by Joseph YoungHolding corporate meetings, writing corporate minutes and recording corporate resolutions is perhaps the most neglected duty by small business owners and operators. As a company director, officer, or shareholder it is your obligation to see to it that accurate and complete minutes are kept. In most states, it is also the law.
Why? Because […]
by Jonathan CooperOver the last few years, e-mail has largely replaced “snail mail” as the standard means of communication, as its speed and ease of use are vastly superior (not to mention more cost-effective and environmentally friendly). This revolution is not without its drawbacks, however.
First, almost everyone I know has, at one time or another, […]
by Jonathan CooperUnlike large corporations, who have in-house counsel, a small business is confronted by difficult choices when faced with the need for legal counsel - which firm do you hire? Do you look for a big firm or a small firm? In order to assist the small business owner in making these decisions, I […]
by Mr Leigh EllisPrivity of Contract
The principle that a person can not enforce obligations under a contract to which he is not a party to was established in the case of Tweedle v Atkinson (1861) 1 B. & S. 393 where A promised B that he would pay a sum of money to Bs son, […]
by Stephen NelsonNew small business owners often consider the incorporation option, which is logical. Incorporating a small business usually reduces the business owner’s legal liability, and also saves the owner, as well as any outside investors, a sizable amount of taxes.
Sometimes business owners will work with an attorney or accountant to get their help […]
by Stephen NelsonSome business owners assume that a traditional corporation, or “C corporation,” provides a clever opportunity for saving money, investing and growing wealth. Predictably, these business people do their investing inside C corporations.
On the face of it, this wealth-building gambit seems to make sense. Profits retained inside the small business C corporation will typically […]
by Dave KauppiThe purpose of this article is to demonstrate the importance of the tax impact in the sale of your business. As an M&A intermediary and member of the IBBA, International Business Brokers Association, we recognize our responsibility to recommend that you consult your attorneys and tax accountants for specific advice on your business […]
by Stephen NelsonGetting ready to incorporate in Nevada? Make your Nevada incorporation easier, safer and trouble-free by following seven simple tips.
Tip #1: Don’t choose Nevada unless you operate in Nevada
Let’s get this first tip out of the way right up front. Nevada incorporation makes sense for businesses and investments located in Nevada. Nevada incorporation does […]
by PeterSamThere are Short Term Disability Insurance and Long Term Disability Insurance coverage. The Short Term Disability Insurance, as the name indicates, provides substitute income for short durations. When you undergo a major surgery or prolonged medical treatment for any ailment, you suffer loss of earnings as you are unfit to work. By opting for […]
by Rich MuirAs part of having a business in most countries you have to keep them updated with all of your current information. If you are going to make any changes within your company from adding a new partner, director, secretary or share holder to your company, it is imperative to contact your regulatory body […]
by Fazila NuraniBefore an organization can truly dedicate itself to the principles of privacy protection, it needs to take stock of its personal information holdings and the procedures it currently has in place. And in order to move forward on this road to privacy compliance, an organization needs to ask three basic questions: What type […]
by Charlie Karlheinz LangBATNA stands for “Best Alternative to Negotiated Agreement”.
BATNA is not an acronym you see very often but it is probably the single most powerful method of successfully negotiating favourable terms and conditions relating to a sale or agreement.
The concept of BATNA was developed by negotiation researchers Roger Fisher and Bill Ury of […]
by Elizabeth A MorenoA complete breakdown of communication can happen in an instant and can be silent and deadly, misdiagnosed as it escalates into conflict. Real time conflict tears at the quality of the work environment. What can be done about this conflict? A realistic goal is having a quick, effective way to […]
by Connor MathewsThe time has come. You’ve decided to change your business structure. You’ve chosen that to shed the sole proprietorship phase of your endeavors and adopt the structure of the limited liability company. Smart move!
But, now you’re faced with some assets that you - as a sole proprietor - own that you’d like […]
by Vikram kuamrHiring someone is a critical task. You dont only get to evaluate the person you are hiring based on what he or she says about herself. It is also important to get data from other sources; and this could be a tedious thing to do. You need to contact the previous employer and […]
by Mike HarrisHistorically all UK limited companies have had at least two officers appointed. The minimum requirement was to have at least one company director and a company secretary. The company director is appointed to run the company on behalf of the shareholders. The secretary position was created to provide administrative support to the company. […]
by Rich MuirIf your company can no longer pay its bills it becomes clasified as insolvent. The Corporation Act states that a company mist be solvent in order to be trading so if your company is no longer in that position then you are not in compliance with this provision.
Violating the Corporation Act potentially means […]
by Stephen NelsonIf you operate your small business as a limited liability company, you may already know that setting up Microsoft’s Small Business Accounting software can be sort of confusing. Fortunately, you can use four easy tips to assure that your new accounting software works as it should.
Tip #1: Pretend the LLC Is Something Else […]
by Tom WheelwrightTravel expenses are a favorite deduction of many clients, because they love to travel and especially enjoy it when the IRS is subsidizing part of the expense. In order to deduct travel expenses, however, you must show that the expense has a business purpose and is ordinary and necessary to the business.
Travel […]
by rupali waghA sole tradership is easy to set up. It is not necessary to register the name of this type of business. However, you may need a license to conduct any of a wide variety of trades. You can find information on your particular type of business on the internet, including those licenses that […]