For the love of your business

Articles to LIFT Your Life and Business

4 Advantages of Accepting Cryptocurrency As a Payment Option

With the proliferation of web-based mobile technology, consumers have come to expect a variety of digital payment options. From online payment platforms, such as PayPal and Venmo, to mobile wallet services like Apple Pay and Google Wallet, today’s business owners have a number of different payment systems to choose from. But perhaps the most innovative […]

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5 Events That Necessitate An Immediate Review Of Your Insurance Coverage

When launching a new business, it’s critical to invest in the proper types and level of insurance coverage to protect your budding company from liability. But like other foundational business systems, if your insurance isn’t regularly reviewed and updated as your operation grows, your coverage may prove inadequate, putting your business at serious risk. In […]

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4 Estate Planning Documents No Entrepreneur Should Be Without

Though most entrepreneurs understand the value of effective business planning, fewer are aware of the critical role estate planning plays in their company’s success. Yet considering what would happen to your business upon your death or in the event of your incapacity is one of the single-most important things you can do for your business. […]

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Make Sure You Actually Own The Work You Pay Contractors To Produce

While hiring independent contractors (ICs) offers a range of valuable benefits in terms of cost savings and convenience, it also opens your business up to some unique legal and financial complications. This is particularly true when it comes to your company’s intellectual property (IP).  Unlike employees, with whom you generally own automatic copyrights to everything […]

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Why would I want my LLC taxed as an S corporation?

Q: Why would I want my LLC taxed as an S corporation? -Tax Saver A: Dear Saver: Outside of personal liability protection, one of the biggest benefits of an LLC is the flexibility the entity offers for taxation. LLC owners, or members, get to choose how they want to be taxed: as a sole proprietorship, […]

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Protect Your Business With Restrictive Covenants

Employment agreements are a vital tool for laying out the specific terms and conditions of the employment relationship, so your employees and contractors understand exactly what’s expected of them while working for you. But employee agreements can also be used to prevent workers from harming your company after they leave your employment. Whenever an employee […]

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Questions and Answers About Sending 1099s For 2019

The end of the year is always a hectic time for business owners. Between managing your day-to-day operations, planning for the upcoming year, and dealing with the holidays, the period from Thanksgiving through the New Year can feel like a rollercoaster ride. Of course,  if you are properly handling taxes for your business, the end […]

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4 Legal Mistakes That Can Doom Your Startup

During the startup phase, it’s easy to get overwhelmed by the massive amount of work it takes to get your operation up and running. You’re so focused on the daily tasks needed to keep your doors open, it can be easy to put off administrative duties that aren’t aimed at bringing in revenue or attracting […]

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The New Tax Law Makes Hiring Your Kids Smarter Than Ever

One of the biggest advantages of running a family business is being able to employ your minor children. By hiring your kids, you have the opportunity to teach them the value of hard work, give them experience managing money, and allow them to save for their future. In turn, you get workers who have a […]

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What are the penalties for misclassifying employees?

Q: What are the penalties for misclassifying employees? -Concerned CEO A: Dear Concerned: Hiring independent contractors (ICs) can be a great way to save on labor costs and avoid the HR hassles that come with traditional employees. But misclassifying workers, even unintentionally, can lead to serious consequences, which could potentially destroy your business. In today’s “gig” […]

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5 Best Practices For Complying With Your LLC’s Administrative Formalities

Limited Liability Companies (LLCs) are a popular business entity with many entrepreneurs. Like corporations, LLCs offer valuable personal liability protection for their owners. Unlike corporations, however, LLCs aren’t required to adhere to the same burdensome record-keeping requirements and other corporate formalities corporations must follow. That said, while the administrative requirements for an LLC are far […]

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