Business Formation – A Practical Guide to Legal Issues

If you are considering starting your own business it is imperative that you assemble a group of trusted advisors. At a minimum this group should include an experienced business lawyer and an accountant who can assist you as you begin your business. While there is no substitute for an individual meeting with an attorney […]

Corporate Formalities – Do They Really Matter? Absolutely!

I regularly meet with individuals who are starting a business and advise them regarding the formation of a separate legal entity to conduct their new business such as a corporation or a limited liability company (“LLC”). The use of a separate legal entity is important because if done correctly, it provides a way […]

Employee or Independent Contractor – What does it all mean?

If you are treating an individual as an independent contractor you should carefully review all the facts with your attorney to determine if your classification is defensible and to make sure you create and maintain documentation to support your treatment if you are ever audited. […]

Business Check-Up – Six Essential Areas to Review

The beginning of the year is a great time to stop and evaluate the operation of your business. The failure to pay attention to the legal details of any business operation can lead to some very expensive consequences. The following are six essential areas you should not neglect.

1. Are your annual reports up […]

A Trap for the Unwary: Debt Forgiveness is Income

If you owe money and your debt is “forgiven” (i.e. written off or reduced) by your creditor, this reduction in debt is considered taxable income to you. Really? Yes – in most cases this is true and is something that most people don’t know. The following is a typical conversation I have with prospective […]