Going into business for yourself carries inherent risks—from lawsuits to creditor claims. To safeguard personal wealth, entrepreneurs must take deliberate steps to protect their assets. This includes forming a limited liability entity, keeping multiple ventures legally separate, obtaining the right insurance, avoiding personal guarantees, and in some cases, establishing a trust. With strategic planning, you can insulate your personal and business assets from many common threats. Learn the key legal tools available to help you protect what you’ve built.

Closing a business is more than just locking the doors—it’s a complex legal process that requires proper planning and execution. From notifying employees and creditors to filing dissolution documents and settling taxes, each step matters. This article outlines the key actions every business owner should take to avoid legal and financial pitfalls when shutting down operations.

Limited liability companies (LLCs) offer flexibility not only in ownership but also in taxation. Whether you're a sole owner or have multiple members, the IRS provides different tax options based on how your LLC is structured. In this article, we break down how LLCs are taxed—whether as a sole proprietorship, partnership, C corporation, or S corporation—so you can make the best decision for your business.

Thinking about using social media influencers to promote your business? While influencer marketing can boost brand visibility, it also comes with legal risks. From creating clear contracts to protecting intellectual property and staying compliant with FTC rules, here are three essential legal considerations every business owner should know before engaging an influencer.

If your business is registered with the state, you must designate a registered agent to receive legal and tax documents on your behalf. While you can act as your own agent, hiring a professional service can provide added privacy, compliance support, and peace of mind. A registered agent ensures you never miss crucial deadlines or legal notices, helping keep your business in good standing. Learn more about why outsourcing this role could be a smart move for your business.

Did you know your California S-Corporation must pay an $800 minimum franchise tax each year—even if you have no income? Learn when it’s due, how it’s calculated, and how to avoid penalties. Read our latest article to stay compliant and keep your business on track.

If you're starting a new business, obtaining an Employer Identification Number (EIN) is a crucial step that many entrepreneurs overlook. An EIN acts as a business’s unique tax ID and is required for hiring employees, opening business bank accounts, and filing taxes. It also protects business owners from identity theft by preventing the use of their Social Security numbers in business transactions. Learn how an EIN can benefit your business and how to apply for one quickly and easily.

Small business owners often juggle multiple roles, including handling their own contracts. While DIY contracts may seem like a cost-effective solution, they can expose businesses to serious legal risks. From missing key provisions to ambiguous language, contract mistakes can lead to costly disputes and unintended obligations. Learn the most common DIY contract pitfalls and how to protect your business with properly drafted agreements.

As your business grows, so do your legal and financial responsibilities. Whether you're adding employees, seeking investors, or reducing tax burdens, choosing the right business structure is crucial. Learn why and how to transition to an LLC, S-corp, or C-corp while ensuring compliance and protecting your assets.

Starting an LLC is a major milestone, but keeping it in good standing is just as important. Failing to comply with state requirements can result in fines, loss of business privileges, or even dissolution. Learn the essential steps to maintain your LLC’s status and avoid costly mistakes.

A Series LLC is a unique business structure that allows multiple legally distinct sub-entities within a single LLC, offering potential cost savings and liability protection. However, not all states permit them, and maintaining the liability shield requires careful legal compliance. With uncertainties in state and federal law, forming a Series LLC demands experienced legal counsel. Learn whether this complex structure is the right fit for your business.

Buying a franchise can be an attractive path to business ownership, offering a proven model and brand recognition. However, it also comes with strict contractual obligations and limited control over key business decisions. Before investing, it's crucial to understand the legal framework, including the Franchise Disclosure Document (FDD), franchise agreement, and potential risks. This article explores the pros, cons, and legal considerations to help you determine if franchising is the right choice for you.

Placing your business interests into a trust can provide long-term protection, streamline succession planning, and help avoid probate. Whether you own an LLC, corporation, or partnership, transferring ownership to a trust allows for seamless management in case of incapacity or death. This strategy can also reduce estate taxes and protect business assets from personal creditors. However, it’s essential to consider potential restrictions in operating agreements and any tax implications. Learn how a business trust can safeguard your legacy and ensure a smooth transition for future generations. Read more to explore your options.

Understanding your business liabilities and assets is key to managing your company's financial health. From grasping the basics of the accounting equation—Assets = Liabilities + Equity—to identifying the impact of these elements on your financial statements, this guide provides a clear framework for small and mid-size businesses to make informed decisions.

In today’s fast-changing market, business model innovation is essential for staying competitive and driving growth. Whether you’re a startup or a Fortune 500 company, adapting your strategies to meet shifting customer needs and leveraging technological advancements can unlock new opportunities. Explore how to reevaluate your business model to stay ahead and achieve sustained success.

Short-term rental platforms like Airbnb have revolutionized the hospitality industry, but investing in this space comes with its own challenges. From navigating legal restrictions to managing operational costs, success requires informed decisions. Learn the essentials for maximizing your investment and staying compliant in this competitive market.

Choosing the right legal entity is critical for your business's success. From sole proprietorships and partnerships to LLCs and corporations, each structure offers unique benefits and challenges. Learn how to make the best decision for your business goals.

Heading to your first meeting with a business lawyer? Learn what documents and details to bring to make the most of your time and get the legal advice you need for your business!

DBAs, or Doing Business As names, allow businesses to operate under a different name than their legal entity. This guide explains what DBAs are, why they're important, and the steps to register one for your business.

Transitioning your business to the next generation requires thoughtful planning and strategy. From choosing the right successor to addressing legal and financial considerations, our guide offers practical insights to help secure your legacy and pave the way for future success.