Whether it has become impracticable to continue operating, or you are simply ready to move on with your life, there comes a time in many businesses where it is time to shut it down. Terminating a business can be just as exciting and stressful as starting one; the key is understanding your options. There are
Read MoreToday’s ethics lesson is brought to us from the east coast, where the office operations manager at a big law firm plead guilty to embezzling $425,000 from the firm. The manager apparently used a fake social security number and false paperwork to apply for the job because at the time he started to work at
Read MoreIn In re Village Red Restaurant Corp. d/b/a/ Waverly Restaurant, the Bankruptcy Court held that simply owning a business was not fair consideration in exchange for a salary. Village Red Restaurant Corp’s (“Village Red”) operated a restaurant in New York. The sole shareholder was Christine Serafis (“Christine”), who received the shares from her father as
Read MoreSeveral clients or potential clients will tell us they want to start a business, but do not know where to begin. Here is a general overview of things you should consider when starting a business. Forming a Business At a basic level, a business need not be a corporation or an LLC to exist; there
Read MoreIn an effort to combat “money laundering,” Congress passed the Corporate Transparency Act (“CTA”) on January 1, 2021. The CTA is not technically in effect yet; however, we anticipate that it will be the law by January 1, 2022, unless Congress enacts the regulations sooner. As such, “owners” of business entities need to be aware
Read MoreYou will often hear us compare a business relationship to that of a marriage – the fact is, as business professionals we sometimes spend more time with our coworkers than we do our own families. So, when it comes time to start your own business venture, you want to make sure you are being extremely
Read MoreToday’s ethics lesson is not brought to us by a lawyer, but from a doctor in Sacramento who decided to make his traffic court zoom appearance during surgery. The plastic surgeon apparently had been doubled booked and felt confident that he could competently perform the surgery whilst making his court appearance. The clerk, noticed that
Read MoreCongratulations! You have formed your corporation! Operating your business through a corporation is a very smart step from an asset protection standpoint. However, you can only reap the benefits if you follow the rules of the corporations code. Failure to comply with corporate formalities is a factor that courts consider when deciding if they will
Read MoreAs a family-owned business and having several clients that are family-owned businesses, we understand the benefits and appeal of going into business with your family. And while it is fun to work with the dog at the office and nice to know that I don’t have to fear retaliation for taking a “mental health” day,
Read MoreToday’s Ethics Lesson teaches us that you should show up for your client’s trial. A criminal defense attorney (“Attorney”) in Ohio was hired to represent a defendant who was charged with rape of a minor under 13. After the Court denied Attorney’s request to continue the criminal trial to accommodate for Attorney traveling for his
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