For the love of your business
For the love of your business
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 […]
Read MoreQ: 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 […]
Read MoreQ: How can I get rid of a horrible employee from my business? –Frustrated Business Owner A: Dear Frustrated: Whether your employee is incompetent or just doesn’t fit with your mission or people, it’s tempting to just tell an employee to “get lost.” But you must proceed carefully. Many laws provide protections even to “at-will” […]
Read MoreQ: Is an Operating Agreement the Same As Bylaws? – Curious A: Dear Curious, Bylaws are internal documents that govern a corporation, and operating agreements break down an LLC’s operating procedures. Operating procedures in the corporate bylaws lay out specific rules for members executives, employees, and shareholders. They typically include contact information for the corporation, […]
Read MoreQ:My Trademark Is Being Infringed Outside of the United States: What Should I Do? – Infringed On A:Dear Infringed On, Before you take any action, take a breath and ask yourself this question—how will this infringement actually affect your business? Taking on international infringement takes time, money, and energy. If the company does most of […]
Read MoreQ: Is there a way to temporarily pause my LLC business? – Needing a Break A: Needing a Break, It’s completely normal to go through uncertain phases with your business, even in the best of times. You may need some time to regroup and figure out whether you want to pivot with your business or […]
Read MoreQ: Since I’m unemployed due to the pandemic, I want to promote myself as a digital marketer while working from home. Do I need a business license? – Anxious Entrepreneur A: Dear Anxious: While some recently unemployed American’s are looking for a side hustle while anticipating returning back to work, many entrepreneurs overlook the fact […]
Read MoreQ: Can Bankruptcy Save My Business? – Concerned Entrepreneur A: Dear Concerned: If you’re struggling with debt, but don’t want to shut down your business, bankruptcy might be one way to save your company. While this may sound paradoxical, many big corporations— American Airlines, General Motors, and Kodak—have successfully used bankruptcy to restructure debt and […]
Read MoreQ: What insurance do I need? – New Biz Owner A: Dear Biz: Liability insurance is a valuable form of protection needed by most businesses. Choosing the right policy for your business can be tricky, so it’s important to understand what liability insurance covers before you make the investment.cl If you get sued for personal […]
Read MoreQ: What is cyber insurance? -Tech Newbie A: Dear Newbie: Cyber insurance offers protection against damages resulting from threats to your company’s computer systems and data, such as hacking, data breaches, network failures, and other events. If your computer network is breached and your data is lost, stolen, or compromised, the cost to recover and […]
Read MoreQ: Why would I want my LLC taxed as an S corporation? -Tax Saver A: Dear Saver: Outside of personal liability protection, one of the biggest benefits of an LLC is the flexibility the entity offers for taxation. LLC owners, or members, get to choose how they want to be taxed: as a sole proprietorship, […]
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