Should you set up a corporation or LLC before you start trying to deduct expenses? A recent case suggests you should. Many think that they can deduct all of their start up expenses before formally incorporating a business. But in Carrick v. Commissioner of Internal...
Which is Best? Choosing the right entity can be one of the most important decisions a business makes. Business owners and investors may find themselves asking which to pick, LLC vs Corporation. To help make your decision a little easier, we’ve compiled a list of...
By Gerri Detweiler After surviving several tumultuous business partnerships, Susan Nilon has learned to be more skeptical and cautious. In the past, she admits she was so excited about business possibilities that she “didn’t pay attention to red flags.” She and her...
Delaware's New Rules Are a Cost To Consider When Forming Your Entity Delaware recently increased the various fees assessed by their Secretary of State as Annual Franchise Tax Fees for Delaware corporations. While the changes do not apply to Limited Liability Companies...
Articles of Incorporation act as a charter to establish the existence of a corporation in the United States, and are filed with the Secretary of State where the business entity is doing business. They are sometimes referred to as the certificate of incorporation or...
Could a business name affect your personal liability, business credit or even your ability to run your business at all. The answer to all the above is, "yes." Read on to determine if your business name sets you up for success, or trouble down the road. 1. Is the Name...
In the shuffle of setting up your startup, ensuring all legal requirements are properly handled can seem like just another overwhelming chore, something to figure out later, or - worst of all - something that never gets done and you hope goes unnoticed. Many new...
When looking to start a business or protect investments you have several options in the type of entity you can form. As with anything, there are advantages and disadvantages to limited liability companies. Advantages It limits liability for managers and members....
If you thought Sole Proprietorships were bad, just wait. The General Partnership really is the ugliest entity. A General Partnership offers no asset protection and doubles the liability because you are also responsible for your partner's mistakes. Unlike a Sole...
By Garrett Sutton, Esq. Just as with so many other things in life, it takes two to buy a business. A buyer and a seller are the key ingredients. Brokers, accountants, lawyers and other experts make sure everything is in the right measure and you don’t get burned. But...