Linda has just formed an LLC. She has a great new idea for a business. She has no money as she has no clients yet, but her friends love her and want to volunteer their services. She has vaguely promised them some sort of eventual profit or ownership percentage when the company becomes more successful…. Read More »
Monthly Archives: May 2014
Employee or Independent Contractor? You Don't Get to Choose.
My client, Marylou, has just started a small business. In this case, we formed a corporation for her dry cleaning business. Marylou is the new president of ABC Startup Dry Cleaning, Inc. She barely has enough money to pay rent and buy equipment, but she can’t run a dry cleaning business by herself. Marylou needs… Read More »
The Best Way to Buy a Small Business
Bob, one of my business clients, wants to own a coffee shop. He calls me and tells me he has found one for sale—and in the perfect location. That coffee shop is owned by a corporation. The corporation is really just the owner and his wife, but the corporation is the legal owner of the… Read More »
Would You Like to be Partners with your Partner's Spouse?
I have a business acquaintance named Fred, and Fred has a partner named Janet. They make a great team. Fred is a classic entrepreneur type, ready to go off in six directions at once as soon as an idea hits him. Janet keeps his feet on the ground. She’s great at systems, finances, and Fred… Read More »