Starting a new business is a challenging pursuit. Part of what makes it so complicated is all the legal implications that come with starting a business. As a business owner, you want to make sure you have covered all your legal bases to avoid any fines, lawsuits, or—worst case—even jail time. Fortunately, there are plenty of […]
If your business is set up as a corporation or LLC, you have certain legal protections granted based on your business structure. However, if you don’t keep your business and personal expenses separate, you could reduce or eliminate those legal protections. An attorney can advise you regarding rules for these legal protections, specific to your […]
How to Set the Legal Framework for Your New Business. Not having a legal framework could cause your company to stall just as it begins gaining momentum. By dealing with these processes from the start, you and your business will be sailing smoothly into the more exciting phases of your journey, without being fearful of avoidable […]
Business founders take on significant risks when starting a small business venture, but much of this risk can be mitigated by ensuring legal requirements to starting the business are taken care of as early as possible. An attorney can advise clients starting a new business on how to choose the right entity and tax election […]
When considering different compensation amounts and timing, you must first consider the structure of your business. The IRS’s requirements for owner compensation are different for corporations, sole proprietorships, partnerships, and LLCs, so you’ll need to first determine what your legal rights and obligations are. Depending on your business’s entity type and whether you’re taking a […]