Two primary reasons why individuals form separate business entities are: (1) for tax purposes; and (2) for limited liability protection. While an accountant may assist you with the first reason, they are limited in their means to help you with the second. You will need an attorney to help you maintain your business's corporate formalities to protect your personal assets from your business ventures.
If your business does not maintain corporate formalities such as by complying with its bylaws, articles of incorporation, and/or operating agreement, the business owner is at risk of losing the business's limited liability protection. This means that the government and the business's creditors can potentially seize your personal assets. As we all know, businesses are inherently risky endeavors. Therefore, business owners should have an ongoing relationship with their attorney to take the necessary and precautionary steps to legally protect their personal and business assets.
Working with an attorney from the beginning and maintaining an ongoing relationship is critical. We can help you with forming an LLC, corporation, P.C. or other entity, submitting essential applications, and developing custom legal documents for your business needs.