Many people scramble to file their annual income tax returns in the second week of April every year. Others, realizing that they have waited too long, may file a request for an extension. They then have several months to gather their records, complete the tax return...
Philadelphia Probate Law And Commercial Litigation Blog
Why due diligence is so important during a business acquisition
The acquisition of another company can help a thriving business perform even better. Business acquisitions give companies access to new resources, such as specific commercial facilities and intellectual property. They can also help the acquiring business establish a...
3 key issues to address when starting a business with a spouse
Married couples often refer to one another as their partners. In some cases, they may actually become business partners. The decision to start a business together can help spouses monetize their skills, social connections or education. They can theoretically provide...
How a contingency plan can save a family business from ruin
For many entrepreneurs, a family business they’ve built is the inheritance they hope to leave their offspring. However, these dedicated individuals may not anticipate that they might face unique challenges regarding continuity when the time comes. Among the most...
Resolving a breach of a confidentiality agreement
Confidentiality agreements, also known as non-disclosure agreements, are common contract inclusions. Businesses of all varieties may include non-disclosure agreements in various contracts to protect the company's competitive advantages. Confidentiality agreements are...
When a business partner embezzles from their company
In theory, business partnerships are mutually beneficial arrangements. Both partners profit from the success of the company and can rely on the investments, hard work and expertise of one another. Unfortunately, not everyone who enters into a partnership does so...
Why retiring adults may want to draft powers of attorney
People preparing for retirement often decide to create estate plans. Not only do they start thinking about their legacy and the need for a will, but they may also want to plan for the potential of their health worsening as they age. Older adults frequently add...
What happens during the audit of a local business?
Running a successful business requires tax compliance. Not only does an individual have to pay taxes on what income they earn personally, but they also have to ensure that the organization they operate fulfills its federal income tax obligations. Those obligations may...
Preparing an adult child to take over the family business
Starting, maintaining or growing a family business can be a point of pride for an individual. The company they run helps them support their family. It may also contribute to the local community by offering important goods and services and providing people with...
The importance of strong business contracts and warranties
If you are a business owner in the bustling Philadelphia metro area, you probably know that every detail of your approach matters. Whether you’re running a cozy cafe in Cherry Hill or a thriving tech startup in Center City, the success of your business often hinges on...