Can Your Small Business Write Off Bad Debts?
Tuesday, September 17
Despite your best efforts to work only with customers or clients you believe will pay for the goods or services your business provides and to diligently collect delinquent amounts owed, you will almost inevitably have to deal with bad debts on occasion. In some circumstances, the IRS allows you ...
Cybersecurity: Protecting Your Business
Friday, September 06
Cybersecurity is a growing concern for businesses, and small businesses are not immune from the threats posed by cybercriminals. Don’t be complacent because your business is small: Almost half of all cyberattacks in the U.S. are directed at small businesses. In recognition of this serious proble...
What Small Business Owners Should Know about Business Credit
Friday, August 30
For a small business to grow, it is often necessary to borrow money. In fact, the Small Business Administration reports that the inability to obtain funding is one of the main obstacles that prevent small businesses from expanding their operations. To increase your business’s chances of obtainin...
Record Keeping for Your Business: What's Required?
Friday, August 23
Whether you are just starting up a new company or have a business that has been in operation for a while, good record keeping is an essential part of running your business. You are responsible for establishing an effective system to store and maintain your business records whether your small bus...
Transferring LLC Membership Interests Part 1—An Overview
Monday, August 19
Say you are a member of an LLC. You own membership interests in the LLC. But what if you want to leave the LLC? What if you get a divorce? What if you have creditors seeking immediate repayment? What can you do with your membership interests? The answer depends on how transferable those membersh...
LLC Operating Agreement: Is a Non-Compete Clause Necessary?
Wednesday, August 14
You and several friends start a new business and decide to operate it as a limited liability company (LLC). Now that you’ve completed the first step—choosing a business entity—it is now important to prepare an operating agreement. The operating agreement is a contract which governs the operation...