S-Corp or C-Corp? What's the Difference?

When you first form your corporation, it comes into existence as a C Corporation.  If you do nothing more, your corporation will remain a C Corporation.   A C Corporation becomes an S Corporation only when special tax treatment is sought by filing Form 2553 with the IRS. http://www.irs.gov/pub/irs-pdf/f2553.pdf Although a small business lawyer can… Read More »

Four Corners of a Contract, Demystified

What is the Four Corners Rule? The “Four Corners Rule” states that if the language is not found within the written words of the contract, then outside evidence will not be considered.  This includes any oral agreement you’ve made. How Does this Work? So, for example, you’ve agreed to buy widgets from a manufacturer.  Your… Read More »

Obama Calls Small Business The Little Engine that Could

President Obama gave a speech Thursday directed towards small business owners, calling them “the engine of job growth in America.”  In his continuing efforts to get the nation behind his health care initiative, Obama addressed not only small business owners and organizations from across the country but also members of the U.S. Chamber of Commerce… Read More »

Small Businesses and Federal Tax Help

I love recommending government resources.  Many of us wonder where our tax dollars go.  It helps a bit to realize that there are resources provided by the federal government specifically designed to help the small business owner. The Internal Revenue Service maintains a Small Business and Self-Employed Center section on its website dedicated to providing… Read More »