Does your Lawyer have a Blog?

Probably not.  Even though blogs, or blawgs (get it...?), seem to be more common nowadays, very few business lawyers have them.  In my area of practice I can only think of two other (small) business law blogs that really try to talk…

Do I need a Federal ID Number for My Sole Member LLC?

No, for federal income tax purposes a sole member LLC is normally considered a "disregarded entity."  Unless you hire employees, you can use your social security number for all purposes. However, for security reasons, you may…

How to save Taxes with an S Corporation

One of the main reasons for choosing an S corporation over a limited liability company is the possibility to save self-employment taxes.  Members of an LLC have to pay 15.3% self-employment tax on their share of the LLC's income (for the…

Think of your Agreements as Marketing – Six Things to Avoid

Have you ever thought that the contracts you hand out to your customers are another part of your marketing strategy?  If not, think again.  Everything you present to your potential customers (i.e. market) is marketing.  Here are…

LLCs and Derivative Actions – Tzolis v Wolff

What can a member of an LLC do if managers or members of the LLC engage in conduct that harms the LLC?  A New York Appellate Court has held (Tzolis v Wolff, 2007 NY Slip Opinion, Appellate Division, First Department) that a member of…

Preparing your Business for Sale/Starting your Internet Business LLC

I've pretty much had given up exercise for blogging.  But since I figured out a way to take blogging to the gym, I've been back.  I make it bearable by listening to podcasts, the audio version of blogs.  Today I listened to (and…

Tax Saving Tips for the Self-employed

June Walker, author, practicing accountant, workshop leader and seminar speaker in Santa Fe offers helpful tax and financial advice on her relatively new blog.  The post that caught my attention: Designers Dozen: Tax Saving Tips for the…

Learn about Your Small Business Tax Obligations From the Pros: the IRS

Since this is tax season, you might be interested in this resource I just found on the website of the Internal Revenue Service (aka the "Tax Man"): Welcome to the Small Business/Self-Employed Virtual Small Business Tax Workshop. …

Lawyers like to “should” on themselves and others

Part of being a lawyer in the business of keeping business people out of court is being a big time "party pooper."  Don't do this, don't do that, be careful or else.... This generally makes for unhappy people, because that mindset…

Do you have to have a Signature on your Contract? Is an E-Signature enough?

This comes as a surprise to some people: In New York, unless there is a special law that states otherwise, you can become bound by a contract, even though you have not actually signed it.  As long as you have somehow shown that you agree…