While it might at first seem counter-intuitive, initial ownership of founders equity in your startup should not be based on entirely on who had the idea or who has contributed the most so for. The nature of startup relationships are unpredictable, and oftentimes founders have different ideas on what is […]
So, you’ve decided to act on your million dollar idea and formed a company. You’ve got an exciting product, momentum, and your workload is at the point where you need to bring in additional employees to help carry out your vision. What’s that you say? Not enough cashflow to pay […]
Startup and growing companies often use deferred compensation as an effective way to attract and retain important employees. Unfortunately, this process has been complicated by a recent tax change that significantly penalizes a broad range of “non-qualified” deferred compensation plans. Under Section 409A, deferred compensation which does not meet certain […]
Many online retailers do not collect state or local sales tax on customer purchases—a significant advantage that may be in jeopardy. Large online retailers, such as Amazon.com, have defended their decision not to collect sales tax by citing a 1992 U.S. Supreme Court decision. In that decision, the Supreme Court […]
Startup companies often seek to retain their founders and critical employees through the use of equity compensation. To ensure that these top people are committed to the company for the long-term, it is often a good idea to issue stock subject to buy-back provisions (founder’s restricted stock). However, shareholders must […]
Venture Capitalists (“VCs”), Angel investors (“Angels”) (i.e., accredited investors), and Business Development Companies (“BDCs”) fulfill generally the same role: to help small and medium-sized companies obtain financing when more traditional means of funding (e.g., bank financing) are unavailable. Bank financing, though, almost always requires accounts receivable, inventory, buildings, equipment or […]
On December 17, 2010, President Obama signed the 2010 Tax Relief Act into law, and among other things, extended the 100-percent tax exclusion from capital gains of qualified small business stock (QSBS). As background, on September 27, 2010, President Obama signed H.R. 5297 Small Business Jobs Act of 2010 (P.L. […]
It can be a huge money-saver for a small business to get into the practice of working with independent contractors. Using independent contractors will lower a companies tax bill, require less withholdings, and in some states, reduces the obligations under workers’ compensation requirements. As a result, many small businesses advantageously hire independent […]
Franklin County Job and Family Services is offering a Subsidized Employment Program covering between 65 and 100% of a qualified employee’s wages for a period of time (about 6 months). Here’s a link to their website; more information can be found on the PDF’s they link to on the […]
In 2009, many Ohio counties reappraised real property and assigned new values that will be used to determine property taxes through 2012. The deadline to contest these valuations in March 31, 2010. While not always cost effective, many owners of high value property are finding that in light of the […]
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