23rd September 2009
We are a nation of do it yourselfers. This is true whether we are trying to fix the sprinklers in the yard or forming a business entity. Many people make a noble attempt to form their own limited liability companies these days, but then don’t have any i...
17th August 2009
The limited liability company is touted for its tax flexibility and asset protection benefits. While valid, single member limited liability companies are ripe for alter ego claims, which means the owner losses the asset protection benefit and becomes pers...
03rd June 2009
The single member LLC is one of the more popular choices for small businesses. It is often touted as the perfect business entity, but there are definitely some areas of concern that a person forming the entity should know about. One has to do with the iss...
12th February 2008
Death and taxes are those two things you can never escape. When forming a corporation, making your tax year designation is a fundamental step you need to take carefully.
Taxes are defined by something magical known as the fiscal year. It is a 365 day ...
12th February 2008
The legal system comes in categories and layers that most people don’t grasp at first. One of the layers has to do with how corporations are regulated and leads to the odd situation where many corporations are designated as “foreign” even if they ar...
11th February 2008
Corporations are valued for a number of reasons and the shield against liability is certainly a big one. Given this, you really don’t want to inadvertently breach your corporate shield.
What is the corporate shield? It is the barrier that is put up ...
07th November 2007
As most know, you have been able to obtain an EIN online through the IRS for new businesses. The process was fairly confusing, however, because the IRS essentially just put a form online. That has all changed.Just so we are clear, EIN stands for employee ...
22nd August 2007
Given the fact that the threat of getting sued is on just about every business owner’s mind, it is hardly surprising that most businesses are held in the form of a corporation or limited liability company. While this makes sense, how to actually form an...
22nd August 2007
The corporate entity is a very popular one with most businesses. Although traditional “C” corporations are frowned upon for small businesses, “S” corporations are viewed more favorably.
So, just what are “S” and “C” corporations? The te...
26th July 2007
Once you register a corporation in your state, you must go ahead and capitalize it. This raises a host of questions regarding the best way to do it and potential risks of getting it wrong.
First things first. Any discussion of capitalization needs a d...
26th July 2007
Most shareholders believe a corporation protects them from personal liability. This is generally true unless alter ego is successfully asserted.
Alter ego is an equitable claim that a corporation should be set aside in a lawsuit and the shareholders h...
26th July 2007
Deciding to incorporate is usually a function of seeking to protect oneself from the risks of doing business by employing a corporate shield. Ah, but can that shield be penetrated? Yes!
The internet is an amazing part of our lives, but it has created a...
19th July 2007
The limited liability company is a popular business entity for small businesses. Here are some common questions and answers regarding the entity.
LLC stands for limited liability company. The entity was first created in Wyoming in the late 1970s, but ...
01st July 2007
Many sites put up privacy policies without giving them much thought. Once up, they are often forgotten about even if the policy is later changed. This can lead to disaster as one recent case showed.
You probably are not surprised to learn that lying i...
27th June 2007
It goes without saying that the LLC is the media darling when it comes to choosing an entity for small businesses. In some cases, however, an LLC is at a disadvantage compared to an S Corporation.
Originating in the late 1970s in Wyoming, Limited Liab...
