If you’re a small business owner, there are a few things you should add to your checklist before the year is over: Ask your accountant what needs to be done for tax purposes, review your insurance policy for the coming year and make sure it’s still appropriate, and make sure your employees are taken care of during the holiday season.
Category Archives: Small Business
Legal-Ease: ‘Unjust enrichment’ recovers benefits provided to others
Unjust enrichment is a legal method that may be used to force someone to pay for a benefit they have received from another person or business. Three things must be present for unjust enrichment to occur: the person must have actually benefitted from the goods, the person must know they have benefitted and the item they’ve received must be something that is unfair for them to keep.
Legal-Ease: Steps to starting a new business
When starting a new business, many people want to jump into the marketing phase and get the word out before their business is actually ready for that. Ensuring that your insurance, accounting, banking and legal set-up is in order is important before spreading the word, in case your business doesn’t progress as intended.
Legal-Ease: Structuring a small-business purchase
Typically, there are two ways small businesses are bought and sold. A “sale of entity” is when the whole business is sold together, while a “sale of the assets” is when the owner sells all the components of the business without including the overall entity or its liabilities.
Legal-Ease: Components of a successful business succession plan
Transitioning ownership in a business is never easy, but small businesses face more difficulties than others. Farmers especially can face problems when passing along their farms and equipment. A few steps can be taken to streamline the process and make it as painless as possible.
Legal-Ease: Small business needs team of advisers
Every entrepreneur should consider working with five crucial partners: an attorney, an accountant, an insurance agent, a lender and a financial adviser. Good attorneys will work with small business owners to help them minimize liability, and some attorneys limit their practices to this area of the law. Entrepreneurs should find members of their advisory team that are smart, passionate, focused, willing and qualified to serve their respective roles.