For many companies, especially smaller businesses, the tax code is a large source of unnecessary frustration. While the individual tax code is complex enough, the reporting and filing burden on companies is even higher. In addition to the federal requirements, each state has its own tax code which includes its own tax forms, payment thresholds, filing deadlines, filing schedules, and payment thresholds, among other unique requirements and obligations. Business tax compliance can be a true nightmare.

Businesses use non-compete clauses in order to protect themselves from having employees leave or quit to work at a rival company. The rising value of trade secrets has prompted employers to issue more non-compete contracts. Estimates are that about 20% of the American workforce is subject to a non-compete contract and that 37% have signed one at some point in their career. If you have been approached to sign a non-compete agreement or are contemplating making non-compete clauses a part of your employment practice, you may want to talk with an experienced business transaction lawyer before you move forward.

For a business, regardless of the business entity or the size of the business, taxation is anarea in which even a small mistake can become very costly. Failure to properly account for payments to independent contractors can lead to steep penalties. However, penalties, interest, and additional taxes are not the only consequences a business owner should worry about when making a tax-related mistake. Business taxation mistakes can lead to expensive and time-consuming tax audits.

The signing of the Tax Cuts and Jobs Act the end of the year ushered in several changes to the US Tax Code. Even though tax day comes at around the same time each year, many companies still scramble to get everything in at the deadline since going through receipts, bank statements, and other documents can be a time-consuming and tedious affair. Proactive tax compliance can often make tax preparation a less-stressful affair. In addition, avoiding these four tax mistakes can save you time, money, and stress over the next few years.

In the Commonwealth of Virginia, obtaining a guardianship is a complex undertaking and one you should not attempt without a Virginia estate planning attorney to guide you through the process. Navigating the intricate waters of Virginia guardianships requires the knowledge and skill of an estate planning attorney - and here’s why: what you don’t know can hurt you.

By signing a contract, a business creates a legally enforceable set of rights and obligations. Therefore, when a business chooses to enter into a contract, it is imperative that it fully understands the terms of the agreement and their consequences. Usually draped in confusing and complex legal terminology, any business contract should be reviewed by a competent and knowledgeable business transactions attorney. There are, however, a few parts that anyone entering into a business contract should look out for.

For most, the basic purpose of owning and operating a business is to make a profit. Not only is selling a business an opportunity to maximize your profits, it can sometimes be the most the most profitable business decision. Whether you are planning on selling your business within its first few years, first few decades, or never at all – it is always a good idea to have a comprehensive exit strategy, so the taxpaying business can plan for any situation that may arise down the road.

If you have an aging loved one who is starting to behave in an uncharacteristic manner such that you are worried about his well-being, you might be thinking about how to help him. You are mulling over whether you should have him live with you, set up assistance for him at his home, or talk with a lawyer with guardianship experience about legal options to safeguard him.

The sweeping tax reform bill known as the Tax Cuts and Jobs Act will overhaul the way the tax code treats businesses – whether small businesses or large multinational corporations. While it is not possible to gauge the exact ways different provisions will impact small businesses, it is very likely that the overall tax burden will be reduced for the majority of small businesses.

In its simplest form, a power of attorney is a legal document that gives another person the authority to takes certain actions on your behalf. Every state allows power of attorney documents, but each state follows its own rules for creating and using them. Enlisting the help of an attorney that is experienced in dealing with powers of attorney can save you money and heartaches in the long run.

You came up with a great idea for a business. You might even have drafted a business plan.

Before you can move forward, one of the key questions that you need to decide, especially if you need to raise start-up capital, is what business entity to choose. Before you set up a structure, you must decide, what business entity is right for your company. A good business transaction lawyer can assist you in determining the right business entity before you make a costly mistake. Before you take that step, take a look at the pros and cons of some of the most common business entities out there.

The courts in Virginia, Maryland, and the District of Columbia (DC) that handle probate cases primarily deal with the administration of an estate after a person dies. They also deal with the property of minors and incapacitated adults, as well as trusts and wills. If you are dealing with probate in these areas, you may be asking the question, how does probate work?

With the Tax Cuts and Jobs Act (TCJA) expected to save taxpayers over $1.5 trillion in the next decade, the massive overhaul will likely reduce the tax burden for most American and businesses. However, in any sweeping overhaul, there are certain aspects of the tax code that will be changed to either reduce a tax burden or increase tax revenue. Maryland taxation attorney, Steve Thienel talks about the pros and cons of the new tax bill and how it may affect you and your family.

Now that the Tax Cuts and Jobs Act (TCJA) has passed Congress and signed by the President, many business owners are wondering what the sweeping overhaul of the tax code could mean for their business. The new tax bill represents the largest overhaul of the tax code in decades. In general, the news for businesses is good. From large corporations to small business owners, TCJA could significantly reduce taxes for all businesses.

As a business owner, you will most likely have people working for you at some point in your company’s existence. These workers can either be employees or independent contractors. How they are classified makes a significant impact on their rights and protections. Contrary to what many business owners believe, it is not the title you give that determines whether a person is an employee or independent contractor - it is the working relationship you that you share.