21 02, 2019

Record Keeping for Your Business: What’s Required?

By |2019-02-20T20:59:39+00:00February 21st, 2019|Categories: Business Planning, Taxes|Tags: , , , , , |0 Comments

Whether you are just starting up a new company or have a business that has been in operation for a while, good record keeping is an essential part of running your business. You are responsible for establishing an effective system to store and maintain your business records whether your [...]

19 02, 2019

Transferring LLC Membership Interests Part 2—Voluntary Transfers

By |2019-02-16T16:18:27+00:00February 19th, 2019|Categories: Business Formation, Business Planning, Contracts|Tags: |0 Comments

An LLC affords its members a certain amount of personal asset protection. Part of this protection hinges on the restricted transferability of LLC membership interests.  Restricted transferability protects the non-transferring members from creditors and unwelcome new members, which upholds the integrity and value of the non-transferring members’ membership interests. [...]

16 02, 2019

I Need to Hire Someone for My Business; What Do I Need To Know?

By |2019-02-15T17:35:28+00:00February 16th, 2019|Categories: Business Planning, Financial, Taxes|Tags: , , |0 Comments

Most businesses try to grow – at least somewhat.  However, to grow or to step away from the business for a personal life, vacation, or other ventures, you’ll need help with day-to-day operations.  If you’ve never hired someone before - or it’s been a long time - don’t worry [...]

7 02, 2019

Transferring LLC Membership Interests Part 1—An Overview

By |2019-02-05T11:43:13+00:00February 7th, 2019|Categories: Business Planning|Tags: , , , |0 Comments

Say you are a member of an LLC. You own membership interests in the LLC. However, what if you want to leave the LLC? What if you get a divorce? What if you have creditors seeking immediate repayment? What can you do with your membership interests? The answer depends [...]

5 02, 2019

Does the “Corporate Veil” Really Protect Your Personal Assets?

By |2019-02-04T20:43:00+00:00February 5th, 2019|Categories: Business Formation, Business Planning, Litigation|Tags: , , |0 Comments

You may have done your homework and weighed your options. Perhaps you’ve even considered the tax and non-tax implications for common business entities. We bet you’re also intrigued by the protections certain business entities afford their owners. The “corporate veil” that protects personal assets of the business owners can make [...]

2 02, 2019

8 Simple Cost Saving Measures for Small Business Owners

By |2019-02-01T17:55:26+00:00February 2nd, 2019|Categories: Business Planning, Contracts, Financial, Taxes|Tags: , , , , , |1 Comment

All successful businesses do their best to save money, improve efficiency, and increase profits when and wherever possible.  This is especially necessary for small businesses on a tight budget. While there are numerous ways to save money, these eight cost-saving measures are among the easiest to implement: Bargain. Bargaining with [...]

31 01, 2019

I’m Starting a New Business – Should I Use an LLC (Taxed as a Partnership) or an S Corporation?

By |2019-01-29T17:40:58+00:00January 31st, 2019|Categories: Business Planning, Taxes|Tags: , |0 Comments

Entrepreneurship has been called the new American dream. Hanging a shingle starts with an idea that develops into a business plan, but not without careful financial and legal considerations. Among the decisions that new business owners grapple with is whether to form a limited liability company taxed as a [...]

29 01, 2019

5 Reasons Your Single-Member LLC Needs an Operating Agreement

By |2019-01-28T13:06:19+00:00January 29th, 2019|Categories: Business Formation, Business Planning|Tags: , , , , |0 Comments

An operating agreement is a contract that controls your LLC’s operations as well as member interaction with each other and with the LLC. You may think that an operating agreement is not necessary for your single-member LLC - after all - why make an agreement with yourself? Is the [...]

22 01, 2019

Impact of Tax Reform on Small Businesses

By |2019-01-22T16:31:36+00:00January 22nd, 2019|Categories: Business Planning, Taxes|Tags: , , , , |0 Comments

Now that it’s tax season, you may be concerned how the Tax Cuts and Jobs Act, enacted in December 2017, will impact your small business. The reforms represent the most sweeping tax overhaul in 30 years and could have a positive impact on your business’s bottom line—but they may [...]

18 01, 2019

3 Asset Protection Tips You Can Use Now

By |2019-01-14T19:21:26+00:00January 18th, 2019|Categories: Business Formation, Business Planning, Estate Planning, Questions, Taxes|Tags: , , , |1 Comment

A common misconception is that only wealthy families and people in high risk professions need to put together an asset protection plan. But in reality, anyone can be sued. A car accident, foreclosure, unpaid medical bills, or an injured tenant can cause a monetary judgment that will decimate your [...]