For the love of your business

Articles to LIFT Your Life and Business

Q&A:What is an intellectual property audit?

Q & A: QUESTION ______________________________________________________________________________ Q:    What is an intellectual property audit, and should my company get one? —Cautious COO   ANSWER ______________________________________________________________________________ A:     Dear Cautious: An intellectual property (IP) audit is a comprehensive, systematic review that identifies all of your IP assets and then evaluates all of the potential risks and […]

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Q&A: Is the ERC still available?

Q & A: QUESTION ______________________________________________________________________________ Q:    Can my company still qualify for the Employee Retention Tax Credit in 2021?   —Curious CFO   ANSWER ______________________________________________________________________________ A:     Dear Curious:   The Employee Retention Tax Credit (ERC) is a fully refundable tax credit created in 2020 to encourage businesses to keep employees on their […]

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Q&A Can my family take over my business after-death?

QUESTION ______________________________________________________________________________ Q:    How can I make sure that my family will be able to successfully take over my business once I’m gone? —Ready to Retire   ANSWER ______________________________________________________________________________ A:     Dear Ready: There are countless stories of family members assuming control of multi-million dollar companies and running things into the ground in […]

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Q&A How can I determine if the business I’m looking to buy is properly valued?

Q: How can I determine if the business I’m looking to buy is properly valued? —Interested Investor ______________________________________________________________________________ A: Dear Interested: When buying an existing business, determining the true value of the operation is one of the most important factors. In fact, every single other factor about the business can be totally perfect, but if […]

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Q&A How does the Democrats’ proposed tax bill affect the capital gains tax rate?

Q: How does the Democrats’ newly proposed tax bill affect the capital gains tax rate? —Tax Saver ______________________________________________________________________________ A: Dear Tax Saver: The new bill would increase the long-term capital gains tax rate from 20% to 25% on individuals with taxable income over $400,000. The increase is set to be effective for the tax year […]

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Q&A How does the new email phishing scam that targets employee payroll work?

Q: How does the new email phishing scam that targets employee payroll work? —Concerned Business Owner ______________________________________________________________________________ A: Dear Concerned Business Owner: Known as “business email compromise” or “business email spoofing” (BEC/BES), these scams target businesses of all industry types and sizes. The emails typically impersonate a high-level company employee, like the CFO or CEO, […]

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Q&A Will my homeowners insurance policy cover my home-based business?

Q: Will my homeowner’s insurance policy cover my home-based business? —Home Biz Bro ______________________________________________________________________________ A: Dear Biz Bro: You might think that your homeowner’s policy would protect a business run out of your home, but this is a common misconception. Homeowners insurance doesn’t offer coverage for any business property, including both equipment and structures used […]

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Q&A What type of startup costs can I write off on my company’s income taxes?

Q: What type of startup costs can I write off on my company’s income taxes? —Tax Savvy CEO ______________________________________________________________________________ A: Dear Savvy: According to the IRS, there are three categories of startup expenses that are eligible for deductions: expenses for creating your business, expenses for launching your business, and expenses for organizing your business. Each […]

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Q&A Do I need to trademark my logo and company name?

Q: Do I need to trademark my logo if I’ve already trademarked my company name, and they’re used together? – Enquiring Entrepreneur ______________________________________________________________________________ A: Dear Enquiring: Registering your business’ name for a trademark with the United States Patent and Trademark Office (USPTO) provides protection for the name itself, but that protection doesn’t extend to your […]

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Q&A Do I need to trademark my logo and company name?

Q: Do I need to trademark my logo if I’ve already trademarked my company name, and they’re used together? – Enquiring Entrepreneur ______________________________________________________________________________ A: Dear Enquiring: Registering your business’ name for a trademark with the United States Patent and Trademark Office (USPTO) provides protection for the name itself, but that protection doesn’t extend to your […]

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What’s In A Name? Frequently Asked Questions About Trademarks

When it comes to your company’s identity, nothing is more vital to your company than your name and logo. By developing a catchy name and snazzy logo for your business, you can quickly get your company recognized, remembered, and respected. Once you have come up with a winning name and logo, you will want to […]

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