The Corporate Transparency Act: What Business Owners Need to Know There’s a new standard in place for virtually every company incorporated or registered to do business in the United States. Beginning on January 1, 2024, all legal entities and organizations are bound by the Corporate Transparency Act, which requires them to disclose information about their owners, officers, and controlling persons. Read …
5 Estate Planning Tools for Small Business Owners
If you’re a small business owner, estate planning might be the last thing on your mind. The day-to-day running of the company is likely filled with payroll concerns, marketing metrics, and attracting the right kind of talent to boost your growth. Unfortunately, many small business owners who put off estate planning don’t realize that they’re putting everything they’ve worked for …
5 Ways AI Tools Can Transform Your Startup or Small Business
Whether you welcome new technology, fear our new robot overlords, or don’t know what to think about AI integration, there’s no denying that 2023 is fast becoming the year of artificial intelligence. The rise of programs like Grammarly© and ChatGPT© using natural language processing to provide nearly-human responses is taking the world by storm. As a savvy entrepreneur, you’re probably asking, …
Entity Crisis: The Reason You Need to Separate Yourself from Your Business
Your business wouldn’t exist without you, but that doesn’t mean you and your business are one and the same. For you to maximize the benefits of owning your own company, it’s essential that you maintain two distinct entities: your business, and you as its employee. Thinking of your business in this way has many advantages. One, you have a better …
4 Ways to Protect Your Assets as a Business Owner
The reality of being a business owner is that you open yourself up to a number of unique risks that most people don’t have to worry about—and the more successful your business is, the more risks you face. These risks also don’t care what industry or market you’re in. Unfortunately, most business owners aren’t fully aware of all the potential risks …
Demystifying 4 Myths about Business Entities
“Just set up an LLC . . .” These are famous last words in the business world. Setting up a business entity structure might not be the most exciting aspect of starting your own business. However, as a new, or even an experienced, business owner, there can be unexpected surprises but protecting your business should not be one of them. …
4 Reasons to NOT Skimp on Legal Documents
I was the kid who wanted the crust off of a peanut butter and jelly sandwich because I didn’t think it was necessary. “That’s the best part” my mom would say to me as she took a bite! As an adult I understand what she meant, the proverbial crust is the best part sometimes. Similarly, cutting corners with your business …
6 Key Considerations for Passing Down a Family Business
As an entrepreneur, you have spent years putting in hard work, sweat, and tears to build your small business. You have thought of every meticulous detail in order for your business to run properly, but have you taken time to consider what will happen to it when you retire, become disabled, or pass away? Although it is often hard to …
How to Break Up with Your Business Partner Without Ruining Your Livelihood
Nobody likes to consider a breakup at the start of a new relationship. Like romantic relationships, business relationships can (and do) end—and failing to plan for the worst can lead to much more than a broken heart. A fallout with a business partner can mean the loss of all of your clients, your staff, or your future profits—especially if you don’t …
6 Key Considerations for Passing Down a Family Business
As an entrepreneur, you have spent years putting in hard work, sweat, and tears to build your small business. You have thought of every meticulous detail in order for your business to run properly, but have you taken time to consider what will happen to it when you retire, become disabled, or pass away? Although it is often hard to …