What is an S Corporation and Why Form One in Massachusetts?
The “S Corporation” gets its name from the IRS code provision (Subchapter S) that allows for a shareholder-owned corporation with just one layer of tax (as opposed to a Subchapter C corporation that is taxed twice: once on corporate profits and then a second time on proceeds to shareholders). The S Corporation is formed at […]
Is the Family Business Protected? | Cape Cod Business Lawyer Succession Plan Pt. 1
A great portion of business planning intersects with the more complex aspects of general estate planning. Most business owners have family members that rely on this income for support, so that some kind of plan should be in place to provide for them should the business owner pass away. In Massachusetts this can be true […]
How to Register an LLC | Massachusetts Business Registration
When an individual proprietor or partnership begins to think seriously about preserving the protection and longevity of a business, registering the business as a limited liability entity is one of the first steps. Many considerations about the nature of the business come into play during this process, and a number of government entities must be […]
10 Employee Handbook Tips Pt. 2 | Human Resources and Massachusetts Business Law
Companies that hire or plan to hire employees need to consider the mechanics of the workplace in a comprehensive manner. This exercise not only lays out expectations for the workers at a company, but like estate planning, it forces the employer to organize his or her own expectations in an organized handbook format. Below are […]
10 Employee Handbook Tips Pt. 1 | Human Resources and Massachusetts Business Law
Among all of the steps a business owner will make, hiring employees can be one of the biggest, especially for those doing business in Massachusetts. As a small law firm that helps families and business owners alike in wealth succession and asset management, we know this from practical experience. For the sole proprietor especially, hiring […]
How to Buy a Business in Massachusetts
While hundreds of people each month start a business in Massachusetts, only a handful of them actually go through the formalities that will be necessary to be legitimate. This is because it is often unclear to the entrepreneur whether she will actually make a substantial income, or whether the business will be more of a […]
Inc. or LLC? | 5 Factors to Consider on the S Corp. and LLC
Almost anyone in business for him or herself seems to have a strong opinion one way or another on whether an S Corp or an LLC is the best small business entity. It is probably not uncommon to find a Certified Public Accountant somewhere behind this unusual passion, since CPAs are known for recommending their […]
What is in an LLC Operating Agreement?
When a person decides he needs to form an LLC (Limited Liability Company), learning the basics and gathering together the necessary information and materials takes a little work. Drafting the LLC operating agreement is one of the most important parts of this process. This is because the LLC is controlled entirely by the terms of […]
How Do I Start a Business in Massachusetts? | 10 Factors Pt. 2
Starting a business can be both invigorating and exhausting all at the same time. To work for yourself offers great freedom, and of course great responsibility. The following is a continuation of a 2 part article on factors you should consider when starting a business in Massachusetts. These are simply suggestions you may not yet […]
How Do I Start a Business in Massachusetts? | 10 Factors Pt. 1
Starting a business can be both invigorating and exhausting all at the same time. To work for yourself offers great freedom, and of course great responsibility. Naturally then, it is wise to stop and set a proper foundation appropriate for the unique needs of your enterprise. While this should by no means be treated as […]