This article talks about the importance of keeping meticulous records of everything your business does. It may be a little late for you to apply these practices to your 2019 business taxes, but that doesn’t mean you can’t get your upcoming records up to date as soon as possible and do better moving forward. Good record-keeping definitely isn’t the flashiest or most exciting part of your business. In fact, it can Read More

Exiting your business isn’t a decision to be made lightly. It may have been something you were considering before the COVID-19 pandemic hit, or it could have been something that you’ve had to reckon with because of shelter-in-place orders. Maybe your business had already been struggling, and you’ve had to come to terms with your financial struggles due to long-term closures and loss of revenue. Or perhaps you want to Read More

You may have heard the news that there have been 3 million applications for SBA loans through the recent CARES Act, to the point that the Act has reached its funding limit of $349 billion. Round 2 of funding is all but exhausted already. As a business owner who may have applied for the $10,000 EIDL grant only to later find it is actually $1,000 per employee, or a PPP loan that didn’t get funded before the money ran Read More

There isn’t a single person who isn’t impacted by the spread of COVID-19, in some way. With the sheer number of businesses, public spaces, and school closings, we are all finding ourselves in positions we very likely have not planned for very well.  This is a time unlike any other that we have experienced, and we’re seeing it hit the job market in a big way. Thousands of people have been laid off across the Read More

Scaling your business is about effectively planning and preparing for growth, so as your operation gets bigger, your costs and workload don’t increase to unsustainable levels. To properly scale your business, you should be increasing revenue at a rapid rate, while increasing costs at a much slower rate.  Growth is only sustainable if you have the systems and resources in place to support expansion. In other words, Read More

A case ruling by a Court of Appeals in the summer of 2019 underscores describes how complex partnership agreements can be when they intersect with trusts and other aspects of estate planning. The case, Han v. Hallberg, began all the way back in 2010 when an original member of a partnership, Dr. Richard Hallberg, passed away.  Context In 1975, Dr. Hallberg entered into a partnership with three other dentists for Read More

When you’re starting a business in California, one of the first decisions you’ll need to make is what form it will take. Two of the most common types are LLCs and corporations, and understanding the differences between the two can help you decide which structure will work best for you. An Overview of Limited Liability Companies (LLCs) LLCs are a flexible business structure, which makes them the entity of choice Read More