Determining whether to start a business is a major life decision. For small business owners, deciding when and how to sell the business is arguably even more consequential. Before selling a business, the owner is likely to spend many hours and even days worrying and considering the options: Is the market right? What price should…
The key to a successful business is having the right people in place, being financially knowledge, having effective processes, and a well-researched business plan. According to the Bureau of Labor Statistics, approximately 20 percent of businesses fail in their first year, and 50 percent fail by their fifth year. Forming and running a business is…
The year 2020 has been a continuous lesson in the need to prepare for the unpredictable. From the pandemic to natural disasters, businesses have faces numerous challenges that could force them to close. The most common emergencies that businesses typically face fall into three categories: Natural disasters such as floods, fires, and earthquakesMedical emergencies such…
Attorney – Coleman Taylor Congress approved the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) and President Donald J. Trump signed it moments ago. You can check yesterday’s post for details of the bill as there were no changes from the Senate’s version. At this early stage this means many of our clients…
Attorney – Coleman Taylor The Senate voted 96-0 last night on its Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). This sets the table for the House to vote on the Act, hopefully sooner rather than later. Assuming this, or a substantially similar version of the bill, gets signed into law within the…
Attorney – Coleman Taylor As Democrats and Republicans seem to have reached an agreement for a “Phase 3” COVID-19 bill, the implementation of a large-scale expansion of the Small Business Administration (“SBA”) Section 7(a) Loan Program appears to have widespread bipartisan support and should pass in some form within the next few days. The existing…
You and your spouse live together, you work together, and chances are you spend a lot of your free time together. Having a successful marriage and business takes a lot of hard work and dedication but can also be among the most rewarding things in life. To help keep you on the right track, here…
Information is instantaneously available due to the rise of the internet. Additionally, many services that were not available in the past, including do-it-yourself (DIY) legal forms also exist. As a result, it is tempting to think that the forms provided by these DIY services can be a low-cost substitute for the services of an attorney….
With the fall season upon us, it’s an excellent time to review your affairs. Below is a checklist to ensure your planning meets your needs and is up-to-date: When was your power of attorney last updated? A power of attorney is a valuable legal document, no matter what the circumstance. Not only is it flexible…
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 and strategy. It’s not just the dizzying array of choices for retirement accounts, there’s also…