Business succession planning involves implementing strategies to determine who will take over and run a company after its current leadership is no longer in charge. Developing a business succession plan is a key step in protecting a company’s legacy and ensuring its future is in good hands. Every organization can benefit...
Category: Business Formation & Planning
Business Succession Plan Checklist
A business succession plan is like an estate plan for a business. These are especially useful for family-owned and closely-held companies which would otherwise have no procedure for replacing leaders who die, retire, or become incapacitated. With the right plan in place, your company can continue to operate smoothly with the...
Small Business Owners and the Annual Tax Crunch
Before you file away last year's paperwork, make sure you review everything and set aside any information that you need to file taxes. This can include employment records, donations and receipts for work expenses.
You can also collect the tax forms you will need to file and review them. Having these in advance can give...
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Starting a New Business? Meet Your Attorney Early In the Process
If you are starting a business, in addition to meeting with bankers, financiers and other business owners, you should find and begin a relationship with an attorney. During the start up process, you may have noticed that there are legal implications to virtually every decision you make.
Legal Forms For Starting a Business
What
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Small businesses must be aware of their requirements under the ACA
As a small business owner, you want to do everything in your power to ensure your continued success. While much of this success will depend on the decisions made during your formation and the business strategies adopted going forward, it will also depend on your ability to ensure compliance with all applicable regulations --...
What form will you choose for your business?
Starting a new business is a daunting prospect. There are a multitude of issues that all must be dealt with simultaneously. You have to have the idea and the concept for your new business. There are the mechanics of obtaining sufficient funding, whether through traditional banks, venture capital or new forms like crowdfunding with...
Does your Massachusetts LLC need an operating agreement?
While Massachusetts Limited Liability Company Act does not demand that your LLC have a formal operating agreement, it is generally a good idea to have one in place. The operating agreement serves many purposes and is flexible, so it can easily be tailored to meet your businesses specific needs.
As the name suggests, one of...
Hobby Lobby and the corporate veil
In corporate law, there are few more important concepts than that of the "Corporate Veil." This is the concept that protects shareholders from unlimited liability for the debts of the corporation.
The corporate veil is what protects a small business owner's home and personal assets where they are also the sole corporate owner when their...
Understanding when and how to restructure your business
Business owners are frequently faced with important decisions. From the very beginning, for example, owners will need to decide what type of business structure they will form under. This decision can have an impact on the day-to-day operations and growth of a young business.
Even though one particular business structure might prove to be effective...
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The Covidien – Medtronic deal and the issue of ‘tax inversion’
The threads we've developed in this blog include various issues involving corporate taxes.
For example, late last month we discussed tax aspects of the Affordable Care Act as they apply to businesses.
In this post, we will take note of a tax issue involving the recent acquisition of a Massachusetts medical-device company by another such company...