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LLC Formation

Wednesday, February 6, 2019

When Should You Reach Out to Your Small Business Attorney During the Life Cycle of Your Business?

A good rule of thumb is to hire an attorney on retainer and resolve potential issues before they arise. This list is not exhaustive, but it will give new business owners an idea of some of the legal issues their businesses may face. Contact an attorney during these points in the life cycle of your small business:


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Tuesday, November 20, 2018

Small Business Law Blog: Top 5 Mistakes Small Businesses Make

This is the legal edition of the top 5 mistakes that our firm has seen small businesses make.

5. Relying on your accountant for legal advice

We love accountants, don’t get us wrong. Lawyers and accountants go together like turkey and stuffing. (Can you tell Thanksgiving is on our minds?) But to be candid, we have also seen many businesses rely on the advice of their accountants to their detriment.


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Tuesday, November 13, 2018

Small Business Blog: LLC Taxation FAQs

Many first-time business owners confuse business entities from their tax classifications. And for good reason. In this article, we will give an overview of the difference between a business entity such as an LLC versus its tax classification. Remember that for tax questions, you should always seek out the advice of a tax professional, and the information here should not be construed as advice specific to your situation.


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Tuesday, August 21, 2018

Small Business Blog: The importance of keeping and maintaining records in a business

By Joseph Kang 

Every great business comes with great responsibility. It’s not a verbatim quote from our former president, but regardless, it’s true. Consistent and accurate recordkeeping, while not glamorous, is essential to running a smooth business operation. By maintaining proper documentation of your business’s operations, transactions, meetings, and members, you will be well equipped to handle the rocky waters when they come. 


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Tuesday, August 7, 2018

Small Business Blog: Why you should form an LLC

By Joseph Kang

The most important feature of becoming a limited liability company (LLC) is having limited liability in your business. The definition of liability is the state of being responsible for debts or other financial obligations. LLCs provide its members with protection from creditors by making their businesses a separate entity from the individual owner(s). Why is it important to not be liable for one’s business? It is so that you, the business owner, are not responsible for the debts and lawsuits of your company. A member of an LLC has a safeguard from creditors and lawsuits to shield his or her personal assets.


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Tuesday, June 12, 2018

Small Business Blog: Why you don’t need to fear the paperwork

 

We know what it’s like to be a business owner. You begin to get mail from the IRS, the Secretary of State, the Department of Taxation and Revenue, the Department of Labor, etc. It seems like everybody has something to say about how you are to run your business. Even federal agencies you thought had nothing to do with your business such as the Securities Commission, Federal Communications Commission, and the Environmental Protection Agency have a regulation you must follow. The truth is that your business does have legal obligations to these administrative bodies. What’s not true, however, is that you need to be afraid of working with them.


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Tuesday, May 1, 2018

Small Business Blog: Businesses need both accountants and attorneys

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Some business owners are intimidated by the cost of working with an attorney to form a new business. In fact, they may forgo professionals altogether to take a DIY approach to forming a business. If you have any risk of getting a lawsuit or an audit, which all businesses do, you should work with an attorney from the onset and not when things have already gone awry.


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