Many small businesses form S-Corps, or S corporations, because such a corporate structure combines the benefits of a partnership with the benefits of a C-corporation. Unfortunately, the state the S-Corp is operating in can dissolve the S-Corp if certain annual maintenance steps aren’t completed. To prevent your S-Corp from being dissolved involuntarily, follow these three steps every year.
Entity management is considered a discipline and will require the right tools to be successful. Here are a few entity management tips to help.
Running a law firm isn’t easy- plenty of risks await you. The rapid increase of cyberattacks is doing little to minimize a law firm’s exposure to risk. Combine that with risks such as inconsistent filing procedures, and you have a gamut of challenges that can halt your firm’s operation.
It is a pity that law firms are viewed with a bit of suspicion. People looking for legal counsel need to feel that you have their best interests at heart. This will require you to nurture your clients’ trust and bring some transparency to your law firm. Here are some practical and effective tips: Act […]
It is 2020, and the world is all about using technology to make life easier. For accounting firms, this means making everything easy and intuitive for your clients. In today’s climate, clients will gladly move on to the next CPA if your services are too complicated. So, how can you modernize your accounting services to […]
The term LLC stands for “limited liability company.” As the name suggests, there are definite legal and financial benefits to forming an LLC. However, creating a new LLC must be done properly in order for your business to remain compliant with federal and state laws and avoid penalties. Here are 2 legal tips on how […]
As a new business owner, one of the things you will have to do is a break-even analysis. A break-even analysis will predict when your business will earn enough revenue to cover the expenses. For an accurate analysis, you will need to predict what your costs and profits will be. Here are some tips to […]
No doubt, buying a law firm is one of the biggest decisions an attorney could ever have to make. As such, it is crucial to make sure the final choice is the right one. Whether you are purchasing a law practice to expand your client base or provide extra services, here are a few things […]
In the world of big data and advanced hacking, protecting your client’s data is more important than ever. Let’s take a look at a few ways you can mitigate your shareholders’ risks when it comes to their data by keeping it as protected as possible. Proper Channels When users are exchanging data however large, it […]
An audit trail is a comprehensive, chronological record of business transactions with evidence that traces each activity back to its source. These records are used to verify the accuracy and validity of data pertaining to things like trades, company spending, and source of funds. Information to Include in Audit Records An audit record or event should […]