Startup Lawyer - Palermo Business Law Firm

Corporation or LLC: Which Form is Best?

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 who will be making decisions, how profits will be split, what your personal tax situation is, and asset […]

November 19, 2018November 21, 2022

How to get profits out of your business

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 […]

November 7, 2018November 14, 2022

Business Succession Planning: Why?

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.

October 16, 2018November 22, 2022

Selling A Business Part 1: Selling Shares

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, […]

October 1, 2018November 21, 2022

Board of Directors for Your Corporation: Statutory Authority

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.

July 6, 2018November 21, 2022

Friends and Family Loans Or Business Partners: Get It In Writing

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 […]

June 28, 2018November 22, 2022

LLC Decision Making: Splitting Decision Making from Sharing in Profits

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 […]

February 9, 2018November 21, 2022

LLC Operating Agreements: What Critical Elements Should Be In Them?

LLC Operating Agreements: What Critical Elements Should Be In Them? This video discusses how Operating Agreements are structured and what elements at a minimum should be in them. For this and all your businesses legal needs, call me in Asheville, Hendersonville, Fletcher, Waynesville, and all […]

December 5, 2017November 14, 2022

Legal Insights: Does your 501(c)(3) Not For Profit Have to be a 501(c)(3)?

“Not for profit” 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) […]

November 28, 2016November 14, 2022

North Carolina Wage, Vacation and Sick Time Pay Regulations

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 / employee relationship honest and […]

November 17, 2016November 14, 2022