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Articles to LIFT Your Life and Business

5 Tax Tips for Small Business

According to SBA data, more than 79 percent of small businesses have no employees – meaning that a majority of small business owners are doing it all.  And when tax season rolls around, it can mean plenty of stress for owners of small businesses. A recent Washington Post column provided these five tax season tips […]

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Small Business Tax Reform Proposal Contains Drastic Changes

Representative Dave Camp (R-MI), the chairman of the House Ways and Means Committee and one of Congress’ top tax lawmakers, has released his proposal for small business tax reform and it contains a number of drastic changes to the current code. A Forbes article takes an in-depth look at the proposal: Section 179 Expenses.  Permanently […]

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10 Legal Tips for Starting Your Own Business

Whether the result of the recent recession or the desire by baby boomers to embark on a new professional path, new business startups are growing fast.  Here are 10 legal tips for entrepreneurs who are striking out on their own for the first time: Choose the right entity.  Decide if you will be operating your […]

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Top 3 Things Small Business Owners Need to Know About the Affordable Care Act

The Small Business Administration (SBA) has launched a new blog series to educate small business owners about what they need to now about the Affordable Care Act before it goes into full effect in January of 2014.  The new series tackles common misperceptions about the ACA; one post details the top three things small business […]

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Proposed Legislation Offers Big Tax Break to Entrepreneurs

A new bipartisan bill introduced in Congress – the Startup Innovation Act of 2013 – promises a big benefit to entrepreneurs via a new research and development tax credit. The bill, which was originally introduced last summer, was reintroduced in the Senate in late January.  A House bill that would mirror the Senate bill is […]

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What the Fiscal Cliff Tax Deal Means for Small Business

Congress passed the American Taxpayer Relief Act – aka, the fiscal cliff tax deal – in the wee hours of January 1, 2013, and President Obama is expected to sign the new legislation as soon as possible.   After the dust from the deal-making settled, the bill contains a mixed bag of both good and bad […]

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Why Estate Planning Matters for Small Business Owners

If you’re a small business owner, you undoubtedly spend countless hours juggling bills and balancing your books, not to mention all those extra hours you spend worrying about the future of the little business venture that grew and grew during the “good old days” before the recession that slammed small businesses. In fact, you’ve been […]

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How to Choose the Right Ownership Structure for Your Business

Many Americans are starting their own businesses these days, and may be confused about exactly what the best ownership structure is for their business.  The answer is, it depends on the type of business, how many owners are involved, and the financial situation for each owner. Here are some considerations when deciding which structure to […]

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How to Prepare for the Sale of Your Small Business

If you’ve made the decision to sell your small business, there are a number of things you will need to do in addition to consulting with a Creative Business Lawyer® to ensure the process goes smoothly: Set a realistic price.  Coming up with a realistic price for your business will entail some research.  Look at […]

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The Pros and Cons of Sole Proprietorships, LLCs and Corporations

Starting your own business?  One of the first things you will need to do is to decide what type of business entity is best for you.  There are pros and cons to each and it is advisable to consult with a Creative Business Lawyer® before you make your decision: Sole Proprietorship – nearly three-quarters of […]

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Retirement Plan Options for Small Business Owners

Creating an estate plan for your business is just as important as developing one for your personal assets.  Part of estate/succession planning for business is planning for the day you eventually retire and hand the reins of the business over to someone else, either through succession, inheritance or sale. Most small business owners want a […]

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