Converting Your LLC to a Corporation: What You Need to Know
The limited liability company (LLC) is one of the most commonly used business entity types. For many businesses, forming an LLC provides significant benefits, including flexible ownership arrangements and governance, as well as strategic tax planning. However, as a business develops, it sometimes becomes necessary to consider whether the way the entity is organized best […]
Can I Provide Services Instead of Capital to a New LLC?
Small business owners put their blood, sweat, and tears into ensuring the success of their company, which, though difficult to measure, are no less valuable than capital contributions. At the same time, if you are investing your time and energy into a limited liability company (LLC), you should establish a method of valuation for your […]
How to Remove a Member of an LLC
As a business grows, its ownership structure may change and an owner may need to be removed. Removing an owner of a limited liability company (also known as a member) may become necessary if a member retires, dies, changes career, commits a breach of conduct, or has a dispute with other LLC members. When members […]
Business Licenses and Permits: What You Need to Know to Start Your Business
Small business owners are no strangers to government regulations. There are many requirements that businesses must be aware of and comply with, including business license and permit rules. Most businesses must obtain licenses or permits, so it is important for each business to know which ones it needs. Business operations are regulated at the federal, […]
Changing Your Business’s Legal Structure
Over time, your business can undergo significant changes. What may have started as a humble, one-person operation can grow into a more complex company, with multiple owners, employees, an evolving mission statement, and increasing risks. As the scope and goals of your business shift, an accompanying change in business structure might be warranted. There are […]
Considerations Before Becoming a Minority Owner
Becoming a minority owner in a business can give you the opportunity to help a business grow and share in its success without the management responsibilities. Minority owners may be brought in to facilitate growth, perform acquisitions, or achieve other strategic goals and often provide valuable expertise in addition to the capital investment they make […]
How to Resolve Deadlocks in Your LLC
Membership in a limited liability company (LLC) may come with voting rights. Member voting rights are addressed in the LLC operating agreement, which typically provides that LLC members must vote on several issues that are material to the continuance of the business. A unanimous or majority vote may be required depending upon the nature of the matter voted on.
How Hiring Employees Increases Your Legal Risks
When hiring a new worker, companies have two choices: bring a new employee on board or hire an independent contractor. One of the main benefits of having employees is that you have much more control over the work they do. You can train them how you want, specify the hours they work, and require them to work only for you.
Benefits of Having Your Business Donate to Charity
To donate to charity might seem counterintuitive to those running a for-profit company. However, it is important to keep in mind that charitable giving can not only make a big difference to the recipients of your generosity, but it can also provide a net gain to your business. In addition to the potential tax advantages […]
Considerations for Paying Employees: What to Know about Setting Wages and Salaries
woman paying employees
