The success of a business depends on factors beyond making a good product or delivering a reliable service. It also relies on the decisions a business owner makes when securing valuable, proprietary information and keeping it from competitors. One tool that many...
Business Law
Tips for Conducting an Exit Interview with Departing Employees
If you own a small business, the chances are good that you fill multiple roles yourself. For instance, you could be a one-person Human Resources department. In this capacity, you may need to take on responsibilities like conducting an exit interview with an employee....
Hobby or Business: What Factors Does the IRS Consider?
There are some activities we engage in outside of work strictly for personal reasons, with no thought of ever profiting from them. You might, for example, enjoy photography, hiking on the weekends, or collecting classic records. There is no monetary gain—and no...
How to Pay Yourself When You Own an LLC
One significant advantage of organizing your business as a limited liability company (LLC) is the flexibility it affords. The Internal Revenue Service (IRS) allows LLC owners to choose how their business will be taxed. As an LLC owner, you can be taxed as a sole...
Using a Deferred Compensation Agreement in Your Business
The war for talent is heating up. A record number of workers have quit their jobs this year, creating a massive problem for employers. While higher pay can help get new workers in the door of your business, wages alone may not be enough to keep them there. Employers...