When buying or selling a business, obtaining an accurate valuation of what that business is worth is critical information. These days, when buying or selling a business, one must also consider whether the company’s website is being sold along with the business. If so, how much is the website worth? How does one valuate a website, and how does the value of the website compare or relate to the value of the business as a whole? Can the two factors even be considered separately? Clearly, there are many questions to …(read more)
On September 27, 2010, President Obama signed into law the Small Business Jobs Act, legislation that contains many provisions designed to make it easier to go into business.
Tax Benefits, Starting Now
Most of the provisions involve changes to the tax code designed to put more money back into the hands of business owners. For instance, the law temporarily increases the amount of qualified trade or business start-up expenditures which may be deducted from $5,000 to $10,000. Also, the phase-out threshold for these expenses was increased from $50,000 to $60,000, so businesses …(read more)
After criminal background checks, credit checks are probably the next most-often factor searched on prospective employees. It doesn’t matter whether the job is within the banking or finance industry either. As long as the provisions of the Fair Credit Reporting Act are followed (see Part II in this series), an employer may run a credit check and utilize the information learned in making a decision whether to hire or not.
It’s Not Just For Lending Anymore
Obtaining an individual’s credit report does more than tell you that person’s credit score. It also …(read more)
Limited Liability Companies (“LLCs”) are a form of business ownership which is a separate legal entity much like a corporation. An LLC is treated like a partnership for tax purposes and like a corporation for liability purposes. Characteristics of an LLC include the following:
The members of an LLC cannot be held personally liable for the debts of the LLC, unless the members have signed a personal guarantee for the debt.
The profits, losses and expenses of …(read more)
