Starting a business requires a great deal of planning and execution. Exiting from your small business should entail a similar level of forethought and preparation. Nevertheless, some surveys indicate that nearly half of all business owners have no exit strategy.[1]...
Business Law
CTA Imposes New Small Business Reporting Requirements for 2024
Small business owners will have one more item on their compliance to-do list when the Corporate Transparency Act (CTA) takes effect next year. The CTA,[1] enacted as part of the Anti-Money Laundering Act of 2020 (AMLA), places new reporting requirements on many...
When an LLC Is Not the Best Fit
Business owners who are interested in forming a new limited liability company (LLC) or converting their existing business to an LLC are probably familiar with the benefits of this entity type. While the LLC is a great fit for many companies, there are situations in...
Nepotism and Business Ethics: What You Need to Know
With a family business, the owners are often a married couple who anticipate passing the business on to their children. But there can be a fine line between grooming your children to take over the job and participating in nepotism, the practice of hiring or promoting...
Business Owners: Consider Alternatives to Noncompetes
Noncompete agreements have gained a lot of interest among employers looking to secure their business in the market. However, for reasons we will discuss below, it may be wise to consider using alternative means of protecting your company if you are a business owner....