How Do I Start a Home-Based Business?
The number of people working from home has never been higher. During the pandemic, many workers got a taste of the remote-work future and realized that they prefer to work from home. Now, as companies move ahead with return-to-office plans, there is an emerging power...Japan’s Strict Gun Control Failed to Prevent Assassination
Breitbart reports: Japan has some of the most “restrictive” gun controls in the world – legal provisions that appeared not to prevent the assassination of former Prime Minister Abe Shinzo at the hands of an apparent lone gunman on Friday. It was a homemade shotgun....What Is a Nonsolicitation Agreement, and Should I Use One?
You have invested a lot of time and money in developing your employee, customer, and vendor relationships. You cannot stop your employees from walking out the door, but you may be able to limit their ability to take other employees and business relationships with...What Happens When an LLC Member Dies?
In theory, a limited liability company (LLC) can last in perpetuity. However, the owners of an LLC should plan for the day when they are no longer there to run their business. This includes not only situations like retirement or career change, but also a decidedly...What Is an Equity Purchase Agreement and Why Do I Need One?
An equity purchase agreement, also known as a share purchase agreement or stock purchase agreement, is a contract that transfers shares of a company from a seller to a buyer. Equity purchases can be used to acquire a business in whole or in part. They are frequently...Complying With Estimated Quarterly Taxes
Tax day is one of the most important—and one of the most dreaded—days on the calendar for working Americans. If you have had a side gig or even transitioned to full-time self-employment, you may have to make estimated quarterly tax payments. Not everybody who earns...Using a Deferred Compensation Agreement in Your Business
The war for talent is heating up. A record number of workers have quit their jobs this year, creating a massive problem for employers. While higher pay can help get new workers in the door of your business, wages alone may not be enough to keep them there. Employers...Using a Liability Waiver in Your Business
Exposure to lawsuits involving injury and loss claims is among the biggest risks that businesses face. Although liability waivers are most commonly used by businesses that offer inherently dangerous activities, such as ski resorts, amusement parks, and gyms, they can...22-year-old Handgunner with No Permit Stops AR-15 Armed Mall Attacker in Greenwood Indiana
Federal law unconstitutionally bans the sale of handguns to adults less than 21 years of age. Yet this 22-year-old hero, Elisjsha “Eli” Dicken, was alone able to take out a mall attacker armed with a rifle, who had already killed three and injured two....Most Common Tax Deductions for Small Businesses
There are many expenses incurred in starting, running, and growing a business. Luckily for business owners, many of these expenses can be deducted. Knowing which expenses you can deduct helps to lower your tax burden and keep more money in your business. However,...How to Pay Yourself When You Own an LLC
One significant advantage of organizing your business as a limited liability company (LLC) is the flexibility it affords. The Internal Revenue Service (IRS) allows LLC owners to choose how their business will be taxed. As an LLC owner, you can be taxed as a sole...California Just Made This Picture of My Daughter Illegal (AB 2571)
California just enacted AB 2571 to restrict the ability of gun owners to transmit gun culture to their kids. This blatantly unconstitutional act bans advertising that may attract minors to firearms and the penalties for violation are huge, up to $25,000 per...Hobby or Business: What Factors Does the IRS Consider?
There are some activities we engage in outside of work strictly for personal reasons, with no thought of ever profiting from them. You might, for example, enjoy photography, hiking on the weekends, or collecting classic records. There is no monetary gain—and no...Firing with Grace
Small business owners are accustomed to having grace under fire when it comes to running their business. But it is just as necessary that they demonstrate grace when firing an employee. Due to harsh economic conditions, some sectors of the American economy had to...Can I Provide Services Instead of Capital to a New LLC?
Small business owners put their blood, sweat, and tears into ensuring the success of their company, which, though difficult to measure, are no less valuable than capital contributions. At the same time, if you are investing your time and energy into a limited...Supreme Court Sends Back Gun Cases that Upheld Bans on Open Carry, Magazines, Assault Weapons
The Supreme Court today (order list) issued “GVR’s” — granted certiorari, vacated judgment, and remanded to lower courts for reconsideration in light of NYSRPA v Bruen — in four cases that had upheld bans on open carry, magazines, and...How to Talk to Your Family About Business Succession
Benjamin Franklin famously quipped, “If you fail to plan, you are planning to fail.” From the very beginning, you had a plan for your business to succeed. You set goals and developed methods to achieve those goals. Your business has stood the test of time because you...California AG Bonta Doxes All California CCW Holders
If you have a California CCW, or if you have applied for one, then you were doxed yesterday and today by California Attorney General Rob Bonta and his merry band at DOJ. “Doxed” means a great deal of your personal, confidential information was released to...California AG Ditches Good Cause, Pitches Moral Character for CCW Denial (What is Bonta Smoking?)
Last Friday, one day after the Supreme Court’s landmark NYSRPA v Bruen decision (analyzed fully here), California’s Attorney General Rob Bonta rushed out a bizarre letter offering inept guidance to various state officials involved in issuing concealed...Supreme Court Rules in Favor of Praying Coach, School Violated His #1A Free Exercise and Free Speech Rights
In the case of Kennedy v Bremerton School District (slip opinion), SCOTUS today ruled in favor of a high school football coach who was terminated for kneeling and praying mid-game on school grounds, in violation of his First Amendment rights to free speech and to free...NYSRPA v Bruen Exceeds Expectations
Now that I’ve read the full majority opinion and concurrences, I have a few comments and predictions to make regarding NYSRPA v Bruen (I’ve omitted citations, so please just go to the actual opinion and use CTRL-F if you need to find something). I ignored...Supreme Court Overrules Roe v Wade, Returns Abortion Issue to People and Elected Reps
The Supreme Court of the United States, a few minutes ago, released its opinion in Dobbs v Jackson overturning both Roe v Wade and Planned Parenthood v Casey, thus returning the issue of abortion to the People and their elected representatives. The decision is either...Supreme Court Strikes Down Restriction on Right to Bear Arms in Public – NYSRPA v Bruen 6-3 Decision for 2A!
In a blockbuster decision released minutes ago, the Supreme Court of the United States has held with a solid 6-3 majority in the case of New York State Rifle & Pistol Association, Inc. v. Bruen, that New York’s statutory restriction against bearing arms...What You Need to Know about S Corporations
S corporation status is one of several tax classifications that you may be able to elect for your enterprise. For C corporations and limited liability companies (LLCs) that qualify, S corporation election offers shareholders advantages that include pass-through...Supreme Court Strikes Down Maine’s Anti-Religious Tuition Assistance Program
In an opinion released today, the US Supreme Court struck down a Maine tuition assistance program assisting parents of kids located in districts without a secondary school to help them send their kids to private school. However, the program was for...What You Need to Know Before Starting a Franchise
It has been a tough couple years for small businesses. Across the country, millions of small businesses have temporarily closed their doors due to the COVID-19 pandemic. Even now, as the pandemic eases and operations begin to pick back up, many small businesses report...What Is Reverse Veil Piercing and How Should You Protect Against It?
Normally, limited liability business entities, which include corporations and limited liability companies (LLCs), prevent the entity’s creditors from going after an owner’s personal assets to satisfy their claims. But in rare circumstances, courts allow piercing of...How to Set Up Your Board of Directors
You might think that a board of directors is something that only big companies have, but all S corporations and C corporations—even small businesses—are legally required to have boards of directors. Specific rules for the board of directors are established in the...The Basis Optimized Trust (BOT)
The Basis Optimized Trust (BOT) is an advanced option for planning that may yield better results than the more common types of irrevocable trusts, such as credit shelter (bypass) trusts, or qualified terminable interest property (QTIP) trusts, which have been the...How to Conduct an Effective Employee Performance Review
Employee performance reviews can be stressful for workers and managers alike. Now more than ever, with workers quitting their jobs in droves as part of the “The Great Resignation,” managers may be hesitant to provide direct, constructive criticism that could be...What Is a Business Grant and How Do I Obtain One?
A business grant is a form of financial assistance given to a company by a government agency or private organization for a specific purpose. Grants, unlike loans, do not need to be paid back. Despite this benefit, finding a grant that your business qualifies for and...How Do I Prepare To Meet with a Business Lawyer?
Businesses are governed by laws and regulations that affect nearly every aspect of their operation. From formation, hiring, and firing, to drafting contracts, resolving disputes, and dissolving or selling the company, there are numerous legal matters that arise during...Personal Guarantees: What Are They and When Are They Required?
Your new business needs a capital infusion to get off the ground. The only problem is that a new business is not established enough to have generated a business credit report. It may also be lacking assets that can be used as loan collateral. Without a business credit...Key Person Insurance: What Is It and Do I Need It?
We protect what we value most with insurance. Car insurance and home insurance ensure that we can financially survive a major property loss. Life insurance pays money to beneficiaries after a death, acting as a financial lifeline to the deceased’s loved ones. Business...Business Ownership Considerations for Non–US Residents
Moving to a new country and starting a life there presents myriad challenges. Founding a business in the United States as a nonresident can be even more challenging. It requires navigating a convoluted immigration system, which specifically lacks a startup founders...Considerations Before Owning a Business with Your Spouse
Both running a successful business and having a successful marriage require commitment and hard work. Operating a business as a married couple can present its share of challenges, but being devoted to one another as spouses and as business partners can bring higher...Business Ownership and Divorce: What You Need to Know
Divorce is rarely simple. When two people’s lives are intertwined—physically, emotionally, and legally—separating the individual strands can be a task akin to untying the Gordian knot. The longer a couple has been together and the more they share, the more difficult...59% of Ukrainians Support Right to Carry Gun in Public (Government Poll)
59% of Ukrainians who took part in a poll through the Dіia application are in favor of allowing all citizens to have a gun and carry it in public places. Deputy Prime Minister, Minister of Digital Transformation Mykhailo Fedorov announced this on Facebook, Ukrainian...This Month SCOTUS Will Recognize Your Right to Bear Arms – Are You Ready?
This month, June of 2022, the Supreme Court of the United States, in the case of NYSRPA v Bruen, will hold that you have a fundamental individual right to carry a firearm for self-defense outside of your home, in public. Not that you don’t already have that...Why You Should Consider Putting Your LLC into a Trust
The limited liability company (LLC) is a popular business structure that offers liability protection and avoidance of double taxation. Trusts are popular asset transfer vehicles that allow you to avoid probate and keep assets out of the hands of creditors. By placing...Woman with Pistol Stops Attacker Firing AR-15 at Grad Party
In Charleston, West Virginia, a woman licensed to carry a pistol used it to stop a man who was shooting up a high school graduation party. The man was speeding at an apartment complex and was asked by party attendees to slow down, because of kids nearby. Apparently...Prodigal Son Breaks News To Dad That He Spent His Entire Inheritance On Gender Studies Degree
I stole the title of this post from a great Babylon Bee article that just came out. For those who don’t know, Babylon Bee is satire. Strangely, their satirical articles often do come true. And this particular title hews closely enough to family settings often...Ukrainian App Diia Launches Poll on Arming Civilians
[UPDATE — POLL RESULTS: 59% of Ukrainians supported right to carry gun in public] The Ukrainian application “Diia” (digital documents and government services) launched a survey on the attitude of Ukrainians to the legalization of weapons for...Another Mass Shooting at School without Armed Teachers
[UPDATE: If I’d have held off on posting a bit, the title might have been “Cops Kill 19 Kids and 3 Adults in Uvalde, TX”. So much info has come out putting cops in a bad light here, preventing not just parents entering but even preventing a border...Should My Business Use Arbitration Clauses?
Arbitration provisions, which allow legal disputes to be settled outside of the court system, are increasingly found in contracts of all kinds, including employment contracts. A series of court rulings over the years has spurred the increased use of arbitration...What Is the Difference between a Trust and an LLC?
Trusts and limited liability companies (LLCs) are both legal vehicles that can be used to manage and protect assets, minimize taxation, and avoid probate. Whether a trust or an LLC is a better choice may depend on the type of asset, but you do not necessarily have to...NINTH CIRCUIT PANEL STRIKES SEMI-AUTO RIFLE BAN FOR YOUNG ADULTS
Good tidings from the Second Amendment Foundation: A three-judge panel for the Ninth U.S. Circuit Court of Appeals on Wednesday struck down a California prohibition on sales of semiautomatic rifles to young adults in the 18-20-year-old range, remanding the case back...Considering Bankruptcy for Your Small Business? Here Is What You Need to Know
Starting a small business entails significant risk. You forego the security of a steady paycheck to create economic opportunities for yourself. Business failure rates have remained steady over the years, but the statistics are pretty daunting: by the five-year mark,...Member-Managed vs. Manager-Managed LLCs: What Is the Difference?
When setting up your business, one of the most significant decisions you will make is which type of entity to form. If you have settled on forming a limited liability company (LLC), you must also choose the type of management structure it will have. LLCs can be...
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