Post image for Turning Over Your Business to Blood (Relations, That Is)

Transitioning a business is never easy under the best of circumstances; having a family succession plan is even thornier.After all, you are entrusting your life’s work to people who, years ago, may have (1) stolen your boyfriend (or favorite party dress or Johnny Mathis album), (2) crashed the station wagon while carousing after a high […]

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Post image for Protecting an Idea . . . Like Grasping Smoke?

I received an e-mail out of the blue recently about how to protect an idea. Not a plan, not a project, not something tangible . . . but a thought about a new approach to pet care. That’s about as much information as I have. Understandably, the entrepreneur was reluctant to disclose the idea because […]

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by on June 11, 2021

Computer Security Legislation

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In a rare moment of bipartisan and bicameral cooperation, both the U.S. House of Representatives and the U.S. Senate introduced legislation geared to help protect the nation’s 27 million small businesses from computer hackers and information security breaches. Entitled the “Small Business Information Security Act of 2008,” the bills (H.R. 6206 and S. 3102, respectively) […]

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As you probably know, one of the great advantages for businesses in outsourcing to independent contractors is that they don’t have to pay the whole array of taxes that they do for employees. The IRS has stated . . . Companies must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment […]

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by on June 5, 2021

Top 5 Tips to Reduce Your Rent

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Arm yourself with the facts, and get those fixed costs under control. For many small businesses, rent is the single largest expense (outside of payroll) they face on a regular basis. So, when times are tight, it’s no surprise that business owners consider rent reduction as a way to reduce their operating costs. Like other […]

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From the Department of Business Partnership Nightmares comes this plea for help from LordMJ: Here’s the skinny: Partner 1 and Partner 2 met in corporate America and started a venture together when both had full-time jobs Partner 1 left the corporate job and entered grad school, ostensibly to help the business (and supposedly by mutual […]

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by Nina L. Kaufman, Esq. on May 27, 2021

Is business licensing needed for a vegetable stand?

Q.:  Do I need business licensing to start a roadside vegetable stand, selling items from my garden?   A.:  A number of states prohibit the sale of any agricultural products without the proper business licensing.  Because business licensing varies for place to place, contact your local government to see if it has those restrictions and […]

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by Nina L. Kaufman, Esq. on May 24, 2021

New changes to New York employee laws

As if there aren’t enough HR laws on the books for small businesses to keep up with, New York State, in its infinite wisdom, decided to add one more: the NY Wage Theft Prevention Act.  Effective April 9, 2011, the New York Labor Law tries to further bolster employment rights by requiring all employers to […]

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Many people have started a business partnership (or limited liability company) with at least one other person. According to the IRS, that’s at least 14 million people. And that doesn’t include those who have started small corporations with other owners – which could easily double that figure. But according to AssociatedContent.com, up to 70% of […]

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by Nina L. Kaufman, Esq. on May 15, 2021

What can you learn from Bill the Bull?

Bill the Bull stares at me with brown glassy eyes. He sits forlornly in the middle of a large, padded basement pen in a dark midtown NYC restaurant. The damp hint of stale beer gently lingers in the air. His sad face beckons “Play with me! Play with me!” The nearly-empty room ignores him. (It […]

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Nina in the Media