help, you can have confidence that the succession plan will minimize the tax consequences to you and be designed to help new owner succeed.

Back to General Business

Trade Secrets

Many companies have trade secrets which are highly valuable because they provide an advantage over the competition.  Trade secrets can take many forms, such as formulas, devices, techniques, or processes.  If you do not protect your trade secrets, you can lose an important advantage, and protection requires that you know the legal ins-and-outs, such as the following:

  • How to determine whether something is a trade secret
  • How to legally mark and register something as a trade secret
  • What the law does to protect trade secrets
  • How to decide whether to patent something or just keep it as a trade secret

The attorneys at Schwartz Manes Ruby understand the local and federal laws involving trade secrets and can assist you in protecting your intellectual property.

Back to General Business

Call our office at (513) 579-1414 or contact us online today to help with any general business issue.