Family Business Consultants

My mother is a counselor and teaches classes. Her focus is family/kids. I help her with the classes, provide some coaching services, and do consulting. We want to start a business, and have picked out a name. At this time we will split the profit from the classes, and we each will get what we earn from our individual activities less taxes.

We want to limit liability and maximize tax benefits. We live/work in Washington State. What form of business structure would you recommend and why? Our gut says LLC, but we aren’t the experts.

We will be visiting with a lawyer or accounting executive to finalize the business, but wanted to gather some information ahead of time.

If you’ve never been in business before, I would strongly recommend that you talk to a business counselor before you do anything especially spend money. I’d call the local Washington state office of SCORE (go to http://www.score.org and input your zip code to find the chapter nearest you), the advice is FREE.

The counselor at SCORE will help you to write your business plan because it will force you to dig out all of the start up details and the costs of starting your Counseling/Consulting business and force you to also understand all of the aspects of this business including the customers you’ll concentrate on (your market ) and how you’ll go after them.

Try this link :

http://www.ychange.com/small-business-co…

and read some of the articles especially the ones about a business plan and starting a business.

Good Luck