One of the first decisions new entrepreneurs make is “What should I name my business?” A lot of brand equity gets built around a business name, so it’s essential to protect that valuable marketing asset. During a presentation to accounting professionals, I discussed trademarks vs. registered business names and the differences in the protection and […]
Extending your small business’s presence across state lines can help your company reach new markets, grow revenue, and boost profits. But how do you expand a small business into another state? And what’s involved in operating a business in multiple states?
There are some filing requirements to operate in other states legally and tax-related considerations that […]
If starting a new business is on your 2022 New Year’s resolution list, we’re here to help you begin on the right (and legal) path.
Here are 10 must-have legal documents you need to start a new business.
1. Business Plan
Technically, a business plan is not a “legal” document, nor is it required to start a business, […]
As a small business owner, how you pay yourself depends on your business’s legal structure and how you elect to pay taxes. The Limited Liability Company (LLC) is a popular legal entity offering liability protection to its owners (called members), simple compliance requirements, and tax flexibility. In fact, tax flexibility is one of the reasons […]
Along with other annual business compliance responsibilities, corporations (and sometimes LLCs) must hold various meetings and record minutes from those meetings. With the new year ahead, new entrepreneurs and existing business owners need to make sure they understand their responsibility to hold annual meetings and draft meeting minutes.
Meetings that Require Keeping Minutes
- Corporate annual shareholder […]
Do you need a DBA or LLC? While that question may sound like an alphabetically infused riddle, it is an important question many new business owners ask.
Fortunately, the answer to that question is not puzzling after you have some basic information about what those acronyms mean and how they may impact a business. And that’s […]
If you’re considering starting a Limited Liability Company (LLC) or restructuring your business as an LLC, it’s important to know how often an LLC pays taxes and how to file business taxes for an LLC. As an LLC, your company benefits from receiving personal liability protection without the compliance formalities required of a C Corporation. […]
With any property, there are inherent liabilities — from a broken balcony railing to old electrical wiring or mold. The LLC forms a wall that shields individual owners from personal liability. If sued by a tenant or guest, the defendant is the LLC, not you. And the judgment can be collected only from the LLC's assets, and not from your own personal assets.
Should you incorporate year end or next year? It may depend on the state where a business is located and if the option of a delay effective date exists.
Many entrepreneurs wonder if an LLC is a corporation. An LLC is not the same thing as a corporation, but it’s easy to get the two business entity types confused. In this article, I’ll explain the difference and highlight some of the advantages these structures have over unregistered entities.
Limited Liability Companies and corporations are both […]