News & Insights

The cost to start an LLC will largely depend on the state of formation. Here are examples of some of (not all) the costs associated with an LLC in several popular states:

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Capital for your startup typically comes from one of three places: self-funding, debt financing, or equity financing. If you’ve chosen to raise capital through equity financing that means you are most likely relying on investors. Money is never free; even Uncle Sam gets his share if you win the lottery. Investors expect a certain amount of return and/or equity in your company when they invest. Yet, you still need to protect your interests and not give away the farm. Protecting your stake in your startup requires clear and formal documentation to solidify any agreement you make with investors.

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If you’re like the hundreds of thousands of businesses who received an SBA loan under the Paycheck Protection Program, you’re likely wondering what comes next? Like you, many business owners are facing a new challenge; employees are refusing to come back to work upon reopening.

Whatever the reason may be, an employee refusing to come back to work could have an impact on your PPP loan forgiveness. Thus, it’s a problem that needs solving.

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When two people agree to form a business together, what would you guess they call it? Naturally, many people use the term “Partnership.” In some instances, Partnership is technically correct, like when two or more attorneys share an office and referrals, or two accountants do the same. However, today the term “Partnership” is misused by many, and it could have an impact on their business.

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For many startups and businesses, hiring your first employees can be an anxious process. Hopefully, this checklist will help entrepreneurs get past the initial hurdles and feel more confident moving forward.

The Ultimate Checklist for Hiring Your First Employee in New York is in chronological order to the extent that some things need to be done before others, but the exact order doesn’t always matter. Do what you can as soon as you can to ensure you comply with federal and state requirements.

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The IRS defines a Partnership as “relationship existing between two or more persons who join to carry on a trade or business.” As such, the partnership does not pay taxes but enjoys pass-through taxation. Each partner shares in the profits and losses of the business. The partners are given a Schedule K-1 (Form 1065) for their taxes.

Every state has its own laws, but typically, there are no formal requirements to establish a partnership, such as filing a document with the state (as is typical for corporations and limited liability companies) or drafting an agreement between the partners.

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