The holidays are almost over and you're looking forward to the new year.  You may have taken some time off in December to spend with family and friends and your business has taken a back seat.  In a day or two it's time to get back into the swing of things.  For the new year, what should you do with your business? Make sure you've attended to all your corporate formalities - holding an annual meeting and putting your minutes in yo...

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Um...with a pen? Seriously, though.  It sounds simple, but you should consider the implications of how you sign documents on behalf of your company.  As a business owner you have a split personality.  In any situation, you will be either Jane Doe The Individual or Jane Doe The Business Owner.  Before you sign something that involves your company, think about the role you're playing.  If you simply sign your name, the par...

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No, it doesn't involve a safety pin or have anything to do with a wedding.  This is one of those often-used yet rarely-explained phrases that every small business owner should understand.   If formed and managed properly, corporations and LLCs are treated as legal entities separate from their owners.  This is why we business lawyers are constantly nagging sole proprietors to form a legal entity.  Doing so allows the busi...

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I often speak with business owners who are ready to hire workers.  While this is a big step for a small business, many owners believe they can avoid paying employment taxes simply by calling these workers independent contractors.  I hate to be the bearer of bad news, but calling them independent contractors does not necessarily make them independent contractors.  This issue is particularly important now, because the IRS is cracking...

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Last week I was on the panel for a continuing legal education class at the UNLV Boyd School of Law called "How to Start a Law Practice."  The audience was comprised of law students, recent graduates, and licensed attorneys.  We had a good turnout either because of widespread layoffs in the legal profession or because all the lawyers had just received notice of a shortage in their CLE credits for the year.  I'm going to suspend...

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Last Christmas I asked for, and received, a bread machine. Like I did with my Barbie Dreamhouse at 5 years old, I tore into the packaging and briefly read the directions. I furiously unpacked the machine and set about measuring the ingredients before the wrapping paper hit the floor. I pushed a few buttons and stood back. It took a good eight hours for that first loaf to emerge, and another ten minutes for me to surgically remove the metal pa...

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What is it? "Owners' Agreement" is a general term that can refer to any document that addresses issues like owners' rights, compensation systems, succession planning, management roles, and shareholder disputes.  Owners' agreements include partnership agreements, shareholder agreements, buy-sell agreements, operating agreements, stock option agreements, or joint venture agreements.  They're usually written and adopted when a business is...

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Seems counterintuitive, doesn't it?  Shouldn't everyone looking to start a business already have an idea of what they want to do?  Not necessarily.   Head to your nearest bookstore, grab the October/November 2009 issue of Business Week's Small Biz, and read "Beyond Eureka" by Amy Barrett p40.  This is, by far, one of the most informative and inspirational articles I've read on entrepreneurship.  If you have an innate ent...

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