Ideally, you should consult with a business attorney before starting your business to ensure proper foundation and protection. However, it's never too late to get legal guidance. Key times to consult include: before forming your business entity, when drafting or signing important contracts, before hiring employees, when facing regulatory compliance issues, before taking on investors or partners, and when experiencing significant growth or considering business changes. Proactive legal guidance is almost always less expensive than resolving problems after they occur. Remember, it's never too late to start doing the right thing.

While not every business requires an LLC, forming one provides crucial liability protection that separates your personal assets from business debts and liabilities. For most small businesses, an LLC offers the right balance of liability protection, tax flexibility, and administrative simplicity. Caveat: you are always liable for the things that you do. An LLC is not a substitute for proper insurance. During our consultation, we can assess your specific situation and help you determine if an LLC is right for your business.

This question reflects a common misconception that we address in this article. An LLC is a business entity type, while an S-Corporation is a tax election made with the IRS. In fact, an LLC can elect to be taxed as an S-Corporation while maintaining its LLC legal structure. By default, single-member LLCs are taxed as sole proprietorships and multi-member LLCs as partnerships, but they can elect S-Corporation tax treatment to potentially reduce self-employment taxes on a portion of income. This election comes with additional requirements like reasonable salary payments, more formalized accounting, and certain ownership restrictions. We can help you understand whether your LLC would benefit from S-Corporation tax treatment based on your specific financial situation and goals.

While template contracts may seem cost-effective initially, they often fail to address your business's specific needs and Colorado's legal requirements. We've seen template contracts create mistakes that ultimately ended up costing thousands more than it would have cost to do custom agreements in the first place. Generic templates may contain unenforceable provisions, omit crucial protections, or include terms that don't serve your interests. Our customized contracts provide proper protection, clarity, and enforceability, potentially saving you from costly disputes and litigation in the future.

The cost to form an LLC in Colorado includes the state filing fee ($50 as of 2025 for online filings) plus attorney fees for legal guidance and document preparation. Some business also require additional licensing or registration fees. Our LLC formation packages depending on complexity of what you need. That's why we offer free initial consultations to get to know you and your business better. We try to always work on flat-fee pricing so you know exactly what to expect.

Business partnership disputes can be costly and destructive without proper planning. We strongly recommend creating comprehensive operating or partnership agreements that address decision-making authority, dispute resolution procedures, buyout provisions, and exit strategies. These agreements establish clear protocols for resolving disagreements and protect all owners' interests. We've experienced partnership disputes firsthand and use that knowledge to help our clients avoid similar challenges.