“q & a”

Post image for Basic Training: I is for I Gotta Get Outta This Lease

This week’s basic training deals with a situation becoming all too common these days: Business stinks, and you just want out. To close the door, turn the keys over to the landlord and just walk away. Q.: How can I give keys back to landlord, and for them not to sue me? Small shop in […]

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Q.:  Can a business partner be charged with embezzlement? My husband owns a business along with a partner whom he went to school with. The are equal partners. We have discovered this year he had a $10,000 cashiers check issued to himself from a business loan that acts as a checkings plus account. He also […]

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Post image for Basic Training: E is for Exposure

Remember the days when real estate seemed invincible, defying the laws of gravity? Well, the joke’s on us, and now many real estate investors are scrambling to dump their properties so that they don’t go down the valuation toilet with them. Q: I bought some property and put 25 percent down; the owner financed the […]

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Q.:  What is sweat equity and how does it work? My husband has recently started a new job where the salary is $50,000; however, he only takes home $25,000. The other half is going into sweat equity. Is this a normal practice and how might my husband benefit from this?   Read on to find […]

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Q.:  I’ve invested money into our business and I feel like my partner is trying to cheat me out of my money. I have not said anything because I do not have proof. So I need help to figure out what I can do to guard my back. Our paper work is on the way, […]

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Post image for Basic Training: About Presidents

In light of this week’s national “activities,” here’s a question about presidents–of corporations, that is. Q.: Can you change the president of a corporation? And if the president dies, who takes over? A.: Sure you can change the president of a corporation. But, like our national government, you have to have an election. And if […]

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Post image for Welcome to ‘Basic Training’

Atten-SHUN! Welcome to “Basic Training,” a new spin on legal issues that I’m introducing. We all know that entrepreneurship is not a smooth ride. There’s no magic bullet, no “instant formula” to which you can just add water and–POOF!–find you have a fully grown and functioning company. Entrepreneurs ask me legal (and quite a few […]

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Post image for Moonlighting: Legal for Business Owners?

Q: If a person is a 50 percent owner in an LLC corporation, is it illegal for that person who owns another company that does the same type of work to go and do work or operate under that business?  Someone mentioned to me that it is a conflict under a law regarding corporate obligation. […]

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Q.: What do you get when a U.S. consumer products and marketing powerhouse meets a Korean pharmaceutical company? A.:  A strategic alliance that uses a new model to improve health care. As reported in CNN Online, Proctor & Gamble is known more for its consumer items than for its pharmaceutical division (yes, they have one!).  […]

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Post image for Basic Training: ‘Finagling’ Overtime . . . and Why That’s an FLSA Red Flag

Like cheating on taxes, playing fast and loose with Fair Labor Standards Act employee classifications can land you in a world of hot water. Do you know the distinction/difference between “exempt” and “non-exempt” employees as it relates to their duties and the paying of overtime? Q: I want to lessen my payroll by finding ways to lower […]

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