June 17, 2015
When you’re in business by yourself, the math is easy. But when you have multiple owners, how should you share the spoils? That’s the nature of this week’s basic training post. Q: How should I divide profits in an LLC? A: Especially in an LLC, you have many options for how to divide your profits. There’s no hard-and-fast rule. The formula you choose can depend on a number of factors, including: The number of people actively involved in the day-to-day operations of the business Whether there are any passive investors who have contributed capital The extent to which the active owners are actively involved (e.g., are some full-time with the company, whereas others are only part-time?) The non-cash contributions the owners have contributed to the company (e.g., inventions, client lists or other intellectual property) and the value placed on that contribution The time commitment each owner is prepared to make to the business (are some in it for the long haul, whereas others want a quick ROI and to move on?) It’s not something you want to take lightly,…
Continue ReadingAt some point in their business planning, most entrepreneurs wonder: “How can I protect myself if things go awry?” Even if they have few personal assets, they may want to avoid the possibility of seeing…
Read MoreMy client, Cate, runs a graphic and web design firm. On a recent consulting call she complained, I feel like an accordion. When clients pour in and I need to ramp up, I’m stretched. When…
Read MoreSt. Patrick’s Day is no stranger to legal controversy. Gay Irish groups in New York and Boston have had protracted (and unsuccessful) fights with city leaders over the right to march in the parades. And…
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