Fact: The Partnership Audit Rules Have Changed New partnership audit rules for LLCs taxed as partnerships, and Partnerships, took effect January 1, 2018. These new rules, and the new position of partnership representative, greatly change the landscape of partnership audits. For the unweary, these changes appear to be a simple change to your tax filings. […]
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Valuation and Buy-Sell Agreements – A Book Review
Business Valuation for Business Owners – By Zachary M. Sharkey, a book review You probably know by now that I am a huge proponent of the Buy-Sell Agreement (“BSA”) for business partnerships. The BSA serves as a sort of pre-nup for small businesses owned by two or more people or entities. As a business lawyer, […]
5 Steps to Creating Your LLC
Our business startup packages are a great fit for clients that want to start an LLC. However, we meet some potential clients that want to do things on their own. We do not recommend you do, but we know some of you are going to ‘go it alone’ regardless. For those of you doing so, […]
Legal Subscription Plans, Are They Right for Me?
From non-lawyer mega-companies to local law firms, legal subscription plans are adding value to businesses across the country. They come in many forms and at various price points. So, what are they exactly and should you get one? (Note, inherent bias acknowledged. Welch Law provides several affordable Subscription Plan options for small businesses, you can […]
Are You Creating a Job or a Business?
I love asking this question to new, and experienced, business owners because of its simplicity. Yes, the question is simple and straightforward, however, the answer gives me a TON of valuable information. The answer tells me about the company’s goals, the company’s management, and how much engagement I can expect from the owners and managers. […]