Business Law

Protecting The Business Owner

Most business owners form an entity through which the business is operated.   Any of the following may have been formed when the company was started:  a corporation, a limited partnership, or a limited liability company (LLC).  One of the reasons to form an entity is to protect you, the business owner, in your individual capacity, […]

Business Law, Risk Management

CHOICE OF ENTITY AND STRUCTURE OF SALE

The purpose of forming an entity and setting in place an agreement between parties is to protect your client’s business and family assets. There are many variables and many options available when forming an entity. However, to properly represent your client, it is necessary to fully understand the intentions of the parties involved and to […]

Business Law

Paycheck Protection Program (“PPP”)

The Paycheck Protection Program (“PPP”) was created under the Coronavirus Aid, Relief and Economic Support Act, which was signed into law on March 27, 2020. The PPP authorized up to $349 billion in forgivable loans to small business during the COVID-19 crisis. We have had communications with several of our clients about this program and […]

Business Law

Trademarks – An Important Asset

Your business may use a word, phrase or logo to provide instant recognition and set your company apart from your competitors.  It is important to protect these assets with a trademark in order to secure a long-term competitive advantage and protect against unfair competition.  Without a trademark, a competitor can use your company name or […]

Business Law, Trademarks

Should I Form a Company For My Business?

How many times have you heard, “you need to incorporate!  You need to form a limited partnership (LP) or a limited liability company (LLC).  It offers asset protection, and protection from creditors and lawsuits.  It gives you better tax planning opportunities.”  All of those statements are valid, however, a lot of people don’t know why.  […]

Business Law

Changes to Partnership (or LLC) Tax Audit Rules Require Consideration

Section 1101 of the Bipartisan Budget Act of 2015 changed the rules relating to the federal tax audit of partnerships. The new rules are effective for tax years beginning after December 31, 2017. For purposes of the law, it also applies to LLC’s taxed as partnerships for federal income tax purposes. The new rules replace […]

Business Law

Buy-Sell Agreements

When a business is owned by more than one individual, the owners never think about the death, disability, or divorce of an owner, or even that another owner might quit.   How do you deal with these situations?  If an owner dies, becomes disabled or quits, the other owner(s) traditionally do not like the idea […]

Business Law