For the love of your business

Articles to LIFT Your Life and Business

4 Legal Agreements No Startup Should Be Without

When starting a new business, putting the appropriate legal agreements in place is crucial for protecting your key assets and relationships. Yet it’s common for many new business owners to put off—or even entirely overlook—creating such agreements. You might not even know which documents are most needed. The following 4 agreements are among the most […]

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How to Pay Yourself as the Owner of an LLC

One of the most exciting parts of owning a business is that you get to pay yourself. No longer forced to rely on someone else’s leadership to keep your company running or their good graces to pay you what you want or need, you get to decide how much you earn, how much you work, […]

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4 Essential Asset Protection Strategies for Entrepreneurs—Part 2

In the first part of this series, we discussed different strategies entrepreneurs can use to protect their business and personal assets. Here, we’ll look at two final ways entrepreneurs can achieve asset protection. No matter what line of business you are in, the reality of being a successful entrepreneur is that you open yourself up […]

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4 Essential Asset Protection Strategies for Entrepreneurs—Part 1

No matter what line of business you are in, the reality of being a successful entrepreneur is that you open yourself up to a number of unique risks—and the more successful you get, the more risks you face. Asset protection planning is intended to reduce or eliminate the risks of being in business by shielding […]

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How (and Why) to Keep Your Corporate Records Up to Date

First of all, a quick reminder: July 15th is this year’s due date for federal taxes, pushed back from April 15th due to the upheavals caused by the coronavirus, so get in action now, if you are not already, to get your taxes prepared and filed. Today we’re talking about the importance of keeping meticulous […]

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Time to Operate as a Real Business!

With the passage of AB5 in California (the new law that imposes significant risk on employers who mischaracterize employees as independent contractors), and the potentiality for that same law to be applied across the United States, you may be considering incorporating to strengthen your position that you are not an employee. If so, we think […]

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Time to Change Your Practices if You Are an IC or Employ an IC in CA

If you are an Independent Contractor in California, or you have any team members in California that you have hired as an Independent Contractor, you must contact a Family Business Lawyer™  immediately to discuss your options. You can read the summary of AB5 on Wikipedia, including legal challenges to the law. And, you can read […]

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5 Best Practices For Complying With Your LLC’s Administrative Formalities

Limited Liability Companies (LLCs) are a popular business entity with many entrepreneurs. Like corporations, LLCs offer valuable personal liability protection for their owners. Unlike corporations, however, LLCs aren’t required to adhere to the same burdensome record-keeping requirements and other corporate formalities corporations must follow. That said, while the administrative requirements for an LLC are far […]

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3 Ways to Ensure Your Company’s Corporate Veil is Never Pierced

Setting up your business as a corporation or limited liability company (LLC) is a crucial way to protect your personal assets from debts and other liabilities incurred by your business. The ability of a corporate entity, such as an S Corp or LLC, to separate and safeguard your personal assets is often referred to as […]

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3 Major Benefits of Structuring Your Business As An LLC or S Corporation

One of the smartest moves you can make as an entrepreneur is to structure your business as a limited liability company (LLC) or an S Corporation. You’re probably aware that both LLCs and corporations can protect your personal assets from debts and lawsuits incurred by your business, but they also offer other key benefits that […]

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3 Major Mistakes to Avoid When Buying a New Business

Whether it’s your very first or your tenth, if you’re looking to start a new business venture, you have two options: 1) build your own from scratch or 2) buy an existing one. And while many entrepreneurs dream of building their own company from the ground up, the reality is, launching a brand-new business can […]

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