Does my business really need one? Have you ever wondered… do I need an LLC for my business? Don’t worry, we are here to help. An LLC stands for “Limited Liability Company”. An LLC is mainly setup to protect the members’ personal assets and keep them separate from the business’s creditors. What does that mean … continue reading the entire article
When a business owner decides to file their Limited Liability Company (LLC) on their own, creating a thorough Operating Agreement is the step that is most often overlooked. Often, many commonly omitted details can be avoided when you go through the process of forming your LLC with a professional.
Every business owner knows that building a business takes dedication, commitment, hard work, sacrifice, sweat equity, and yes, a little luck. There is nothing quite like the sense of pride and accomplishment that comes from owning a successful business, whether it is a partnership or a family-owned one. To maintain the fruits of your labor, … continue reading the entire article
The most important decision you make as a business owner, whether starting a new business, purchasing a business, or reviewing a current business entity, is choosing the legal structure that will protect your personal assets. There are three to consider. Legal Business Structures Doing Business As (DBA) This option is simply filing a fictitious name … continue reading the entire article
These may be the four most important words for an entrepreneur or small-business owner who often operates on a “handshake” principle: Get it in writing. The challenge and excitement of starting a new business can lead to entering business agreements haphazardly or with the complete trust of the other party, especially if it is with … continue reading the entire article
Purchasing a business is exciting, but the process can be tricky and confusing. There are a variety of variables you should consider before signing on the dotted line. Here are seven common pitfalls: Not forming a business entity. Don’t begin signing contracts, leases, or loan agreements in your own name without planning and implementing your … continue reading the entire article
Small business owners know there is simply no way around legal paperwork. Legal documents constitute the very framework of your business, minimize your risks and help protect your interests. You can find plenty of legal templates online, whether you’re forming an LLC, buying a business, bringing on a new partner, or hiring a new employee. … continue reading the entire article
You’ve been in business for a while. You are working hard to continue to grow and prosper, but have you given much thought as to whom you’ll eventually pass the keys to your business? In ideal situations, you should have a succession plan in place before you open the doors of your business. In reality, … continue reading the entire article
As a small business owner, you should be aware of the new overtime rules that come into effect as of December 1, 2016. These are the most significant changes to salary exemptions since 2004. While you may have an employee on salary now, that does not necessarily mean you should automatically move them to an … continue reading the entire article
When any type of business entity has more than one owner, having the proper written documentation is essential. Some entrepreneurs are reluctant to take this step as it may be seen as a lack of trust. On the contrary, written agreements demonstrate good business and are designed to protect all parties involved. Business owners usually … continue reading the entire article