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As an entrepreneur, one of the most important decisions you’ll make when starting a business is how to structure it. While several options are available, such as sole proprietorship, partnership, and LLC, many entrepreneurs ultimately choose to structure their business as a corporation. Corporations offer a variety of benefits, including limited liability protection, potential tax...

A Keogh Plan, or HR-10 Plan, is a type of retirement plan specifically designed for self-employed individuals, sole proprietors, and unincorporated businesses. It was named after its creator, Eugene Keogh, a U.S. representative from New York. The Keogh Plan was introduced in 1962 to provide a tax-advantaged retirement plan for self-employed individuals, similar to the...

A business’ name is one of the easiest ways to develop brand recognition. With such an important step in the business plan process, how can you be sure your business name is not infringing on an existing trademark?  What is a trademark? “Intellectual Property” (“IP”) is an amorphous area of the law built to protect...

As a business owner, paying yourself is an essential part of managing your finances. It can be a bit confusing at first, especially if you’re new to entrepreneurship, but once you understand the basics, it’s a straightforward process. In this blog post, we’ll cover some of the key factors you need to consider when paying...

If you are starting a new business or managing an existing one, you may have heard of an Employer Identification Number (EIN). An EIN is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to identify a business entity for tax purposes. While it may seem like an optional requirement, obtaining an EIN...

A Simple Agreement for Future Equity (SAFE) is a legal agreement that allows early-stage companies to raise capital from investors without giving up equity right away. Instead, the investor receives the right to a future equity stake in the company, typically triggered by a specific event such as a future financing round or an acquisition....

Starting a business is an exciting and often overwhelming process. One of the most important factors to consider before diving in is the cost of starting a business. While the cost of starting a business can vary depending on the industry, location, and business model, there are a few key cost considerations that apply to...

As an individual who runs a company or is part of its management, you may be wondering whether you are personally liable for the company’s debts. This is an important question to ask, as being held personally responsible for company debts could have serious financial implications for you. In this blog post, we’ll take a...

As a business owner, one of your biggest responsibilities is to make sure that you pay the right amount of taxes to the government. However, with so many different types of taxes and tax elections available, it can be difficult to know which ones are right for your business. In this blog post, we’ll go...

Have you ever wondered what would happen if someone from another state harmed you or your business while you were in Florida? How can you sue them and get justice? Well, Florida law has a concept called specific personal jurisdiction that can help you get your day in court. What is specific personal jurisdiction? Specific...

Buy-sell provisions are contractual agreements between co-owners of a business that govern the sale of ownership interests in the business. These provisions are designed to protect the interests of all parties involved and can help to ensure a smooth transition in the event that one owner wishes to leave the business or sell their stake. ...

As a business owner or leader, you may consider forming an advisory board to help guide your company’s strategic direction and provide valuable insights and advice. However, you may be unsure what to pay your advisory board members or whether you should pay them at all. In this blog post, we will explore the factors...