THIENEL LAW BLOG
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Choosing the right business entity is an important phase in business formation. Each type of business entity has certain advantages and disadvantages for the partners, including personal liability protection.
Imagine receiving a notice from the Internal Revenue Service (IRS) about a tax audit or finding out that you owe a significant amount in back taxes. Navigating the complex world of tax laws and regulations can be overwhelming, but there’s one professional who can help you through these challenges: a tax attorney.
When a person dies in Maryland, their property becomes subject to Maryland inheritance law. Understanding Maryland inheritance law and how it impacts property distribution is essential to ensure your wishes are fulfilled after your death.
Are you self-employed? Being self-employed has many benefits. You can set your own hours and decide what jobs you take. However, you cannot escape paying federal income taxes. Our Maryland tax attorney discusses self-employment tax in this article, including ways to prepare for and minimize self-employment tax.
As a small business owner, understanding the impact of federal withholding tax on small businesses is crucial. Not only does it affect your employees’ paychecks, but it can also have significant implications on your business’s financial health and compliance with tax laws.
As person-to-person (P2P) payment apps, such as Venmo, become increasingly popular among businesses, it is essential to understand their tax implications.
Do you know how personal versus business transactions on these apps can be taxed differently?
Navigate the complexities of arbitration agreements in employment with clarity. Protect your rights and understand your options with our expert guidance.
The Internal Revenue Service (IRS) conducts roughly a million tax audits each year for the federal government. The purpose of an IRS audit is to review and examine an individual’s or organization’s financial information and accounts. The IRS wants to determine if the information reported on a federal tax return is accurate and complies with tax laws.
You’ve made the difficult decision to close your business. Depending on the company, winding down a business can take several weeks or months. If you have a plan and a checklist for closing a business, it can make the process easier. Our Maryland business lawyer explains how to dissolve a business in Maryland in ten steps.
The Job Applicant Fairness Act restricts the use of credit reports by employers in making employment decisions. The law applies to current employees and job applicants. However, several exceptions under the law allow employers to use credit histories for employees and job applicants in specific circumstances.
Tidying up financial affairs and documenting one's final wishes are essential tasks that everyone should take care of sooner rather than later. Increasingly, estate attorneys are meeting with clients seeking to control their legacies by creating a trust in Maryland and using advanced estate planning tools.
Navigating the world of business contracts can be a daunting task. With a myriad of different types of agreements, each with its own unique terms and conditions, it's easy to feel overwhelmed. Whether you're a seasoned business owner or just starting out, understanding the ins and outs of these contracts is crucial to protect your interests and ensure smooth business operations.
The rise of remote work has brought with it a complex web of tax obligations and tax rules. As a remote worker, you may face uncertainty about your income tax responsibilities, especially if you're working across state lines or even internationally.
Maryland business owners need to know much more than how to serve their clients and customers. They need to know how to open and operate a business that complies with federal and state regulations and laws. Maryland Business Express can help. Our Maryland business lawyer explains MD Business Express and how to open a Maryland business.
The Internal Revenue Service (IRS) has announced new tax laws and changes for 2023 that could have a significant impact on your wallet. It's crucial to stay informed and prepared, especially when it comes to filing tax returns for the 2023 tax year. Keep reading for a breakdown of the key updates you need to know.
Stay up to date with the latest information on Supplemental Security Income (SSI) and the COLA 2023 update. Our detailed blog post breaks down the changes, eligibility criteria, and ensures you receive the benefits you deserve.
When selling your business, taxes should not be underestimated. Our informative blog post provides expert advice and practical tips to ensure you navigate the tax implications successfully, maximizing your profits.
Explore the legal implications of using ChatGPT in business and gain valuable insights to navigate the gray area effectively. Our comprehensive guide provides the necessary information to make informed decisions.
Discover the aftermath of Silicon Valley Bank's collapse and its implications for businesses. Gain valuable insights to stay ahead and make informed decisions in our thought-provoking blog post.
In this guide, our Maryland business lawyer covers the benefits of setting up a Maryland LLC while explaining the legal requirements under Maryland law you must meet to maintain the benefits of being a Limited Liability Company.
You worked hard to build your business for yourself and your family. It is time to pass the company to the next generation. However, what would seem to be a simple task of “giving” the business assets to your kids could create tax liabilities and other legal problems for you and your kids.
Licensed professionals can join together to form a business entity in Maryland. They may choose one of several business entities. Choosing the correct professional entity is crucial for protecting your business and personal interests.
Many small business owners build their companies to ultimately pass to their children. However, gifting a business is more complex than handing the building keys to the new owner.
Ideas, processes, and designs have intrinsic value. Protecting that value is crucial for individuals and businesses. Patents protect an invention by granting a property right to the inventor.
Financing your business might seem overwhelming. You cannot grow your startup company without funds. However, what is the best way to finance your business while protecting your company and your personal assets?
It can be difficult for an entrepreneur to obtain seed money for a new startup. Investors want to see a valuation for the company. However, without initial capital investments, getting the company off the ground to create value might be difficult.
The convertible note, also called a convertible bond, is a financial instrument that lets its holders exchange them for equity in the company. These instruments are usually issued by corporations and governments to raise capital.
The 1929 stock market crash was the catalyst for federal laws designed to protect investors from companies that made dishonest claims about the financial stability of their businesses.
An NDA or nondisclosure agreement protects a company’s sensitive information, trade secrets, and intellectual property. The agreements prohibit employees, vendors, contractors, and other parties from disclosing the company’s confidential information. The agreements also outline when a party can disclose information and the guidelines for doing so.
United States copyright laws protect an original work of authorship, so the creator has the legal right to control the release, use, and distribution of their creations. If you are unsure whether you need to copyright your material, it helps to understand the basics of copyrights. This primer has answers from our Maryland business attorney to frequently asked questions about copyrights.