A Nashville-Based Attorney Crafting Business Structure Strategies
One of the most important decisions entrepreneurs and business people make is determining what legal structure suits their needs best. This is a critical decision that can have far-reaching consequences ranging from the amount of taxes one pays, to limitations of personal liability, to changes in ownership interests and control of the business.
Entrepreneurs in Nashville and beyond turn to Kline Preston Law Group for deep insights and customized counsel when devising business structure strategies. Attorney Kline Preston has guided innumerable clients in Tennessee, throughout the United States and throughout the world as they faced the challenge of structuring their businesses effectively.
About Consequences Of A Business Structure
Many disputes and problems can be prevented by making the correct decisions in the form and structure of a business proactively.
As an example of such problems, if one chooses to do business as a general partnership (which Kline Preston would not advise), one would be taxed at one’s personal tax rate. There would also be no limitations of liability even for actions committed by one’s partners.
On the other hand, if one chooses a limited liability company (LLC) as one’s business structure, financing might prove difficult to agree on. What if one were to have to finance the company beyond their earlier expectations at a time when other members might not have the ability or desire to do so? Should one then have the same degree of ownership? Disagreements between members often arise in such situations.
The scenarios described above highlight examples of potential problems that can be avoided or predetermined through strategic structuring of a business. Making decisions appropriately is achievable with the guidance of an experienced attorney who has broad business experience.
Why Hire Lawyer Kline Preston?
Experience matters and can make a real difference in the development of a business. As an example, Kline Preston was dealing with issues involving LLCs in the Russian Federation and Ukraine well before such business structures existed in Tennessee. The Tennessee Legislature inaugurated the LLC by legislation in 1997. Kline Preston was ready to assist his business clients in Tennessee as well as nationwide and internationally with a high level of sophistication as a result of his experiences involving LLCs in Russia and Ukraine.
This is just one example of the many rewards Kline Preston’s experience holds for his clients. Discover what benefits he has to offer you during the structuring of your business. Call Call or send an email inquiry to schedule a consultation.