All posts by Deemer Law Group, PLLC

What do I need to know to start a business? (Part 4)

In Part 1, we explored Sole Proprietorship and Partnership ownership interests.  In Part 2, we explored Limited Liability Partnerships, Limited Partnerships, Limited Liability Companies.  In Part 3, we explored Corporations, where to incorporate, and started discussing some basic tax considerations.

Now we will explore the taxes in a little more detail and what tends to be the cheapest to start.   Continue reading What do I need to know to start a business? (Part 4)

Business Services to stay out of trouble

When you open a business, sometimes it feels like there are always people trying to get more money out of you.  They often talk about how they will drive more business to you and help you find clients.  While getting more [good] clients is important, one thing often overlooked is the need to protect your business and often times, there are additional expenses that you should really consider that can really help keep you out of trouble.

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Preparing for the First Meeting with your Probate Attorney

The untimely passing of a loved one is difficult enough, let alone getting through the legal nightmare that is probate.   First, the main functions of probate are to collect and manage all the assets subject to probate and to pay off any debts or taxes owed against the estate.    To prepare for this administration of the estate in court you most likely will need an attorney.    However, once you found that attorney, how do you prepare for that first meeting?

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Partnerships

Choosing what type of entity your business will be is an essential part of business planning.  A partnership is two or more people working together for a profit.  There are two basic types of partnerships, general partnerships and limited partnerships.

There is no requirement to create a partnership agreement, however it is smart to do so.  A Written partnership agreement helps to avoid misunderstandings between partners and a failure to have a written agreement will result in default rules based on the states statute.  A written agreement also permits the partners to discuss various aspects of the business and expectations of the partners.

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Where should I incorporate? (Part 2)

In Part 1, we discussed the non-legal issues that can influence where to incorporate, such as financial, convenience of where they are doing business, and continuing operations.  Now we will discuss some of the legal considerations for where to incorporate.  As we mentioned in Part 1, Delaware, Nevada, and Wyoming are three states considered corporate havens, so we will discuss some basic information about these three states.

Continue reading Where should I incorporate? (Part 2)