I guess it isn’t illegal, unless you think doing something stupid should be illegal. But I can see how this can happen. You are presented with the perfect business opportunity and are pressured to enter into a contract. You know that you should probably wait until your LLC has been formed, but you cannot wait […]
Don’t go to the emergency room yet. Your awareness of something going awry in your corporation maybe the first step to recovery. First off, you can’t really "pierce" your own corporate veil. "Piercing the corporate veil" is lawyer talk for somebody else trying to make you personally liable for your corporation’s debt. Usually a corporation […]
A reader of my blog had the following questions which I am happy to address in a legal information kind of way. (Disclaimer: This is not legal advice, nor is there an attorney-client relationship between me and the reader or anybody else reading this.) “I have a degree in art. I am unable to find […]
There is a new business law blog in New York, "Business Partnership Central" by Paltrowitz and Kaufman LLP officially launched on February 28. Welcome to the New York blogging neighborhood.
There are times in the life of a business when one business form has to be converted into another. For example, a startup may have initially decided to form an LLC in order to pass through the LLC’s losses to the owners’ tax returns, thereby allowing them to deduct such losses from their other non […]
I’m back from a mini blogging break having to do with a lot of work, taxes and other miserable paperwork that needed to get done. One thing I learned is that you can file your W-2s and wage reports for your employees with the Social Security Administration conveniently online. It is free and as an […]
A reader asked this question in response to my post: Taking Care of the LLC Publication Requirement: “I was hoping you could illuminate something for your readers. If a business were to file a pub requirement under one name (i.e. Acme, LLC.) but then decided that they wanted a different name and started a DBA […]
If you have ever started a business, you know what it is like to wake up in the middle of the night and be worried sick. Being in business exposes you to a lot of risk. The key is to plan for risk and minimize it where possible, so that you can find the sleep […]
Find the answer in this recent article in the New York Enterprise Report: "It’s not Personal, it’s Business." The article also describes the differences between your personal credit and your business credit and why maintaining both in good standing is crucial. **This post is for informational purposes only and does not constitute legal advice**
CCH has a good overview over the business entities available to the business owner. Be mindful, though, that choice of entity is influenced by your state laws. For example, the overview states that corporations are usually cheaper to form than LLCs. This is not true in New York. Usual price tag for forming a limited […]