Starting a side business often begins as a way to earn extra income, but as it grows, you may wonder whether you should form an LLC for it. The answer depends on your business's activities, risks and future plans. Here are a few factors to consider before deciding....
Business Formation
How do you remove a business partner from an LLC?
Removing an employee and removing a business partner are two very different things. If you share ownership of an LLC with someone who is creating problems for the business, you may be asking a much bigger question: can that person be removed? Start with the operating...
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...
Non-compete agreements should no longer stifle entrepreneurship
Entrepreneurs hoping to start a new business often create contracts as a way of protecting their interests. However, for some people, existing contracts may be the main issue deterring them from starting a new business. People who accept positions with existing...
What could happen to your family business during divorce?
Small businesses are very common in the United States and many married couples see them as a chance to take control of their future and their finances. If you’re thinking about starting a business, you may be wondering what’ll happen if you and your spouse get...
3 reasons a business may need to change its legal type
Those starting a new business often think very carefully about what type of legal entity they want to create. There are benefits and drawbacks to each business type. Some people will drive the most benefits from a simple sole proprietorship, while others may want to...