YOUR BUSINESS
It is important to determine the most advantageous form of your business with your attorney and your accountant. The following forms of business exist in Oregon.
SOLE PROPRIETORSHIPS require few legal formalities and the owner keeps all the profits. However, the sole proprietor is subject to business losses and personal liability as an individual.
PARTNERSHIPS spread the risk among partners.
CORPORATIONS require certain formalities and may have greater tax consequences than sole proprietorships or partnerships. But corporations offer a higher degree of protection from personal liability. S-corporation treatment can reduce the tax bite while preserving the protection offered by incorporation. One of these forms of business operation, or a statutory spin-off such as an LLC, should suit your needs.
Interested in discussing a business matter? Call 387-2000 or e-mail marcgeller@gorge.net to set up an appointment.