The corporate conglomerate. This post discusses ways to organize a business structure when one business “owns” (informally speaking) several disparate businesses. I have a client that owns a transportation company, landscaping company, barricade rental, and some other seemingly unrelated companies. Each has their own insurable […]
Corporation or LLC: it’s a question I get all the time. The answer is not so simple as going down a checklist though. You need to consider many factors. Who will be making decisions. How profits will be split. What your personal tax situation is. […]
Money! Okay got your attention. The topic is how do you get money – profits – out of your business. It’s not as simple as sticking your hand in the register, or writing yourself a check, especially when there are multiple owners involved. There’s a […]
Does your business have a plan to continue operating if a key owner unexpectedly leaves? Don’t leave succession to chance. It’s not just for majority owners, but minority owners are served by having a plan in place.
Selling a business is a complicated business transaction, but depending on the nature of the business and the assets being transferred, there’s ways to make it go easier. It’s important that well before the actual sale date the business books and records are in order, […]
Your corporation is required by statute to have a board of directors. But why, and what do they do? Find out in this quick video.
Friends and family loans can be great resources to help your business start and grow. But there are the obvious pitfalls of dealing with family when it comes to money and your business. The main thing I advise my clients on when taking money for […]
LLC decision making: LLCs are unique in that “ownership” has two different meanings. First, it means the right to make decisions about how the business is operated. That’s called “Membership” and “Management”. Second is a right to receive profits from the LLC, that’s called an […]
“Nonprofit” and 501(c)(3) seem to go hand in hand. But something interesting popped up on my radar the other day, it turns out that not every “not for profit” needs to qualify for tax exempt status under the Internal Revenue Code section 501(c)(3) in order […]
Wage Regulations in North Carolina. North Carolina is a bit of a gem in its business regulations in that it leaves the pay relationship between the employer and employee for the most part. The NC Legislature has enacted some common sense regulations, however, to keep the employer […]