Craco & Ellsworth advises clients on business formation issues, including the proper choice of entity for protection from personal liability. In doing so, the firm works closely with tax and other experts to create an entity that is efficient and protective of the client’s personal assets.
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Craco & Ellsworth can be of assistance at the earliest stages of a businesses development. The firm encourages clients to undertake a rigorous self assessment to determine whether they posses the necessary skills, motivation, experience and financial backing to start a new business. Whether buying an existing business or starting from scratch, clients are encouraged to develop a written business plan focusing on such topics as:
Start up expenses
Financing
Employment issues
Insurance issues
Location (buy, lease)
- The product or service offered
The health of the industry
Where clients/customers will come from
Competition
Pricing of goods/services
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Next, Craco & Ellsworth can assist in forming a supportive and trusted team of experts, including:
- Accountants/Tax Experts
Insurance/Risk Management
Financial Planners
- Investors
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The firm assists in chosing the most suitable organizational structure:
Sole Partnership Partnership Limited Partnership S-Corporation, C- Corporation Limited Liability Company (LLC) Limited Liability Partnership(LLP) PLLP, P.C. Not for Profit
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Along with the team of experts, Craco & Ellsworth focuses on the details of business formation, including registering or reserving names; trademark (or service marks); licensing issues, local, county, city or state, environmental permits; and obtaining tax ID numbers.
Once up and running, Craco & Ellsworth continues to serve as a source of counsel. Issues of employment, competition, financing and expansion invariably result in questions and (problems) that keep clients returning.
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