Category Archives: Business

Business vs. Hobby: Factors the IRS Considers

A hobby is an activity that someone pursues because they enjoy it without any intention of making a profit. A business, on the other hand, is operated to make a profit.

  How can you tell the difference between the two? Here are the factors the IRS considers:  
  • Does the time and effort put into the...
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3 Asset Protection Tips You Can Use Now

A common misconception is that only wealthy families and people in high-risk professions need to have an asset protection plan.

But in reality, anyone can be sued. A car accident, foreclosure, unpaid medical bills, or an injured tenant can result in a monetary judgment that will decimate your finances.  

What Exactly Is Asset Protection Planning?

Asset protection planning...
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What You Need to Know About Business License and Permit Requirements

If you are starting a new business, there are so many things to consider and think about.

But it’s important, in the midst of all of this, not to overlook federal, state, and local business license and permit requirements. Almost every business, even one that is home-based, is required to obtain some form of license or...
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12 Things You Need to Know About Buying or Selling a Small Business

When buying or selling a business there are many issues to consider and ultimately resolve in order to ensure that both parties receive what they have bargained for.

Every transaction is unique and will require the assistance of your attorney, CPA and other trusted advisors, but at a minimum, the following should be considered:
Confidentiality/Non-Disclosure Agreement When entering...
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