You and your business partners are perfectly aligned. You have a brilliant idea, complementary skills and a high level of trust. With all that chemistry, a formal agreement might seem unnecessary. After all, what could go wrong when you’re all committed to the same...
Built on Relationships and Integrity
Business Formation & Planning
Are you personally liable for business loans?
If you’re looking to start a business, part of the process may simply be taking out loans. After all, you may know that you have a good business idea and that there is a demand for your products and services. The company is going to make money in the future, but you...
The 3 main types of buy-sell agreements
Buy-sell agreements provide a clear, legally binding framework for the organized transfer of business ownership when triggering events occur. With a buy-sell agreement, you can make a typically disruptive transfer as smooth as possible. This is especially true when...
What are the downsides of a sole proprietorship?
Starting your own business is an exciting journey filled with dreams of success and independence. While many new entrepreneurs are drawn to the simplicity of a sole proprietorship, this path comes with its own set of risks. This short blog outlines the hidden dangers...
Understanding H-1B visa rules in the era of remote work
Remote work continues to be prevalent, even after the height of the COVID-19 pandemic. It has changed everything from job dynamics to real estate and population patterns. However, this shift poses new challenges for employers, especially in maintaining visa compliance...
What to include during due diligence when buying a business
Buying an existing business can be an ideal option for aspiring business owners who want to hit the ground running. This route may have specific benefits, such as an established clientele, a stable flow of earnings and a tested business model. It may look like a...
Why you should think twice before creating a sole proprietorship
If you’re thinking about getting a business up and running, then you might consider creating a sole proprietorship. Using this business structure is simple in its creation, and it allows you to retain full control over every aspect of your business, which is why many...
Starting a business in Illinois is expensive, but may be worth it
Illinois is a popular place to start a business, but not necessarily an easy place for entrepreneurs. A state government report revealed that Illinois led the Midwest in the number of filings for new business startups in 2021. Indeed, it was among the top 10 states in...
IRS business entity options
Starting a business is hard and can be complicated, especially when you finally need to make it, “legal.” Part of getting right with the law is deciding on the right business entity, and broadly, the Internal Revenue Service recognizes several business types: the sole...
What is a limited liability limited partnership?
Proper business organization requires a fundamental understanding of many converging factors: financial investment and profits, management structure and personal and entity liability. A relatively new type of business entity, the limited liability limited partnership,...
