Blog

National Veterans Small Business Week – Resources

As a veteran, you are entitled to various benefits to help jump start your business idea, or to help your current business grow and prosper.  Luckily, there are many options and programs available to veterans, whether it’s training programs for how to start a business, or specific loan programs with...

Corporate Compliance

When forming a legal structure and comparing an LLC to a corporation, a common conversation is regarding requisite corporate compliance.  That is the statutory obligations that we can’t contractually avoid.  For example, the requirement that a corporation hold at least an annual meeting to elect the board of directors and...

Legal Wellness Check-up for Small Businesses

The most common times we are initially contacted by potential clients is either at the formation stage or in response to an unforeseen ailment.  The later situations cannot always be avoided, but there are a few things we can do to identify early and intervene, or completely circumvent.  This week...

Tax Elections and Default Classifications for Eligible Entities

There are three possible federal tax classifications for U.S. business entities: Disregarded Entity; Corporation; or Partnership Depending on the legal structure of your business you may have an option to elect your tax classification.  A business entity that is not necessarily classified as a corporation under Reg, 301.7701-2(b) can elect...

Capital Contributions

A "capital contribution" is a contribution of money (cash) or property (assets) to a business in exchange for an equity ownership interest.  Each business owner (a member or partner) have a "capital account" which is a line item on a balance sheet as an equity account (not a separate bank...

Clear Communication and Employee Discipline

Having difficult discussions, especially in the work place is never enjoyable.  If not well planned you may walk away wondering “how was it received?” “what will be the broader effect?” "did I achieve a goal?"  If you did not approach the problem with a clear intent you may have made the...

Celebrating Small Business Saturday 2017

Tis’ the season to be spending.  In a matter of days, we have Black Friday, Shop Small Saturday, Cyber Monday and Giving Tuesday.  It is a challenge to budget accordingly and plan efficiently to make the most of this pre-holiday madness.  According to CNBC shoppers spent over $640 million dollars...

Small Businesses Surviving the Storm

For a city where I have never resided I have a lot of loved ones in Houston, TX, and even if I did not, during such a tragedy, it is human nature to want to help.  My initial instinct was to check in and make sure friends and family were...

Do I need a business license or D/B/A to do business?

Many business owners operate under a less formal organizational structure as a sole proprietorships or general partnerships.  However, they often do not realize that there may still be filing requirements for operating a business within your city of town.  These are often referred to as “doing business as” certificates. In...

Selecting a Legal Structure for your Business: LLC, LLP, S-Corp …?

What is a legal structure ?  A legal structure (sometimes referred to as an entity or business structure) is the legal formation of a business entity allowing you to operate as a business separate and distinct form yourself and providing you with additional protections and benefits.  There are a number of things to...