business formation & planning Archives

What are the steps to form an LLC?

If you are starting a small business in New York, you may want to consider forming a limited liability company. An LLC may provide unique benefits, including limiting your personal liability for business debts. The process to form an LLC in New York is fairly simple, but there are specific steps you must follow.

Launching a business and the divorce process

The process of bringing a marriage to an end can be demanding for many reasons, especially for those who do not have very much free time or have concerns about the financial impact of divorce. For some entrepreneurs, approaching the end of their marriage can be very tough because they are also in the middle of launching a business. Not only do people often face financial hurdles while starting a business, but they may be under a great deal of pressure, which can place additional strain on their divorce.

Inexperience and business formation

Launching a business can be incredibly lucrative and it may be the first step toward a very bright future. However, this can also be a very difficult time in an entrepreneur's life, especially for those who may be unfamiliar with their obligations and the different options they have. For example, some people may be inexperienced in this regard, which could lead to avoidable mistakes and unnecessary challenges. Those who are inexperienced with these matters may be unsure of which type of business will best suit their needs, or they could have other serious questions that need to be carefully reviewed.

A look at asset-based lending

Forming a business can be challenging for various reasons, and there is often a lot of uncertainty. However, there may be various ways you can not only simplify the process of business formation but benefit from a financial point of view. Sometimes taking out a loan is necessary and there may be a number of options in front of you. In this post, we will go over some of the ins and outs of asset-based lending and different considerations that may apply to you. In New York City and across the country, it is essential for those who are starting a business to be aware of all their different options.

Should you hire employees or contractors?

Being a business owner in New York can be extremely rewarding, but it also comes with its challenges. If you are a brand new company, or you are a smaller business ready to grow, it may be time to hire. Typically, the options you have are to hire traditional employees or independent contractors. There are benefits to hiring either one, and it typically depends on your specific business and what work you need done.

Carefully preparing for a merger

We know how challenging it can be to launch a business and make key decisions for your company. Other business-related issues can cause a great deal of stress as well, such as mergers and acquisitions. If you are considering a merger, or have already started the process, it is very important to make sure that you prepare properly. For example, you should go over the process and get answers to any questions that you have. With such a potentially complicated transaction, it is crucial to have a solid understanding of your options before moving ahead.

Some benefits of starting a C-corp

For those who are preparing to launch a business, there are many decisions to make. However, it is essential to identify the most sensible type of business during the entity selection process. At Codispoti & Associates, we know how vital it is for entrepreneurs in New York to make the right decision during this crucial stage and for some, a C-corp will make the most sense. In this write-up, we will examine some of the reasons why C-corps can be so beneficial for business owners. However, it is crucial to thoroughly compare all of your options before moving forward.

Business succession matters

You are running a thriving business in New York, but you do not want to work forever. If you were retiring from someone else's company, they could simply replace you, but as the owner, this transfer is not so straightforward. We at Codispoti & Associates, P.C., understand that part of a business's continuing success is in creating an effective succession strategy. 

The importance of effective agreements

Whether you are starting a company or your business has been established for years, there are various business agreements you may have to sign. From employment contracts to an agreement with one of your suppliers or a shareholder agreement, you may have questions related to any number of contracts. If so, it is pivotal to understand how crucial it is to draft effective agreements. Our law office knows that these contracts can be tricky, but you need to ensure that your business is protected.

  • NYSBA
  • Brooklyn Bar Association 1872 Justice Integrity Honor Courtesy
  • National Italian American Bar Association Representing The Italian American Legal Community
  • Columbian Lawyers Association of Brooklyn
  • Columbian Lawyers Association of Rockland County
  • The Copyright Society of the USA
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