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Monthly Archives: February 2019

Don’t Let Change Wreck Your Business: The Buy-Sell Agreement

By |2019-02-26T20:39:44-08:00February 28th, 2019|Business Formation, Business Planning|

Divorce. An unexpected death, disability, or retirement. An irreconcilable dispute. These triggering events may put your successful, stable business into a tailspin. Luckily, a buy-sell agreement can help you and your business be better prepared to handle these events. What is a Buy-Sell Agreement? A buy-sell agreement is a legally binding agreement between co-owners [...]

Transferring LLC Membership Interests Part 3—Involuntary Transfers

By |2019-02-26T18:36:12-08:00February 26th, 2019|Acquisitions, Business Planning, Limited Liability Company (LLC)|

An involuntary transfer of an LLC membership interest is just that—a transfer prompted by a creditor action or a triggering eventoutside of the member’s control. An individual or entity obtaining a membership interest because of an involuntary transfer usually cannot fully step into the shoes of the transferring member. This statutory protection—often called a [...]

Record Keeping for Your Business: What’s Required?

By |2019-02-20T20:59:39-08:00February 21st, 2019|Business Planning, Taxes|

Whether you are just starting up a new company or have a business that has been in operation for a while, good record keeping is an essential part of running your business. You are responsible for establishing an effective system to store and maintain your business records whether your small business is a sole [...]

Transferring LLC Membership Interests Part 2—Voluntary Transfers

By |2019-02-16T16:18:27-08:00February 19th, 2019|Business Formation, Business Planning, Contracts|

An LLC affords its members a certain amount of personal asset protection. Part of this protection hinges on the restricted transferability of LLC membership interests.  Restricted transferability protects the non-transferring members from creditors and unwelcome new members, which upholds the integrity and value of the non-transferring members’ membership interests. Most (but not all) LLCs [...]

I Need to Hire Someone for My Business; What Do I Need To Know?

By |2019-02-15T17:35:28-08:00February 16th, 2019|Business Planning, Financial, Taxes|

Most businesses try to grow – at least somewhat.  However, to grow or to step away from the business for a personal life, vacation, or other ventures, you’ll need help with day-to-day operations.  If you’ve never hired someone before - or it’s been a long time - don’t worry – here’s the information you [...]

Stay in Control: Good LLC Governance

By |2019-02-06T19:26:51-08:00February 9th, 2019|Business Formation, Taxes|

The LLC is a popular way to structure a business because it provides personal liability protection to the members-- like a corporation does to its shareholders--but without as many administrative formalities. But if you’re an LLC member, don’t let this lull you into complacency. As a business owner, you’re responsible for the proper governance [...]

Transferring LLC Membership Interests Part 1—An Overview

By |2019-02-05T11:43:13-08:00February 7th, 2019|Business Planning|

Say you are a member of an LLC. You own membership interests in the LLC. However, what if you want to leave the LLC? What if you get a divorce? What if you have creditors seeking immediate repayment? What can you do with your membership interests? The answer depends on how transferable those membership [...]

Does the “Corporate Veil” Really Protect Your Personal Assets?

By |2019-02-04T20:43:00-08:00February 5th, 2019|Business Formation, Business Planning, Litigation|

You may have done your homework and weighed your options. Perhaps you’ve even considered the tax and non-tax implications for common business entities. We bet you’re also intrigued by the protections certain business entities afford their owners. The “corporate veil” that protects personal assets of the business owners can make a corporation or limited liability [...]

8 Simple Cost Saving Measures for Small Business Owners

By |2019-02-01T17:55:26-08:00February 2nd, 2019|Business Planning, Contracts, Financial, Taxes|

All successful businesses do their best to save money, improve efficiency, and increase profits when and wherever possible.  This is especially necessary for small businesses on a tight budget. While there are numerous ways to save money, these eight cost-saving measures are among the easiest to implement: Bargain. Bargaining with vendors is one way to [...]

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