Posts Categorized: Business Law

4 Factors To Consider When Choosing a Business Entity – Part 2

by Tara Cheever ~ Attorney at Law August 27, 2021 Business Law, Tax

When starting a business, you have to make a ton of different decisions. From deciding what to name your company to hire employees, getting your business off the ground comes with a nearly endless number of decisions.

Last week in part one, we discussed the first two of four leading factors to consider when selecting your entity, and here, we cover the final two.

Properly selecting, setting up, and maintaining your business entity is far too important of a task for you to try to handle all on your own. We offer you trusted advice on the most advantageous entity for your particular business and then help ensure that your entity is properly set up. We can also provide you with sound business systems to make your business more efficient and establish a clear separation between your business and personal finances, which is a crucial part of maintaining your entity’s liability protection. READ MORE

4 Factors To Consider When Choosing a Business Entity – Part 1

by Tara Cheever ~ Attorney at Law August 20, 2021 Asset Protection, Business Law

When starting a business, you have to make a ton of decisions. Deciding what to name your company and hiring employees, what kind of products or services you should sell, and how to fund your operation, getting your business off the ground comes with a nearly endless number of decisions.

all these decisions, perhaps none is more important or has a more significant impact on your success (or failure) than your choice of business entity structure. Indeed, the entity you choose for your business will affect everything from the amount of taxes you pay and what kind of records you are required to keep to how vulnerable your assets are to lawsuits incurred by your company. READ MORE

Benefits of Having Your Business Donate to Charity

by Tara Cheever ~ Attorney at Law July 30, 2021 Business Law, Charitable Giving, Tax

Giving money to charity might seem counterintuitive to those running a for-profit company. However, it is important to keep in mind that charitable giving can not only make a big difference to the recipients of your generosity, but it can also provide a net gain to your business. In addition to the potential tax advantages of charitable giving, donations have been shown to boost employee morale and productivity, improve a company’s brand image, and build customer relationships. READ MORE

What You Need to Know about Hiring Seasonal Employees

by Tara Cheever ~ Attorney at Law July 16, 2021 Business Law, Tax

A lot has changed since last summer, but the same federal and state laws still apply to employers that hire seasonal employees. If your business is considering bringing on summer help to handle an increased workload, you may need a refresher on navigating benefits, taxes, overtime, pay, and employment of teenage workers. READ MORE

How to Maximize Your Startup Cost Deductions

by Tara Cheever ~ Attorney at Law July 9, 2021 Business Law, Tax

Coming up with a solid concept for a new business and working to get your operation off the ground can be an expensive undertaking. But the good news is that you can write off a number of the expenses involved with the startup process. READ MORE

Questions & Answers On COVID-19 Tax Changes for 2020—Part 2

by Tara Cheever ~ Attorney at Law October 21, 2020 Business Law, Tax

Last week in part one, we answered questions about tax changes offered by the Paycheck Protection Program (PPP) and the Employee Retention Tax Credit (ERTC). Here in part two, we’ll wrap up this series by answering questions about the Economic Injury Disaster Loan (EIDL) and four additional tax breaks offered by the CARES Act that could save your business even more on your 2020 taxes. READ MORE

Questions & Answers On COVID-19 Tax Changes for 2020—Part 1

by Tara Cheever ~ Attorney at Law October 12, 2020 Business Law, Tax

Throughout 2020, Congress passed multiple pieces of legislation—most notably the Coronavirus Aid, Relief, and Economic Security (CARES) Act—offering numerous forms of tax relief to help businesses like yours deal with the economic fallout of COVID-19.

That said, these new laws have also created a tangled web of new tax and accounting changes that can be quite challenging to keep track of. To help you sort through all of the new programs and ensure your business takes advantage of the full range of tax breaks available, in this two-part series, we’ll provide answers to some commonly asked questions about the coronavirus-related tax changes for 2020. READ MORE

Is It Time to Go Solo(preneur)?

by Tara Cheever ~ Attorney at Law July 11, 2020 Business Law, Estate Planning

There’s nothing like a major change in the economic climate to make you rethink your day job. “Business as usual” currently means a large element of uncertainty about what the future holds for your working life. Whether you’ve lost your job, had your hours cut, or have seen these things happen to people you know, your feeling of security has likely taken a hit. And, maybe that can be a good thing, something that calls you to start taking action. READ MORE

How To Get Access to Your COVID Stimulus Money

by Tara Cheever ~ Attorney at Law April 7, 2020 Business Law, Estate Planning

On March 27, President Trump signed a $2.2 trillion stimulus bill into law that will hopefully provide some relief for many, perhaps including you. The CARES Act (Coronavirus Aid, Relief, and Economic Security Act) sends money directly to Americans, expands unemployment coverage, and funds loans and grants for small businesses. So let’s look at how you can access these funds. READ MORE

The Cost of Misclassifying Employees as Independent Contractors

by Tara Cheever ~ Attorney at Law September 22, 2018 Business Law

State-level studies show that between 10 and 20 percent of employers misclassify at least one employee as an IC, and you can be penalized regardless of whether or not you did it intentionally. Given this, you should carefully scrutinize all of your workers and have the proper contracts in place to shield your business. Fortunately, with legal guidance from me, you can easily avoid these risks and stay totally compliant. READ MORE

Rewarding Your Employees By Giving Them the Business

by Tara Cheever ~ Attorney at Law August 24, 2018 Business Law, Estate Planning, Retirement Planning

Retiring from your business can a tough decision. To ensure that what you have built continues on, there needs to be a plan for succession. For some people, they have spent years grooming a child or other family member to take over, wanting the business to stay in the family. Others look to sell to a third party for a quick way out that will also give them a nest egg for their next phase of life. However, there is a third option–transferring the business to your employees. READ MORE