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Entrepreneurs are often rightfully proud of their businesses. They may have wishes for the business to stay in the family or have another individual or group take over the reins when they are ready to move on. Whatever the plan for the next phase of business...
One of the key benefits to most types of business formation is protection from personal liability. Business owners may choose an LLC, LP or corporation for various reasons, but all three generally protect the owners from any debts or lawsuits the business itself may...
The legal marketplace is changing. Attorneys are doing more than just practicing law, they are becoming entrepreneurs and starting their own practices in their preferred area of law. Recent data shows 23 percent of legal practitioners were interested in opening their...
There are many perks to owning your own business. You set the budget, expectations and goals -- but you also must assure that all laws are followed and tax obligations are fullfilled. For some, this is another perk. The ability to control these details may bring a...
The Internal Revenue Service (IRS) reviewed tens of thousands of small business tax returns in 2017.How will I know my business is the subject of an audit? The IRS always notifies the business through a mailing. Never by phone. 70.8 percent of all audits were...
The rise in online retail has undeniably shifted consumer behavior. While the change has led to high-profile declines for big-box retailers such as Sears and Toys-R-Us, does it make this the wrong time to invest in retail real estate?Like most real estate...
Successful entrepreneurs may have difficulty translating their business style into an effective leadership strategy. A few tips that can help business leaders provide quality leadership for their personnel include:Take time. This is a two-part tip. First, take the...
The Avalere Health and the Physicians Advocacy Institute (PAI) reports acquisitions by hospitals of physician practices increased 128 percent from 2012 to 2018. The group estimates hospitals acquired over 13,000 physician practices from 2015 to 2018. PAI estimates...
Business owners are preparing to file for taxes under a whole new federal income tax regime. The Tax Cuts and Jobs Act (TCJA) passed last year led to the biggest change to the tax code in decades. A number of these changes directly impact small and medium sized...
Legal tools can help the longevity of a family business. Two options to consider when aiming to keep a family business in the family include trusts and shareholder or buy-sell agreements.A trust: Reduce tax obligations and financial burden for future generations A...