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Category: Business

tax reform will be a slow process (no surprise)

tax reform will be a slow process (no surprise)

Senator Ted Cruz has given fair warning that tax reform may not be coming quite as quickly President Trump wants, and some earlier reports indicated.  The word out of Washington today is that Cruz believes that new tax reform legislation will get done “late this year or early next year.”  We know that it’s not […]

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Toys “R” Us Bankruptcy—is this the end of Geoffrey the Giraffe?

Toys “R” Us Bankruptcy—is this the end of Geoffrey the Giraffe?

No. Chapter 11 bankruptcy is somewhat like going to the hospital for a major medical procedure.  But this does not equate to a trip to the mortician.  A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a “reorganization” bankruptcy. (see uscourts.gov website for more information).  The theory […]

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honesty in business (TED talk by Alexander Wager)

honesty in business (TED talk by Alexander Wager)

“I hope I shall possess firmness and virtue enough to maintain what I consider the most enviable of all titles, the character of an honest man.”      George Washington I enjoy TED talks.  Last evening, I watched a TED talk by Dr. Alexander Wagner titled “What really motivates people to be honest in business.” […]

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Is a single member LLC required to have operating agreement?

Is a single member LLC required to have operating agreement?

Afterall, why should a single member[1] need a rulebook for himself or herself? Fair point.  However, please remember that an LLC operating agreement is more than just a “rule book” for the LLC.  Also, keep in mind that what is today a single member (i.e., single owner) business entity will, hopefully, grow and expand over […]

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single member LLC tax stuff

single member LLC tax stuff

A single member LLC can be taxed as a disregarded entity or as an S Corporation. First and foremost, this is an area best discussed with your accountant, so please do not interpret this short post as me trying to take the place of your accountant–I am not.  Ok, with that necessary clarification, let’s proceed. […]

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Are Electronic Signatures Legal?

Are Electronic Signatures Legal?

Yes. Any other questions? Ok, if you are asking the first question, you likely want to know a little bit more on this subject, so let’s consider a few things related to electronic signatures. When President Clinton signed the ESIGN ACT (the long name of that law is the Electronic Signatures in Global and National […]

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Secrets of “THE LAW”

Secrets of “THE LAW”

If you meet an attorney claiming to know THE LAW, find a different attorney.   There are many misconceptions in the world of lawyers and law stuff.  A great many.  One of the most prominent is the mistaken belief that just because someone has a law degree and has passed a bar exam that person knows “THE […]

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Asset Protection for Business Owners: some basic ideas

Asset Protection for Business Owners: some basic ideas

The most frequent questions I receive from business owners relate to asset protection. Common sense and a little extra care can do wonders to provide significant protections for the business owner and the business. I was recently contacted by a business owner regarding these things–namely, asset protection for himself and his business. He wanted to […]

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Piercing the Corporate Veil is the exception to the rule

Piercing the Corporate Veil is the exception to the rule

Legal liability protection is one of the main reasons for corporate entities.  In most instances, these legal entities insulate owners from legal liability. While there are often tax, accounting and other important reasons for corporations and LLCs in a business or investment setting, at the very top of any list of reasons to establish and properly maintain […]

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McDonald’s and the emergency room–what they have in common; but also why you will never see drive-through brain surgery

McDonald’s and the emergency room–what they have in common; but also why you will never see drive-through brain surgery

What do the hospital emergency room McDonald’s have in common? Answer: on-demand access. In this era of on-demand services, along with all-access TV and movie resources and all the other things instantly accessible via the internet, we sometimes find that clients and customers have unrealistic ideas about similar on-demand access to professional services.  Some people […]

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