August 6, 2016
Q.: I have always been advised, by CPAs, that until a small company has a specific NET income of approximately $100,000, incorporating is out of the question. The fees associated with Inc. may not be worth the trouble of incorporating. Wrong? If wrong, why? Thank you. A.: A $100,000 threshold? Hmmm. Plenty of companies are incorporated every day for businesses that are just starting and have no income whatsoever. Depending on your state, incorporation costs only about $300 to $800–and is a one-time expense–so I don’t see why a business earning a net income of, say, $50,000 wouldn’t be able to absorb that. In fact, the owners of small business corporations have been known to put a lot of expenses through the company, precisely so that they don’t show a lot of net income for taxation purposes. The corporation could have a gross income of $250,000, but with salaries, rent, expenses, taxes, etc., it only shows a net income of (for example) $80,000 for income tax purposes. Is that company too small to incorporate? I…
Continue ReadingFor most solo and smallfirm owners earning under $1M, CASH IS KEY. How can you make sure it gets into YOUR bank account as soon as possible? This comes up a lot with my coaching…
Read MoreEver run around like a crazy person, only to finally have 5 minutes of down time? That’s me right now. I’m off on vacation at the crack of dawn on Friday—tomorrow will be a Thanksgiving…
Read MoreIf you’ve been in business for any length of time, you know that angry clients are a huge headache. Not just disappointed – but ANGRY – and having no qualms about unleashing the full force…
Read More
I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.
With wide-ranging experience as a business attorney, strategist, and media authority, I bring the added power of a business lens to the legal issues my clients are facing.
And because I’ve been a business owner myself, I’ve lived through the soaring highs and devastating lows – like when my first law firm failed. So I understand what’s involved to serve great clients, detect business risks early and build a true legacy.
I can’t get those 12 years back. That’s why I have made it my mission to ensure that business professionals like you can become wise and discerning leaders, build a solid business, and live your best life.
