Why Your LLC Needs an Operating Agreement
Having an LLC operating agreement can provide your business with many benefits and can help you avoid significant problems.
Why You Cannot Withhold Payment from Employees
Failure to pay employees could result in a lawsuit, an injunction, civil penalties, or even criminal penalties.
It’s Time to Say Goodbye: How to Close Your Business
The decision to close your business is not to be taken lightly. Business closures involve complex procedures that require time, energy, and organization.
Summer Is Here and the Sun Is Shining: Should Your Small Business Have a Vacation Policy?
If you offer vacation time to employees, a well written vacation policy will help to ensure that it works well for both your small business and your employees.
What Is a Business Grant and How Do I Obtain One?
A business grant is a form of financial assistance given to a company by a government agency or private organization. Grants, unlike loans, do not need to be paid back.
Key Person Insurance: What Is It and Do I Need It?
Key person insurance is a hybrid between business insurance and life insurance. Companies can take out this type of insurance on the lives of certain employees to cover the risk of losing “key” workers.
How to Talk to Your Family About Business Succession
Business succession planning is a strategy for passing on control of your company. For many family-owned businesses, this means transferring management and ownership to the next generation.
Hobby or Business: What Factors Does the IRS Consider?
The Internal Revenue Service (IRS), however, has its own rules for determining whether an activity is a business or a hobby.
What Happens When an LLC Member Dies?
In theory, a limited liability company (LLC) can last in perpetuity. However, the owners of an LLC should plan for the day when they are no longer there to run their business.
Business Ownership and Divorce: What You Need to Know
Divorce is rarely simple. When two people’s lives are intertwined—physically, emotionally, and legally—separating the individual strands can be a task akin to untying the Gordian knot. The longer a couple has been together and the more they share, the more difficult this task becomes. It can be even more difficult if the divorcing couple co-owns a business or one spouse owns a business.
