Tax Implications When Leaving a Partnership When a partner leaves a business, the resulting transaction can take the form of a payment to the retiring partner to redeem his or her share of the business, or a sale of that share of the business to the remaining partners. Either way,…
You Can, But Should You? To begin with, employers thinking about using AI such as ChatGPT during hiring and selection need to familiarize themselves with the technology at a conceptual level, and then look closely at—and understand well enough so they can explain to others—how AI integrates with their recruiting…
How Do Family Businesses Survive Transition? The Cornell University Smith Family Business Initiative says that more than three-quarters (77%) of small businesses rest on significant family involvement. Family Enterprise USA has counted 5.5 million family businesses in the U.S., finding that they contribute 57% of the U.S. GDP, employ 63%…
Subchapter V for Small Business Owners For the past two years, small businesses whose bottom lines were impacted by the onset of COVID-19 enjoyed greater protections while going through Chapter 11 bankruptcy reorganizations in the form of higher debt limits under the Small Business Reorganization Act. That act, passed in…
New Laws for Small Businesses in 2022 From salary and benefits, to the hiring process, to non-compete agreements, an array of new state legislation that affects small businesses in one way or another has taken effect as of the first of the new year, 2022. The legislation focused non-compete agreements…
When is the Best Time to Start a Business? During the pandemic there were over 400,000 new businesses formed, the most since 2007. This outpaced the number of businesses which closed during the pandemic. We have seen a number of businesses which were formed over the past year by…
Attorneys Misty Cygan and Geo Bellas can help your get business off to a good start. We’ve run a series of posts recently about the steps involved in launching a business. These have covered issues like deciding what type of business you want to start and what your business model…
Considerations for Starting a Small Business Recently, we ran a post What to consider when Starting a Small Business, Part One about some of the early steps in starting a small business—deciding you’re ready, figuring out what type of business you want to start, surveying your competitors, and figuring out the…
Are you thinking about starting a small business? It can be an exciting and challenging endeavor, although it’s more likely to succeed if you plan ahead, take it step by step, and surround yourself with trusted, experienced advisers. Of course, such an important endeavor – not to mention a life…
Entrepreneurial Business Concepts Companies like GE, Disney and HP got their start during the Great Depression, while Airbnb, Uber, Slack and Venmo launched in cyberspace during the Great Recession. Taboola’s analysis of more than 8 billion page views, along with data from the aggregated readership among 1,000 of its publisher…