LLC v. Scorp – Show me the Money

LLC v. Scorp – Show me the Money

The first question for every small business owner who decided to form an entity?  LLC or S corp?  Which one is better for me? Let’s face it, most people would chose the entity that leaves more money in their pocket.  So let’s compare the tax costs and startup costs of these two entities.  This assumes that the business owner is the sole owner of the business. As a brief recap,...

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Dumb Legal Mistakes to Avoid: Business Agreements

I’ve seen my share of dumb legal mistakes made by any type of business owner.  New and experienced business owners alike, remind yourself every once in a while of these common dumb legal mistakes when dealing with business agreements. Not Getting It in Writing Get it in writing. No exceptions. All terms should be expressly stated in the agreement, in detail. Insist on simple, easy to...

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Let us do your New York LLC Formation!

Let us help you with  your New York LLC Formation!  Call us to discuss your startup business and any other questions you may have about the process of forming a New York Limited Liability Company.  We are not a paralegal or other document filing service (like legalzoom) where you don’t get to speak to a real New York attorney.  We are a small business law firm where every client counts....

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What Rules apply to an LLC without an Operating Agreement?

What Rules apply to an LLC without an Operating Agreement?

Many if not most small business limited liability companies with two or more members do not have an operating agreement.  An operating agreement is the document for an LLC that provides for rules and provisions regarding the management of the LLC and the members’ rights vis a vis the other members and the LLC.   It is highly advisable to have an operating agreement, especially if you are a...

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Show me the Money – Access to LLC Books, Records and Accounting

Show me the Money – Access to LLC Books, Records and Accounting

Picture this: You’ve been happily doing business with your fellow LLC members for some time now.  But now trouble is brewing on the horizon.  The other two members are ganging up on you and exclude you from any further business dealings.  When you ask to see the LLC’s bank accounts, tax returns or other financial records, they tell you that you don’t have any right to see...

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Selling a Business – Getting your Business ready for Sale

You’ve got homework to do before you can successfully sell your small business.  Even if you already have an interested buyer, attention to the details at this stage of the game will help you in the long run and protect you from unexpected snafus.  Your small business lawyer should be able to help you with these steps. 1.   If you’re leasing space for your business, find out from...

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