SAN DIEGO, Calif., March 15, 2020 (GLOBE NEWSWIRE) -- Concise Management Services San Diego guides professionals through specialized projects that require experts with knowledge in a variety of fields. Every business is unique. The style of management is one of the first considerations when starting a new organization. The professionals of Concise Management Services approach every project with a plan that suits the unique needs of your organization.
Understanding the laws, local regulations, and ordinances is a vital aspect that our professionals will explore to ensure your organization meets all compliance regulations. Document preparation is a vital service offered and one of the key foundations of a new organization. Both large and small organizations need to have the proper documents and meet the regulations of the municipalities in which they operate.
A Limited Liability Company or LLC is a business structure used by small business owners to protect their private assets. If you own a small business like a pool cleaning company, a construction company, or work as a hairstylist our professionals will evaluate if an LLC is the right business structure for you. An LLC protects your assets and works for individuals and partners.
For individuals who use a name other than their official government name a DBA (Doing Business As), filing is an essential document. Fictitious names are often used by entertainers to protect their identities. Sole proprietors who operate using a fictitious name need a DBA to comply with local municipality regulations.
For larger and more complex organizations may consider Incorporation or Non-profit corporation depending on the goals of the organization. Incorporation is the formation of a new organization and can encompass a variety of structures. The typical CEO, President, VP, etc. style has been the standard for over a century. However, new structures like the S Corporation or C Corporation are options that our professionals can outline for you and help you to determine the best structure for the new organization you are developing.
An S Corporation or S Subchapter refers to organizations that meet specific IRS (Internal Revenue Service) criteria. Organizations that have under 100 shareholders can use this IRS organizational structure to gain the benefits of a corporation while receiving the tax breaks of a partnership model. An S Corporation can avoid payroll taxes by providing corporate dividends instead of a salary; however, the IRS frowns upon this loophole and professionals must be consulted to ensure the transactions are valid and not considered fraud.
One specific aspect of the S Corporation that is important to note is that shareholders must be either United States Citizens or legal resident aliens. This specific rule does not apply to C Corporations, Non-Profit's, LLC's, Partnerships, or Sole Proprietors.
The C Corporation structure separates the corporate income from the shareholder or owner's income. Therefore, the owners/shareholders pay their taxes separate from the taxes that the organization pays on corporate income. The benefits of separating personal income tax from corporate income tax should be evaluated by a professional before deciding on this structure for your organization.
There are many documents that executives and individuals require from time to time. Power of Attorney is a vital document for executives preparing to undergo surgery, are leaving the country on vacation, or maybe out of touch for any reason. The Power of Attorney document allows a designated person to make decisions on your behalf. These documents can be broad or extremely specific. It's vital to consult a professional before signing a Power of Attorney document due to the sensitive nature of such a document.
A Promissory Note is a financial document often used for large transactions like land purchases or car loans. A Buy/Sell Agreement is another vital financial contract used in many different financial situations. Consult a professional from Concise Management Services San Diego before signing documents.