How
can HCMP help me or my company with national or international business
issues or transactions?
HCMP attorneys regularly handle business transactions, financing, and
litigation matters with national and international clients. Also, HCMP
is the only Seattle law firm selected to be a member of Meritas, a network
of 185 high quality, medium-sized law firms throughout the USA and in
virtually every other country in the world. Our Meritas connection enables
us to have a presence in most major business centers in the world and
access to some of the best legal talent in those areas. When transactions
or matters involve issues in other states and countries, with a simple
phone call we can engage services of qualified firms experienced in
those areas. We work together to meet your objectives in national and
international matters. For more information, see Meritas.
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Can
you help me choose the right entity for my business?
Yes, we can. One of the most important decisions a new business owner
can make is what type of entity to use for his or her business. There
are generally four types of business entities: sole proprietorships,
partnerships, limited liability companies, and corporations. The one
that is right for you depends upon a balancing of liability, tax and
other business concerns.
For liability purposes, a sole proprietorship and certain partnerships
are not treated separately from their owners, so that any obligations
or liabilities that the business incurs become the personal obligations
or liabilities of the owners. On the other hand, some types of partnerships,
limited liability companies and corporations are treated separately
from their owners so that in general, if they are properly established
and operated, the liabilities and obligations of the business do not
become the personal liabilities and obligations of the owners.
Accordingly, a business owner who is engaged in a business that may
create a variety of different liabilities, for example a construction
business, is better protected if he or she chooses a limited liability
company or corporation for his or her business rather than a sole proprietorship
or most partnerships.
For tax purposes, sole proprietorships, partnerships, limited liability
companies and some corporations, known as S corporations, are not treated
separately from their owners. The taxable income, tax deductions and
tax credits they generate pass through to their owners and appear on
their personal tax returns. Conversely, some corporations, known as
C corporations, are treated entirely separately from their owners and
must pay their own tax on their income. A new business owner should
therefore determine whether, given the tax rates and expected income
and losses, it is better for him or her to pay the taxes or for the
business to pay the taxes.
There are also other considerations. Selecting the right entity is
a process that requires careful analysis before the business begins.
The Business attorneys at HCMP can help you through the maze to the
right choice for your business.
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If
I need a Will or other estate planning services, how do I start?
Advance planning is needed to make sure your assets will be handled
and your loved ones cared for, in the way you would like them to be
after your death. The first step is to prepare lists of those who you
want to share in your estate and the assets that you have. We ask our
clients to provide us with this basic information in the form of a Confidential
Estate Planning Questionnaire. Please give us a call if we can help
you. We'd be happy to sit down with you and discuss the alternatives
and assure that your goals are met.
What
is your approach to legal fees?
Although our client list includes many large companies, we frequently
work with individuals, families, and small companies, too. We are very
sensitive to costs. We staff matters appropriately, working closely
with clients to determine what part of a project they want us to handle
and what part they can appropriately handle themselves, and we make
extensive use of skilled paralegals. Sometimes you need just a little
advice. We can provide that and help you chart the path to follow. Because
of our considerable expertise and years of experience, we provide that
advice in a very cost-effective manner.
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