For the love of your business
For the love of your business
Small businesses can ill afford litigation – not only because of the cost, but also for the time and attention lawsuits can divert from your business. Here are six tips to help you avoid one of the most prevalent sources of business litigation: employee lawsuits. Adhere to nonexempt status. If employees work more than 40 […]
Read MoreOne of the most costly things business owners can do – often through benign neglect – is allow their company to lose its good standing with the state where it operates. When this happens, a company can be administratively “dissolved” and owners can lose the personal liability protection of a corporation or LLC. Here are […]
Read MoreBusiness owners concerned about protecting their personal assets from business liabilities often choose to operate their companies as a Limited Liability Company (LLC) or Corporation (usually as an S-Corporation), since these business structures provide what is known as a “liability shield”. However, a court can dissolve this liability shield if the proper steps are not […]
Read MoreSection 179 of the tax code is provides a great opportunity for small business owners to save on their taxes by allowing you to deduct in one year the cost of any new or used personal property that you purchase and use in your business more than 50% of the time. Some of the items […]
Read MoreDecember is the month that many business owners spend extra time winding down the year and planning for the new year. Here are five year-end tax planning tips to prepare your business for 2014: Review subcontractor information. If you paid any subcontractor more than $600 during 2013, you are required to send each subcontractor a […]
Read MoreOn Nov. 27, the federal government announced a one-year delay for small businesses to sign up for insurance plans using HealthCare.gov. The enrollment deadline is now November 2014 for coverage that will take effect in January 2015. The government said the delay was necessary to allow individuals impacted by the well-known technical difficulties with the […]
Read MoreWith the U.S. divorce rate at around 50% for first marriages and even higher for second marriages, a divorce’s impact on the fate of your business should be cause for concern. The best thing that business owners can do is take preventive measures to ensure their companies will not suffer from a divorce – either […]
Read MoreIf you are planning to sell your company now or sometime in the future, a recent Forbes.com article advises that there are 3 strategies you should use to get as much cash out of your hard work in building the business as possible: Pre-sale planning. Look for opportunities to increase the sale price of your […]
Read MoreMost business owners build a business with an endgame in mind: either cashing it out or passing it on. Whatever your scenario is for what happens to your business when you retire or die, it is not likely to happen without a comprehensive plan that aligns your personal and business objectives. If you plan to […]
Read MoreConsider all the time you have spent or will spend building your business – and then consider how much energy you have spent on how to protect it or protect your family from it. Unfortunately, many small business owners don’t give much thought to asset protection until it’s too late – when a suit is […]
Read MoreIf you have built a successful business and plan to leave it to your heirs or business partners, doing so is not a process that just happens naturally after you retire or die. If you don’t have a buy-sell agreement, a business succession plan, a business transition plan or a business preservation plan in place, […]
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