Voting Rights in LLCs: Who Has a Voice?

people voting in an llc

On average, 4 million new businesses are started each year in the United States. Many of those businesses are organized as limited liability companies (LLCs). Combining the benefits of a corporation and a partnership, an LLC protects its members’ personal assets from business liabilities, avoids double taxation, and provides flexibility regarding its operations, management, and financial and voting rights. 

Most Common DIY Contract Mistakes

people discussing contract mistakes

Small business owners often wear many hats. On any given day, they might dabble in customer service, human resources, accounting, bookkeeping, and legal matters. 

How Hiring Employees Increases Your Legal Risks

Hiring employee documents

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.

How to Choose the Right Business Attorney

man meeting his business lawyer

A skilled attorney is a critical part of any business owner’s advisory team. Business attorneys are equipped to assist you in handling a variety of tasks that can protect you from potential legal and business pitfalls, in addition to solving existing legal issues.

Non-compete Agreement: How Solid Is Yours?

image of a non-compete

There are many misconceptions and assumptions regarding the use and effectiveness of non-compete agreements. This is not too surprising considering that judicial enforcement of these agreements is very fact-intensive and situation-specific. There are no bright-line rules to help business owners determine whether a noncompete agreement will be enforceable, so it can be challenging to craft […]

How to Track Time for a Remote Employee 

worker being lazy

The COVID-19 pandemic has ushered in a wave of new remote workers. This shift in the way employers conduct business brings new challenges as they seek to comply with the Fair Labor Standards Act (FLSA) requirement of paying employees for all hours worked. In response, the Department of Labor released Field Assistance Bulletin No. 2020-5 […]

New Reporting Requirements for Corporations and LLCs in 2024 –Better know the rules and comply or face hefty fines! 

business owner on computer

The Corporate Transparency Act (CTA) requires that certain businesses disclose to FinCEN (Financial  Crimes Enforcement Network) information about the company, such as its beneficial owners and, in some cases, the name of the applicant who set up the entity. The term “reporting companies” describes who must file and follow reporting requirements.  You are a “reporting […]

Does Your Website Need a Privacy Policy or Terms of Use?

choices on a computer screen

The questions on most business owners’ minds are “What is a privacy policy?” and “Do I need them on my website?” Privacy policies and terms of use serve different purposes, but both are essential for any business that engages with customers via a website. 

What Is an S Corporation and Should I Form One?

coworkers talking over work

Contrary to popular belief, the S corporation is not a distinct entity type. According to the Internal Revenue Service (IRS), an S corporation is a corporation that has elected treatment as a pass-through entity for federal income tax purposes under Subchapter S of the Internal Revenue Code.