By David C. Minicozzi, Attorney at Law (Branford, CT)
The first decision a small business owner must make is: are they going to run their business in a business-like manner? That includes the process of creating the business. Creating an LLC – Limited Liability Company – can be a wise choice. But creation needs to be done correctly. Connecticut law provides for certain minimal requirements, however, if the LLC is going to borrow money, or if it is audited, the bank and the IRS will look for further documentation you should have obtained at the time of its creation. If you do not have that documentation it will impede or destroy your ability to borrow money. And that IRS audit will be quite miserable. An attorney can assist in avoiding these pitfalls.
In today’s world, an unfortunate trend exists to discount the use of an attorney in certain type of situations. People are told “oh, it’s just a simple transaction,” or “anyone can write that,” or my favorite, “you can save time and money by having a notary or a paralegal do it, or even do it yourself.” Maybe. But by the time you find out a mistake was made it may be too late.
Don’t let that happen to you. Call The Law Office of David C. Minicozzi 203-483-7069 or 203-804-0841 to schedule a consultation today.