June 3, 2015
When leaving a business partnership, entrepreneurs often overlook the fact that untangling the details of the business can go on for months after the date of departure. Here’s one of the problems that can arise if you haven’t worked the appropriate safeguards into the exiting process: Q: We separated from our former business partner in the 3rd quarter 2008, at which time he took over the entire company. Earlier this year he told us he would need to file an ’08 tax extension for the company because he wasn’t able to pay any amount owed at filing time AND he still owed the CPA from the last year’s services. We also found out that he has not provided the CPA with any of the company’s tax documents from ’08 and has missed the corporate extension deadlines. Even though we filed for an extension, paid an estimated amount and have submitted all our personal tax documents to the CPA (we all use the same guy), our personal tax filing is in limbo pending information from the company’s filings. How…
Continue ReadingEntrepreneurs often ask me to create the “perfect one-page agreement.” Maybe they expect partnership agreements to be 3 pages . . . maybe 5 . . . but the expectation is that shorter is better.…
Read MoreNow I’m not going to summarize the whole of Christopher Mercer’s book on Buy/Sell Agreements for you, but he raises a lot of valuable points that bear repeating (and sharing). First is an answer to…
Read MoreListen to the Episode Below: You probably keep hearing about the benefits of social media promotion for your business … but frankly it often feels like a real time suck, doesn’t it?—it takes too much…
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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.
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