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, 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, 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 29, 2018

Small Business Blog: How does your business classify its workers? (employees vs. independent contractors)


The distinction between employees and independent contractors is not always clear. The consequences of classifying a worker as an independent contractor can result in either a huge tax-saving boon or devastating economic losses for the employer. As a business owner, you may be surprised by the frequency in which this issue arises. Whenever you hire an intern, a part-time worker, a full-time worker, a graphic designer, a cleaning service, a business consultant, or even accept volunteers, you will be faced with this question. Here we discuss when you should classify a worker as an employee and when you should classify the worker as an independent contractor.

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Tuesday, May 15, 2018

Small Business Blog: Selecting the right legal entity for your business

When forming a business, choosing a business entity should be next on your list of things to do right after choosing a business name. This can be straightforward or complex depending on your business. If you are a new business owner, seek out legal counsel to make sure you are selecting the business entity that is best for you.

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Tuesday, May 1, 2018

Should Independent Contractors Form an LLC or an S-Corp? (Tax Reducing Strategies for VIPKID Teachers)



Independent contractors are rightfully concerned about taxes taking a large chunk of their earnings. If you are an independent contractor, you are taxed at a higher rate than an employee. You are taxed a personal income tax as well as a self-employment tax (Social Security and Medicare). This is approximately 30%, but it could easily be more or less depending on your personal financial situation and the state in which they are located. Always consult with a tax professional.

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