For the love of your business
For the love of your business
If you’re a business owner and have been operating your business as a Sole Proprietor, you’re leaving the personal assets of your family at risk. From a creative side hustle to a tech startup, owning a business always comes with some level of financial investment and risk, whether you’re purchasing supplies, leasing office space, or […]
Read MoreIf you are running a business, it’s easy to prioritize estate planning less than your other business matters. After all, if you’re facing challenges meeting next month’s payroll or your goals for growth over the coming quarter, concerns over your potential incapacity or death can seem far less urgent. But the reality is considering what […]
Read MoreTrusts are often underused or misused tools for business owners, as they can provide a range of tax, asset protection, and succession planning benefits, when established and maintained in the right way. As a Personal Family Lawyer® with family business planning expertise focusing on serving business owners, I can help you choose the right Trust […]
Read MoreQUESTION Q: Which startup expenses are tax-deductible for my company’s income taxes? —Tax Savvy CEO ANSWER A: Dear Savvy: According to the IRS, three categories of startup expenses are eligible for deductions: expenses for creating your business, expenses for launching your business, and expenses for organizing your business. Each category consists of different types […]
Read MoreKeeping your finances in order is crucial for the success of your business. Even if you’re running a small operation, bookkeeping is a critical component that cannot be overlooked. While it may not be the most exciting task, it’s important to ensure accuracy to avoid costly mistakes that could hurt your business in the long […]
Read MoreAs a business owner, you may want to keep your personal information private and out of the public record. Luckily, if you want to run your own business but prefer to stay out of the spotlight, there’s a solution to this problem that many business owners use – nominee services. Nominee services allow you to […]
Read MoreTo run a business successfully, it is necessary to create various financial documents, including cash flow and profit and loss (P&L) statements. Doing this enables business owners to understand their business’s current financial health and make appropriate changes to improve company performance. Many business owners hire accountants to create these documents. Still, it can be […]
Read MoreQUESTION Q: How can I protect myself from lawsuits from my employees? —Concerned CEO ANSWER A: Dear Concerned: Although you may not like to think that one of your team would ever sue you, your employees (and contractors) are among the most likely sources for litigation. The most common lawsuits arise when a team […]
Read MoreClient contracts, or agreements, refer to legal agreements between businesses and consumers. They help establish expectations for the individuals who use a business’s products or services. Additionally, they outline what customers can do if they have an issue with the product or service, including how they can complain. Businesses typically use client contracts to ensure […]
Read MoreIf you dream of one day retiring from your business, selling it, or leaving your company to your family, there are essential planning steps to take care of today, no matter how far away you think that time may be. Even if you are just starting, beginning with the end in mind will set your […]
Read MoreRegardless of the industry you are in, the reality of being a business owner is that you open yourself up to a number of unique risks that most people don’t have to worry about—and the more successful your business is, the more risks you face. Unfortunately, most business owners aren’t fully aware of all the […]
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