The terms “sole proprietor” and “independent contractor” are both used to discuss small business owners. So, are they the same thing? What is the difference? Here is the simple answer: The terms “sole proprietor” and “independent contractor” are both generally used to describe single-person businesses, but they are used in different contexts. You can be…
A great small business always starts out as an idea, but you have to transform that idea into action. That is where many individuals can start to feel overwhelmed and why business incorporation may be a necessary next step. For instance, entrepreneurs often ask whether they should be incorporating in California or if they are…
If you have a business – you should consider setting it up within an LLC. It will provide you with similar legal protections to a corporation, but enable you to run your company as a small business. A brief definition: A Limited Liability Company (LLC) is a hybrid organization that has characteristics of both a…
Whether due to voluntary situations (owner retirement and/or exit strategy) or involuntary situations (financially distressed companies), liquidations is often an unpleasant and painful option for business owners. Regardless of the reasons, it is critical that the liquidating business understands how best to come to a net orderly liquidation value and, in the case of self-liquidation,…
Professional Corporations (PCs) allow certain kinds of professionals such as doctors, lawyers, accountants, or engineers to do business as a Professional Corporation. Single Profession Only Requirement PCs are different from other corporations because all shareholders must be members of the same profession and provide the same service. A professional service is one that requires a…
As the saying goes, by failing to prepare, you are preparing to fail; and, this is especially true when concerning a business launch. As a new business, you will be reliant on many external factors such as suppliers and stakeholders that you may not be able to control. However, the one element completely under your…
Being in a car accident can be scary and stressful. But it is important to plan ahead and be prepared. Below are ten steps that should be taken if you have been involved in an auto accident. 1) Stay at the scene and remain calm: If you leave, you may be charged with a “hit and…
Among the countless worries for entrepreneurs – starting or running a business – is whether they need a business attorney. A good business attorney will provide vital assistance in almost every aspect of your business. From basic zoning compliance, copyright and trademark advice to formal business incorporation, and lawsuits and liability. The perception is that…
