Good news if your business has been struggling due to COVID-19 or the lockdowns. The federal government has extended the Paycheck Protection Program (PPP) through the end of May to allow companies more time to apply and to allow more time to process the applications....
Barred from PPP loans due to a bankruptcy? Not anymore
The Paycheck Protection Program (PPP) was meant to provide small businesses with the extra cash they needed to maintain their payrolls during the pandemic, when times were bad. The loans are forgivable for those who actually use the money to keep their employees on...
Building a new business? Working for free may be a mistake
When you start a brand-new business, you have to make sacrifices. You’ll be working a lot, naturally. You’ll be networking and building up the connections that will serve you in the long term. There may not be a lot of money at first, even if you secure significant...
What’s the best business entity for a general contractor?
The choice of a business entity involves consideration of your immediate and long-term goals. Choosing to operate as a sole proprietorship, a general partnership, a limited liability company (LLC), a corporation or some other entity has legal, risk and tax...
Protect your legacy – estate planning tips for small business owners
When it comes to estate planning, most people think about their tangible assets such as their house, car and personal effects. They might also think of their intangibles, such as savings accounts, retirement accounts and stocks. What some people fail to take into...
Looks like federal taxes may be rising. Are you prepared?
Over the last few years, Democratic leadership has been calling for increased federal taxes on corporations and wealthy individuals. Now that they have the White House and majorities in the House and Senate, their tax increases are more likely to pass. According to...
When could you be held liable for your business’s actions?
When you organize a business entity, one of the main considerations is liability. Who should be held responsible for damages or debts caused by the business’s actions? Should the owners, members or shareholders be liable? Or is the business its own entity that is...
Is your estate plan going to fail?
Even well-drafted estate plans can fail, meaning they fail to achieve your goals when the time comes. Those goals are generally 1) to distribute your assets to your heirs and beneficiaries; 2) to pay your creditors and taxes; 3) to prevent undue losses of assets or...
Better deal-making requires a long-term perspective
Have you fought hard to close a deal only to have it fall apart during implementation? Have you negotiated a contract that didn’t stand up to real-world conditions? Has a dispute arisen because you didn’t foresee a certain eventuality? There are ways to prevent...
Harmed by false, misleading or deceptive business practices?
If you as a consumer or your business has been harmed by a breach of warranty or any false, misleading or deceptive business practice, Texas law may offer you recourse. The Texas Deceptive Trade Practices Consumer Protection Act (DTPA) allows consumers, including...