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Basic Training: Z is for Zapping Yourself by Walking Away

Basic Training: Z is for Zapping Yourself by Walking Away

By Nina Kaufman, Esq.

OK, so there aren’t many usable “Z” words in this context.  🙂  Today’s Basic Training post revisits that old, old lesson that you can’t just escape or quit your business by walking away. Q.:   What are the ramifications if I walk away from my small business–just turn the keys over to the landlord and walk away? I paid the business loan off with a personal loan.  I have equipment at the site but no longer live in the state. A.:  Walking away from your business is like walking away from a dead relative without having a funeral.  Someone has to dispose of the body–or, in your case, the equipment you’ve left at the site.  Someone has to wrap up estate matters–just as a business should be formally dissolved.  Someone has to take the time to handle outstanding debts–just as you now have this loan on your personal books that has to be paid. There may be outstanding taxes, outstanding invoices, filing fees. If you walk away from the business, depending on your state’s laws, you…

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Nina Kaufman

Flying solo doesn’t have to mean going it alone.

I’m Nina Kaufman.

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.