For the love of your business

Articles to LIFT Your Life and Business

Your Family Business Legacy Matters Enough to Do These Three Things

Your family-owned and run business can be the greatest gift or the greatest burden to the people you love, if and when something happens to you. If you’ve planned well and properly for your business to be continued, managed or sold, it will be the gift that keeps on giving and shows your family just […]

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Partnerships and LLCs, Take Heed of New Tax Law

Beginning with tax year 2018, all partnerships and limited liability companies (LLCs) taxed as partnerships will be affected by a new federal tax audit law. In 2015, the Bipartisan Budget Act repealed the earlier audit system, known as TEFRA, and replaced it with entirely new taxation audit provisions. It is important for those affected by […]

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Do your family, friends or spouse see your business as a hobby and not a real deal business venture?

If you are relatively new in business, you may find that one of your biggest challenges is facing the reality that the people in your life aren’t taking your entrepreneurial endeavors seriously. This can show up in a variety of ways which undermine your success, including: Interrupting you when you’re trying to focus on your […]

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Important Deadline March 15 re Your Business Entity That Could Save Thousands on Next Year’s Taxes

If you have a newly incorporated LLC or Corporation, you only have until March 15 to elect S-Corporation status for the 2016 tax year, using IRS Form 2553. This is important because there could be significant tax consequences to you, if you do not elect for S-Corporation status. As the owner of an LLC interest, […]

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How Do I Keep Track of All These Tax Deadlines?

If you own a business, particularly if it is a new business, you are probably concerned about how to track tax deadlines.  Fortunately, the Internal Revenue Service has developed several methods to help with this very problem.  First, though, you must know which taxes you are required to pay. Which Taxes? The tax and information […]

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Taxes for the Self-Employed

Going into business for yourself means learning about a lot of things, and not all of them are necessarily fun.  Take taxes, for example.  Unless you’re an accountant, dealing with the tax issues that come with your business is probably not your favorite task.  But once you get the hang of it, it really isn’t […]

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Different Types of Business Entities

So you’ve decided to start a business. It’s a very exciting time, but fraught with many decisions. One of the first, which can impact everything from taxation to liability, is the choice of a business entity. Should you opt for a traditional sole proprietorship, a partnership, a corporation, or an alternate business entity? Today we […]

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Ridesharing: Who Cares Whether Drivers Are Employees or Independent Contractors?

Ridesharing companies like Uber and Lyft have been front and center in recent media stories and court decisions. All across the country, drivers have brought lawsuits arguing that they are employees of these companies, rather than independent contractors. If you own a business and think these stories have no relevance to you, think again. What […]

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Asset Protection for the Small Business Owner

According to the U.S. Small Business Association, small businesses create almost two of every three jobs in the U.S. every year, and half of working Americans are either owners or employees of a small business. The SBA advises entrepreneurs to seek counsel while in the initial phases of getting a business off the ground. As […]

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Starting a New Business? Consider These Legal Tips and Tricks for Rapid Success!

Most entrepreneurs feel overwhelmed by all of the decisions that must be made when they are first starting a business. Many of the initial decisions you make can have long-lasting consequences and impact on your ability to grow, so you want to get it right! Below are a few tips to consider when launching your […]

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Why Every LLC Needs an Operating Agreement

Many business owners make the choice to operate as a limited liability company (LLC) for the personal liability protection this business entity provides. Beyond that, they may not give much thought to creating an LLC operating agreement since most states have LLC laws with default provisions that dictate how the LLC will be managed. However, […]

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