The Pros and Cons of Partnerships
Partnerships allow you a variety of options to obtain initial funding, flexibility of taxation purposes and partnership structures to fit your unique circumstances. There are drawbacks, however. Certain partnership structures result in the potential for personal liability, partnerships may be terminated upon death or the departure of a partner, and it may be difficult to transfer ownership.
Due to the wide range of partnerships that could be formed, we cannot provide one flat rate. For example, a basic partnership with two individuals will have a significantly different cost than a limited partnership with three hundred partners. Once we determine what your goal is, we will quote you a fee.
Should you require additional services once your partnership is formed, Vandenack Weaver will provide a quote prior to starting any work. Additional services could include Minute Books, Registration of Trade Name, Registration of Trademark, Company Policies and Procedures, and many others.
About Our Legal Team
Our attorneys have extensive backgrounds in tax, business and litigation. We use this knowledge to act as active partners for our clients, helping them develop strategies for creating the best results for their companies, families and futures. To learn more about our lawyers’ background and qualifications, visit our corporate site.
- All documents are customized to your entity based on your input.
- All documents are reviewed by a licensed attorney.
- Tax status of your entity will be reviewed during the formation process.
- We will obtain tax ID numbers and provide support with all required tax filings, if necessary.
- Service includes detailed Organizational Letter outlining ongoing responsibilities and considerations for operating your business.
- Most entities will be formed within 48 hours.
- Payment accepted via PayPal.