by on September 4, 2018

How to Create a Mastermind Group

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Mastermind group dynamics are like baking bread: while the process may be straightforward, it takes a delicate touch to make sure that all of the ingredients are in the right proportion and that the dough is kneaded properly. What’s needed to get started?  A group of people who are willing to make a regular commitment […]

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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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by on August 29, 2018

Tax Concerns When Selling A Business

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Ah, wouldn’t it be nice . . . to cash out of your business and have the time, freedom and buckaroos to lounge in Tahiti, build that extra extension on the house or give to the charity of your choice. But there’s more that has to go on behind the scenes–before you get to that […]

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Post image for Basic Training: Does Divorce Litigation Affect a Business Partnership?

It’s said that more than 40 percent of all marriages in this country end in divorce.  So there’s a not-insubstantial likelihood that your business could be affected by divorce . . . even if you’re not the one divorcing.  Here’s today’s query: Q:  My partner’s ex-wife is suing him for a large amount. Can it […]

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by on August 23, 2018

Annual Corporate Housekeeping

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Happy New Year. With the new year comes the sweeping out of the old, which is where your corporate housekeeping comes into play. Many entrepreneurs think their legal work is done once they’ve incorporated or formed a limited liability company. Not so. Most states’ statutes require you to compile a written record of your major […]

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Continental Airlines (NYSE: CAL) and Kingfisher Airlines, one of the fastest growing airlines in India, announced last week that they entered into a comprehensive partnership for frequent flyer and airport lounge access reciprocity. In the effort to provide better service to customers who travel between India and the U.S., the airlines are also offering future […]

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by on August 17, 2018

Partners Across the Pond

Partnerships can be tough under the best of circumstances.  Communication gets garbled even when you’re sitting right next to your business partner.  But can you imagine the challenges in having a business partner in another city, state, or country?  I cam across a post that inspired me to think about it:  one business owner is […]

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by on August 14, 2018

Writing Off Business Bad Debt

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It’s been said that “every silver lining has a cloud,” and that certainly applies to having business bad debt. In a number of cases, you can get a tax deduction and write off the bad debt against income. But the fact remains that, to get the write-off, the debt has to be uncollectible. Which means […]

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“Life is trouble; only death is not,” comments Zorba the Greek in the novel by Nikos Katzanzakis. I’ve heard many a business owner brag about the lack of complication that their sole proprietor status affords them. No messy ownership agreements, no separate filings or taxes, complete freedom and flexibility to do what you want when […]

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Post image for Raising Capital from Friends and Family

As access to credit gets tighter in the “new economy,” many business owners may look to friends and family to help them get through the lean times. Friends and family are a tried-and-true source of funds. That said, business deals with friends and family can be enormously counterintuitive. Because you’re dealing with your college roommate […]

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Nina in the Media