There are many reasons business owners close up shop, including retirement, starting a new venture or, hopefully, because they’ve won the lottery. No matter what the reason, it’s important to diligently wind down a business before moving on.
Here are five steps to take:
An extraordinary number of laws, rules, and regulations govern businesses and their employees. A small business, however, may be exempt from one or more of them depending on its number of employees. For example:
Discrimination Laws. Small businesses may be exempt from Title VII, the Continue reading
An operating agreement is a contract that controls your LLC’s operations as well as member interaction with each other and with the LLC. You may think that an operating agreement is not necessary for your single-member LLC – after all – why make an agreement with yourself?
Is the Continue reading
Starting a new business can seem overwhelming – especially when you’re doing it alone. Creating a business plan will allow you to refine incomplete ideas, address areas you may have not yet considered, create a map so you know what to do next, and increase credibility for bank loans Continue reading
Many businesses prefer to hire independent contractors because there’s often less overhead and fewer expenses (i.e. taxes). However, classify an employee as an independent contractor and you’re in big trouble. Here’s how to legally differentiate between the two.
Who Controls the Worker?
Twenty years ago, the Roth IRA first became available to investors as a financial tool for their estate planning needs. These accounts have maintained their popularity because unlike their traditional IRA counterpart, a Roth IRA provides account owners tax-free income during retirement. Continue reading
Preparing your company for your incapacity or death is vital to the survival of the enterprise. Otherwise, your business will be disrupted, harming your customers, employees, vendors, and ultimately, your family. For this reason, proactive financial planning — including your business Continue reading
The new tax legislation raises the federal estate tax exemption to $11.2 million for individuals and $22.4 million for couples. The increase means that an exceedingly small number of estates (only about 1,800, nationally) will have to worry about federal estate taxes in 2018, according Continue reading
When a spouse passes away, thinking about “the estate” might be the last thing on your mind. And while it’s necessary to give yourself ample time to process the loss of your partner, it’s also imperative you talk with your estate planning attorney sooner rather than later — or you Continue reading
Most people understand that if they want to sell their house, then in order to get the best sale price, a lot of work that needs to be done before it’s listed on the market. Maybe the house needs a new roof, a fresh coat of paint, or at the very least a good de-cluttering and staging. Continue reading