If you want to purchase a business, you can do it in two different ways: you can purchase all of the assets of the business or you can purchase the entity itself. An asset purchase is simple to explain: you simply purchase all of the tangible and intangible property of the business such as real […]
Business owners should interview attorneys when they first start up new businesses, in order to have a ready legal counsel contact. You may need this person to advise you before you act and to help you react when something happens in your business. If you are sued or have an unexpected situation, you might not have […]
When a new company is formed, attorneys tell them to “Put that in your company record book,” or “Make sure you keep a copy of that in your record book.” It’s as if this record book is the most vital part of a young company (arguably it is)…but just what is a record book? First […]
Recently someone posted on a local Facebook site looking for recommendations for an attorney to form a limited liability company for the poster. The initial LLC Formations post got a few recommendations for good local business attorneys. But the post also received lots of advice from folks that told her that she should just go it […]
For many years, we advised small business clients to purchase real estate to be used in a business after the business was formed. Otherwise, if the real estate was purchased ahead of time in the personal name of the client, and then transferred later to the LLC or corporation, a second real estate transfer tax would be […]
Starting a small business is risky business. According to the Small Business Administration, only half of new businesses survive past five years. Sometimes an entrepreneur can skip some of the hassles of a new business start-up by Buying an Existing Small Business. Although buying an existing business might be less risky than starting a new […]
Multi-Member vs a Single Member LLC: Does it Make a Difference? One of the main reasons to form a Limited Liability Company for a business is for asset protection of the individual Members if the LLC incurs a liability- the assets of the company might be at risk but unless the members have signed personal […]
Many entrepreneurs and small business owners will spend hours scouring Google, Nolo and Findlaw trying to address their legal issue on their own rather than picking up the phone and contacting their attorney. Sometimes the legal issues are straightforward and Google might send the individual to the site with the correct answer. Other times the […]
Tax Advantages Do you have a successful business? Now that you have survived another April 15 (or 18) tax filing, it is time to start planning ahead to reduce your tax liability. Read on for more about a tax break next year. If you formed your business as a limited liability company because of its simplicity, ease […]
Documents for a New Business Entrepreneurs are often caught up in the excitement of starting a business and don’t want to get distracted or bogged down by working on the recommended paperwork for their new business. Entrepreneurs are often anxious to get to the fun and MONEY MAKING part of a new business and they […]
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