You've poured your heart and soul into your business. You may have big plans of selling your business to a key employee when you’re ready to retire or transitioning leadership seamlessly to one of your children over time. But have…
If you own a business or are involved in a business, there's a crucial new law you need to know about: the Corporate Transparency Act (CTA). This legislation, aimed at combating money laundering and other financial crimes, has far-reaching implications…
In theory, a limited liability company (LLC) can last in perpetuity. However, the owners of an LLC should plan for the day when they are no longer there to run their business. This includes not only situations like retirement or…
Most business owners will tell you that the time they put into running their company makes it almost impossible to distinguish their professional life and their home life. For married entrepreneurs, this can create unique challenges. Not only do the…
It has been a tough couple of years for many small businesses, but, as the adage goes, what doesn’t kill you makes you stronger. Small businesses that survived the challenges of 2020 and 2021—the worst pandemic in US history, a…
For many employees, saving for retirement is usually a matter of simply participating in their employer’s 401(k) plan and perhaps opening an IRA for some extra savings. But, when you’re the owner of a business, planning for retirement requires proactivity…
For most business owners, employees, vendors, and customers are essential to keeping your business successful. When someone with inside knowledge about your vendors, employees, and customers leaves your company, your business becomes vulnerable to losing these critical assets to competitors.…
Just a year ago, businesses across the United States shuttered temporarily in response to the novel coronavirus. Some of these businesses could not weather the virus storm and closed for good. Now that COVID-19 vaccines are available, many businesses are…
Before launching a business, entrepreneurs spend a substantial amount of time and money researching and developing their products or services. They also spend time working with graphic designers and/or marketing professionals to create a brand name and logo related to…
Congratulations! Your business has grown and you are ready to hire your first employee. Where do you begin? What will the employee’s schedule be and how much will the employee get paid? Will your new hire be an employee or…