Making It Legal
How do you take your passion and your dream and make it a legitimate business? How do you “legally” make it a business? Today’s episode we are continuing our series on creating a real, money-making business out of your passion. We are joined by Attorney Carley Windorff* as we discuss how to “get legit” with your business.
Choosing a Business Name
It all starts with a name. Who are you doing business as? Researching and choosing a correct name can help your brand and your business stand out. Choose a name that’s unique enough that no one else has it (or at least doesn’t have it in your state or country) and register it.
LLC? Sole Proprietorship? S. Corp?
These are the three most common options for choosing how to file your business. The biggest difference between them is the issue of limited liability protection. It’s important to do your research and decide which is the best for you and your business.
Whatever type of business you are pursuing, it’s important to have contracts in place if you are providing a service. This helps communicate clearly expectations each party has and lays out exactly what the transaction will be. Consult with an attorney to make sure your contracts are legally binding for your state.
*Disclaimer – Your receipt of information from this podcast does not create an attorney-client relationship between you and Windorff Law. Such material is for informational purposes only and may not reflect the most current legal developments or specific legal advice relevant to any particular situation. These informational materials are not intended, and should not be taken, as legal advice on any particular set of facts or circumstances. You should contact an attorney for advice on specific legal problems.
• Filing an LLC: www.wdfi.org
• Wisconsin statutes: https://docs.legis.wisconsin.gov/statutes/prefaces/toc
• Wisconsin State Bar: www.wisbar.org
• Wisconsin Department of Revenue: www.revenue.wi.gov
• Internal Revenue Service: www.irs.gov
Attorney Carley N. Windorff has been practicing law for six years. She is the owner of Windorff Law LLC based on Green Bay. Some of the areas of law she specializes in are family law, criminal law, estate planning, and employee-side employment litigation.