Why Does a Small Corporation Need to Keep Minutes?
Corporate minutes are a reflection of the decisions of the Board of Directors. Even more importantly, corporate minutes are an indication that formalities of the corporation are being kept. If involved in a lawsuit, one way an attorney will attempt to reach personal assets of the officers [...]
When your business succession planning involves family, a whole new set of variables need to be thought about.
In some ways, it is easier when you have family to leave your business to, in other ways it can be way more difficult as you add family dynamics to the mix
First of all, some statistics: according to [...]
This past month, I have had numerous Long Island clients calling me and asking me to fix their corporations and LLC’s that they ordered and paid for online. It seems that these online documents come complete with any number of their forms left blank. I have seen two this week where the first page of [...]
In its continuing efforts to help small businesses and the self-employed, the Internal Revenue Service (IRS) has designed a tax calendar filled with useful nuggets of advice and tips for the small business owner. Not only is the calendar useful, it is even cute, featuring a gardening theme. to help small businesses “cultivate sound business [...]
President Obama gave a speech Thursday directed towards small business owners, calling them “the engine of job growth in America.” In his continuing efforts to get the nation behind his health care initiative, Obama addressed not only small business owners and organizations from across the country but also members of the U.S. Chamber of Commerce [...]
If you are just starting a small business or have a sole proprietorship, you have probably thought about and received advice about either incorporating or forming a limited liability company (LLC).
What protections do these business entities actually offer to the small business owner?
The Promise
You have probably heard that by incorporating or forming an LLC, you, [...]
I love recommending government resources. Many of us wonder where our tax dollars go. It helps a bit to realize that there are resources provided by the federal government specifically designed to help the small business owner.
The Internal Revenue Service maintains a Small Business and Self-Employed Center section on its website dedicated to providing tax [...]
If you are starting a small business or in need of help to make an existing business grow, you should contact your local Small Business Development Center (SBDC). Locally on Long Island, there is an SBDC in Farmingdale with outreach locations in Brookville and Hempstead. There is also a center in StonyBrook with satellite offices [...]
One major concern for many small businesses and sole proprietors is what type of insurance is required in New York. Below is a brief description of the most important types of policies you should consider:
Health Insurance
While a number of private insurance companies offer health insurance for sole proprietors, New York has a special program, Healthy [...]
Contracts are a fact of life for a small business owner. Employment agreements, vendor contracts and even the lease for your storefront or office are all contracts. It is vitally important to understand all the different provisions found in these agreements, but I frequently hear clients state that they sign contracts without understanding or even [...]
