For the love of your business

Articles to LIFT Your Life and Business

Cryptocurrency Exchange Goes Bankrupt Over Owner’s Mistake

Last week, we discussed three potential scenarios in which poor estate planning can cripple your business. However, the damage described in those three hypotheticals pales in comparison to what recently happened in real life to the owner of one of Canada’s hottest new startups. Gerald Cotten launched the cryptocurrency exchange QuardigaCX a little more than […]

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3 Ways A Lack of Estate Planning Can Cripple Your Company

When running a business, it’s easy to give estate planning less priority than other matters. After all, if you’re facing challenges meeting next month’s payroll or your growth path over the immediate term,  concerns over your potential incapacity or death can seem far less pressing. But the reality is considering what would happen to your […]

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How does alternative dispute resolution work?

Q: How does alternative dispute resolution work? -Leery of litigation A: Dear Leery: Alternative dispute resolution (ADR) is a process of settling disputes without resorting to litigation. ADR can be used in disputes of all kinds: employer/employee, business/consumer, and business/business. In some cases, courts require parties to use ADR before the matter can be brought […]

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The Tax Benefits of Hiring Your Children Just Got Better

Hiring your minor children to work in the family business is a great way to help them develop a solid work ethic, teach them money-management skills, and fund their savings for the future. But employing your children also comes with a number of valuable tax benefits that you might not be aware of. And following […]

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The Grave Risks of Using DIY Legal Documents

Need instructions for replacing your car’s spark plugs? Want to learn HTML? Looking to find the route home with the least traffic? You can find all of that—and just about anything else—with a quick Google search. Indeed, the amount of information you can gain from the Internet is staggering. But just because you can find […]

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4 Big-Time Benefits of Effective Business Systems

From payroll and project management to invoicing and inventory, business systems are vital to your organization’s efficiency and sustainability. Without effective systems, your team is likely to become bogged down by the countless small tasks they must complete on a daily basis just for your business to function. While many basic processes may not seem […]

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Friends With Benefits: Navigating Employer-Employee Friendships—Part 2

In the first part of this series, we offered three strategies to help you successfully navigate employer-employee friendships. Here, we continue with the final four.  Developing close bonds with your employees is all but inevitable. Indeed, being friendly with your team members can make the job more rewarding and enjoyable for everyone. But there’s a […]

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Friends With Benefits: Navigating Employer-Employee Friendships—Part 1

Because we spend so much of our lives working, it’s practically guaranteed that you’re going to develop close bonds with your employees. And this is a good thing. Having a friendly relationship with your team members based on mutual respect, care, and concern can make the job more enjoyable for everyone—and even boost performance and […]

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What is “private inurement,” and can it affect my business?

Q: What is “private inurement,” and can it affect my business? -Concerned A: Dear Concerned: First off, private inurement is something that only applies to nonprofits, so if you own a standard for-profit business, you won’t be affected. If you do run a nonprofit or are thinking of starting one, read on. The IRS stipulates […]

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4 Questions to Ask Before Investing in a Franchise

If you’ve always dreamed of starting your own business, but find the idea of building an entire operation from scratch too daunting, you might consider investing in a franchise. Since you’re getting an already proven business model and brand, purchasing a franchise can make the start-up phase quite a bit easier. In addition to getting […]

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8 Items to Include in Your Employee Handbook

If your company has (or plans to have) employees, you should definitely create an employee handbook. Handbooks ensure that employees are not only aware of your rules, but also the federal and state laws governing their employment. You can use the handbook to introduce your employees to your company and its culture, explaining what’s expected […]

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