5 Signs Your Business Dispute Is Headed for Litigation

Just like some colds turn into pneumonia or something else more serious, business disputes can also take a turn for the worse - they can head to litigation. Litigation is expensive, time-consuming, and may not even manage to settle the actual dispute in the long run. Thus, it is very important to know the signs of when your business dispute is heading in this direction to be able to either head it off at the pass or Read More

5 Potential Issues That May Arise After the Final Closing of a Business Purchase

You are finally the proud new owner of a business and are ready to move full speed ahead into the glorious future you have set up for yourself. Then why is the IRS all of a sudden knocking on your door? Why are you getting served for lawsuits from people you’ve never heard of? Why did these issues seem to spring up from nowhere? The most likely answer is that your solid business actually had a lot of skeletons in its Read More

5 Common Causes of Shareholder Disputes

Shareholders come in all shapes and sizes. They range from municipal pension funds with millions of shares of Apple to your Aunt Jane who owns stock in her family’s private company. Regardless of how many stocks they own, the pension fund or your Aunt Jane have the potential to get involved in a shareholder dispute with the owners of the company or other shareholders. What is a shareholder dispute? Simply put, it Read More

What the UPL?! – What CPAs Need to Know About the Unauthorized Practice of Law

After many requests from you, we have decided to bring you: What the UPL?! - What CPAs Need to Know About the Unauthorized Practice of Law As a CPA, from time to time your clients request documents from you that dip into legal work (as attorneys, we face the same dilemma, having to disclaim the fact that we can't give tax advice all the time). Because you help set up legal entities, how do you know when you're Read More

Do the Due: The Importance of Conducting Due Diligence in a Business Purchase

Purchasing an existing business can be a substantial outlay of resources including time and money. Just like you would take a used car to the mechanic to have it checked out before you buy it, you should always do your due diligence on the business that you are looking to purchase. But how exactly do you do that? You’ll need to do a lot more than just kick the tires. Here are some things to look at and keep in Read More

Which Type of Business is Right for You?

Congratulations on taking the first step towards becoming a business owner. After making the all-important commitment in starting a business, you must also simultaneously decide what form you wish for your business to take. In determining what form of business you wish to undertake, there are different factors to take into consideration. Most importantly, determining what type of business structure you choose can Read More

Common vs. Preferred Stock: Know the Difference as Business Owner

If you have set up a corporation, congratulations! One of the key steps now is to ensure that you acquire the proper capital. A popular way of acquiring capital is by issuing shares. However, different classes of shares can exist, and being uneducated on the type of shares to issue can be detrimental to the business. Therefore, you must remain educated in knowing the difference in share classes. The most common Read More

Promoter Liability: When You Remain on the Hook Once the Company Is Formed

Before setting up a business, whether it be a partnership, an LLC, a corporation, or the like, you are required to enter contracts to ensure smooth beginnings for your new venture. However, not many realize that you can remain individually liable on these contracts regardless of the form of business you set up. In legal terms, you were a promoter for the business before it even came into being. A promoter is the Read More

Understanding ERISA

Whether you’ve heard of ERISA or not, if you are a working adult there is a strong chance that this federal law has major implications for your future—namely, your retirement. ERISA stands for the Employee Retirement Income Security Act of 1974, and it impacts millions of Americans. Its most basic purpose is to set the minimum standards by which pension and health plans of private companies must operate so as to Read More

Partnership Property: What Is Yours and What Is the Partnership’s?

Entering a partnership with a partner you trust is a great step towards making a profit. However, running a partnership is not as simple as it sounds, and most of what is entailed in a partnership is often overlooked. One such area that is often overlooked is determining what exactly belongs to the partnership and what remains the property of each single partner? This questions becomes key especially when the Read More