It is a long-held capitalist axiom that businesses exist solely to make a profit. Typical for-profit corporations are legally required to act in the best interests of their shareholders, which means maximizing profits—often at the expense of other considerations. In fact, failure to focus strictly on profits can expose corporate leadership to shareholder litigation. But […]
The topics of misinformation and disinformation frequently arise in conversations about news coverage. But the question of truth is not just relevant to the media we consume. It is also a significant issue to consider for a business’s advertisements. Truth in advertising is regulated by the Federal Trade Commission (FTC). Regardless of where an advertisement […]
Small business owners are accustomed to having grace under fire when it comes to running their business. But it is just as necessary that they demonstrate grace when firing an employee. Due to harsh economic conditions, some sectors of the American economy had to resort to layoffs in the first half of 2022, and there […]
Moving to a new country and starting a life there presents myriad challenges. Founding a business in the United States as a nonresident can be even more challenging. It requires navigating a convoluted immigration system, which specifically lacks a startup founders visa. That is on top of the extensive paperwork and filings required of all […]
Trusts and limited liability companies (LLCs) are both legal vehicles that can be used to manage and protect assets, minimize taxation, and avoid probate. Whether a trust or an LLC is a better choice may depend on the type of asset, but you do not necessarily have to choose between the two. In fact, an […]
As a small business owner who puts in long hours to build your enterprise, it can sometimes feel like there is no separation between your personal and professional lives. You are probably willing to make this sacrifice to build a company that reflects your values and vision. But without a comprehensive asset protection strategy, everything […]
You might think that a board of directors is something that only big companies have, but all S corporations and C corporations—even small businesses—are legally required to have boards of directors. Specific rules for the board of directors are established in the corporate bylaws and other corporate documents. Some requirements for boards of directors, including […]
One significant advantage of organizing your business as a limited liability company (LLC) is the flexibility it affords. The Internal Revenue Service (IRS) allows LLC owners to choose how their business will be taxed. As an LLC owner, you can be taxed as a sole proprietorship (if you are the LLC’s sole member), a partnership […]