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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.
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.
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.
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.
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.
A common question clients ask attorneys is whether they need to file trademarks for their intellectual property. However, many people are unfamiliar with what trademarks protect, how to register a trademark, or how trademarks benefit their business. Our Maryland business attorney answers these questions in this primer about trademarks.
You might know your company inside and out but not know how to start when you decide to sell your business. Not to worry. Here are the top 5 tips when selling your business that could help you avoid making mistakes or having regrets later.
If most people realized how much risk they face every day when owning a small or medium-sized business (SMB), they might think twice about being their own boss or having an ownership interest. Thankfully, there are ways to protect yourself and your personal assets from getting taken by a creditor or someone to whom you might have liability.
For many, part of the American dream is about starting your own business. If you work hard enough and smart enough, you just might make a bundle doing what you love. One roadblock holding many people back is not knowing how to start a business.
When your company ventures into the online world of the metaverse, you will want to plan the expansion of your business carefully so the potential financial rewards do not get offset by some of the various problems inherent in this arena. The first step of your metaverse planning should be to educate yourself on the risks. The second step is to develop a strategy to protect your assets and minimize liability exposure.
Most people are not content simply to walk away from a company they built without having any input about who will follow in their footsteps and how the business will function in the future. If you have partners, you should have a plan to make things go smoothly if one of them suddenly retires, dies, or has to leave the company. A business succession plan can address both of these issues.
While trying to describe the Metaverse with precision is a bit like trying to nail Jello to the wall, it can be even more challenging to discuss tax issues of the Metaverse. The Internal Revenue Service (IRS) has not yet provided much guidance on the taxation of operating in the Metaverse, but you can bet they will find a way to tax Metaverse transactions, capital gains, and profits.
If you do business within Maryland involving selling, lending, leasing, renting, or creating bailments of any consumer services, goods, or realty, you need to understand the Maryland Consumer Protection Act to make sure you do not violate its requirements. Consumers could file a complaint with the Maryland Attorney General’s Office or sue your company directly for money damages and their attorney fees.
The COVID-19 pandemic thrust nearly everyone into a different way of working and doing business than ever before. People had to quickly adapt to working from a home office instead of going into the office every day. Many places are open again, but with some significant differences.