For the love of your business

Articles to LIFT Your Life and Business

4 Strategies For Protecting Your Business Against Wrongful Termination Lawsuits

Although you might think of your team as family and believe that they would never sue you, lawsuits filed by employees are actually one of the most common causes of litigation for business owners. In fact, nearly one in every five small businesses will eventually get sued by an employee. Of all types of lawsuits […]

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California’s Prop. 22 Provides App-Based Companies With Big Win

In last week’s election, California voters gave Uber, Lyft, and other rideshare companies a major victory in the battle over the future of gig workers by passing Proposition 22. The hotly contested ballot measure exempts workers for these companies from Assembly Bill 5 (AB 5), a controversial new state law that makes it much more […]

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4 Myths and Misconceptions About Business Entities

Setting up the proper legal structure for your business may seem like a boring detail that you won’t need to spend much time on. But the truth is, selecting the right entity for your company is one of the most crucial decisions you can make as a business owner. That said, there are all sorts […]

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The Dirty Little Secret Most Business Owners Won’t Talk About

November 6, 2020 is “National Love Your Lawyer Day,” which started in 2001 as a way to celebrate lawyers for their positive contributions and encourage the public to view lawyers in a more favorable light. As Family Business Lawyers, we’re dedicated to improving the public’s perception of lawyers by offering business-centered legal services specifically tailored […]

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Is my business eligible for the Employee Retention Tax Credit (ERTC)?

Q: Is my business eligible for the Employee Retention Tax Credit (ERTC)? –Hopeful Business Owner A: Dear Hopeful: If you did not take a PPP loan, you may be eligible for ERTC. This tax credit is worth 50% of qualifying wages, with payment up to $10,000 per employee. The credit applies to wages paid from […]

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How to Save Big Money on Your 2020 Taxes—Part 2

Taxes are a thorn in just about every entrepreneur’s side. Indeed, taxes are your single biggest business expense. That said, it’s fairly easy to reduce the amount of sting taxes cause—but you do have to be proactive. And we’re not talking about doing anything illegal. We’re not suggesting you evade paying taxes; that’s a recipe […]

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How to Save Big Money on Your 2020 Taxes—Part 1

When you first realize that your biggest personal and business expense—bar none—is taxes, it can come as quite a shock. Seeing so much of your hard-earned money wind up in the government’s hands can feel like a shakedown. That said, focusing a relatively small amount of time and effort into strategically reducing your taxes can […]

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3 Steps For Choosing The Right Business Insurance For Your Startup—Part 2

When launching a new business, it’s crucial that you put the right insurance in place. In addition to having the correct legal entity set up, insurance is the primary way to protect your personal assets from the activities of your business. Without the right insurance—or with too little of the insurance you do need—you could […]

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3 Steps For Choosing The Right Business Insurance For Your Startup—Part 1

When launching a new business, it’s crucial that you get the right insurance in place for your company. In addition to having the correct legal entity set up, insurance is the primary way to protect your personal assets from the activities of your business. Without the right insurance—or with too little of the insurance you […]

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Questions & Answers On COVID-19 Tax Changes for 2020—Part 2

Throughout 2020, Congress passed multiple pieces of legislation—most notably the Coronavirus Aid, Relief, and Economic Security (CARES) Act—offering numerous forms of tax relief to help businesses like yours deal with the economic fallout of COVID-19. That said, these new laws have also created a tangled web of new tax and accounting changes that can be […]

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How does a forgiven Paycheck Protection Program (PPP) loan affect my taxes?

Q: How does a forgiven Paycheck Protection Program (PPP) loan affect my taxes? –Curious Business Owner A: Dear Curious: The CARES Act specifies that a forgiven PPP loan isn’t considered taxable income, so you won’t have to pay any federal income tax on it. However, some states may end up requiring you to pay taxes […]

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