Draft a Complete Employment Contract
Continuing with the theme of prevention, a wise entrepreneur drafts an employment contract for each and every employee he or she hires. But a wiser entrepreneur ensures the employment contract contains all the terms of the employment agreement, leaving...
Leasing Office Space
Once you’ve outgrown your garage, your home office or your executive suite, you will probably consider leasing commercial office space. The best advice I can give you, the entrepreneur, is to treat the office space lease process the same way you...
Prevention Always Makes Cents, Part II
I wanted to follow-up with you concerning the importance of taking preventative legal steps when starting your business. Googling this weekend, I found a blog entry from Rhonda Abrams, author of The Passionate Entrepreneur on Yahoo! Finance. Here’s...
Prevention Always Makes Cents
A recent Wall Street Journal article detailed the steps you should take to avoid collection problems when expanding your business across state lines. The article suggested prevention was by far the best defense. I believe that’s right, but I’ll...
The Theory Behind Subchapter S
Subchapter S status was enacted so that startup companies and other entrepreneurs would not shy away from choosing a corporate form of organization because of the potential for double taxation. A corporation that elects Subchapter S status is treated...
What The Apple iPhone Teaches You
Today at Macworld, Apple formally announced their jump into the cell phone market with the iPhone. There are two main lessons that every entrepreneur, whether Apple-lover or PC-enthusiast, can take home from this landmark event: (1) You need to protect...
Friends Can Be Bad Business Partners
Launching a startup business with a friend can be an exciting and rewarding experience. However, I suggest you take a moment and really think about what the potential consequences might be. Starting a business is tough and having a friend involved will...
Texas is 9th Best State for Small Business Taxation
Fortune Small Business recently ranked the top 10 U.S. states for small business taxation: 1. South Dakota 2. Nevada 3. Wyoming 4. Alabama 5. Washington 6. Florida 7. Mississippi 8. Colorado 9. Texas 10. Michigan While potential tax savings should not...
