An LLC, or Limited Liability Company, is a company structure that pieces together aspects of other types of companies. Take components of a sole proprietorship, partnership, and a corporation to get an LLC. The company owners are not personally liable for the company’s debts or other such liabilities. An LLC can be owner by one or more people, who are known as members. [ 451 more words ]
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Limited Liability Company: What Is That? · Dowd Law
If you are a small business owner, you may have wondered if setting up an LLC is right for you. As with any type of corporation, an LLC has pros and cons within both structure and practice. To find out if this is the right move for you and your business we explain common LLC pros and cons. Pros To start, probably the most significant benefit of forming an LLC is the protection that it offers. [ 426 more words ]
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LLC Pros And Cons: Is An LLC Right For You? · Dowd Law
As a business owner, one aspect of running the business can be nightmare-inducing: terminating an employee. Or more accurately - trying to properly terminate an employee. Not only do you have to be concerned with how they will react in the moment, you must also concern yourself with the ramifications that the termination may have on your business. It is difficult to know how a former employee may respond. [ 645 more words ]
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How To Properly Terminate An Employee · Dowd Law
You have decided to start a business, so what is one of the first things you will need? A business name, of course! But choosing the right name can be tricky, legally involved, and sometimes even costly. For more information and tips on choosing the right name for your business, read on. If you already have a business name in mind, one of the first things you will need to do if verify that the name is not already in use by another business. [ 457 more words ]
https://dowdlaw.com/choosing-the-right-name-for-your-business/
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Choosing the Right Name for Your Business · Dowd Law
The “do it yourself” trend is growing in all aspects of our lives. From crafts to home renovations, there are resources available online to help people save money and accomplish something. However, there is one aspect of life where D.I.Y. is not always the best option – the law. This has not halted the stream of online “do it yourself” legal resources. [ 408 more words ]
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The Rise of “Do It Yourself” Estate Planning · Dowd Law
Estate planning is a process that takes some work to understand. This is particularly the case with trusts. So many types of trusts exist, and it seems like only financial advisors understand them all. This week we are helping to clarify the details of one kind of trust. Read on to learn all you need to know about charitable remainder trusts. [ 443 more words ]
https://dowdlaw.com/charitable-remainder-trusts-what-are-those/
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Charitable Remainder Trusts: What Are Those? · Dowd Law
One important aspect of running a business that not enough business owners plan for is business succession. This means planning ahead for changes in ownership of the business in the event the owner becomes incapacitated or dies. In an ideal world, business owners would include plans for succession in their estate plans. However, this does not always happen. Here are some of our best tips for successful business succession planning. [ 483 more words ]
https://dowdlaw.com/business-succession-planning/
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Business Succession Planning · Dowd Law - Brandon Business Attorney
Trying to take care of things during the pandemic is stressful, especially estate planning. Due to the coronavirus pandemic and subsequent shutdown, many people have been checking up on their estate plans. With mortality on the forefront of everyone’s mind, especially those of a certain age, its no wonder that preparing for the future would be high on the list of to-dos. [ 424 more words ]
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Pandemic Estate Planning · Dowd Law - Brandon Business Attorney
If you are thinking of starting a business, one of the questions you may be asking yourself is what type of corporation to file for with the IRS. From and LLC to an S Corp to a C Corp and more, there are many types of corporations that that IRS recognizes. Each type has its own benefits and drawbacks. In this article, we will look at S Corps, what makes them unique, and what the pros and cons of this type of corporation are. [ 414 more words ]
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What is an S Corp? · Dowd Law - Brandon Business Attorney
We have previously discussed LLCs and the pros and cons of forming that type of business. Today we will be continuing that discussion by learning all about a C Corp. A C Corp is the most common type of corporation in the United States. What Is It? To put it plainly, a C Corporation, or C Corp, is a business that has its profits taxed separately from its owners according to subchapter C of the IRS code. [ 370 more words ]
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What is a C Corp? · Dowd Law - Brandon Business Attorney
For anyone wanting to start any kind of business, to become official, firstly they need to file articles of incorporation. In this post, we will discuss the steps any business owner needs to take. What Are Articles of Incorporation? Articles of incorporation are the official documents that a business owner must file with a government agency. The filing process is how a business registers an official name, physical address, and lists any officers and/or agents representing the company....
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Articles of Incorporation · Dowd Law | A Law Firm for Small Businesses
With the prevalence of COVID-19 cases in Florida, many people might find themselves considering their estate planning. A proper living will helps ease the burden of loved ones and provides clear guidance to medical professionals. Read on to learn all about living wills in Florida. What is a Living Will? A living will, also called a healthcare directive, provides legal instructions written in advance....
https://dowdlaw.com/living-wills-why-are-they-important/
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Living Wills: Why Are They Important? · Dowd Law
For many teenagers, having a summer or part-time job is a right of passage. No matter why a teenager is working, there are important laws that businesses must follow when employing a minor. Child labor law is very strict both on the federal and state level. If a business owner breaks child labor law, they run the risk of fines, shut downs, and even jail time....
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Child Labor Law · Dowd Law | Brandon Business Attorney
Forming a business is both an exciting and stressful experience. There are many decisions that a person(s) need to make concerning the business. This includes what type of business entity you want to register the business as. Florida is a very business-friendly state and offers many options for businesses to consider. Below we will discuss the difference between a C Corporation and an S Corporation under Florida law....
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C Corporation Vs. S Corporation: What's the Difference? · Dowd Law
Contrary to popular belief, you do not have to be rich or famous to have an estate. While the term “estate” may sound grandiose, it does not mean anything quite so lavish. Your estate simply refers to everything you own when you die. This includes your home, personal property, investments, bank accounts, and any interests in a family business or other partnerships....
https://dowdlaw.com/why-you-should-have-an-estate-plan/
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Why You Should Have an Estate Plan · Dowd Law
In the days of Yelp and Google Business Reviews, it is easy for customers and clients to review any business at any time. Many people check the online reviews of a business before deciding which business to frequent. Negative online reviews of your business can mean fewer customers choosing to use your business. So what are you, as a business owner, to do about negative online reviews?...
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How to Handle Negative Online Reviews · Dowd Law
For anyone that follows financial news, they will often come across terms such as shareholders, the board of directors, and/or corporate officers. These roles all play an integral part in any successful business. In this article, we will discuss corporate bylaws, the documentation that not only defines the various roles people play in the business structure but also outlines other aspects of the corporation....
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Corporate Bylaws · Dowd Law | A Law Firm for Small Businesses
Although Florida is a pro-business state, there are certain requirements that a business must meet. One of those requirements is to provide workers compensation insurance under the Florida Workers’ Compensation Law. Join us this week as we explore the basics of Florida Workers’ Compensation Law. What is the Florida Workers’ Compensation Law? The Florida Workers’ Compensation Law is a law that requires every business in the State of Florida with four or more employees to carry workers' compensation insurance. ...
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Florida Workers’ Compensation Law · Dowd Law | Brandon Attorney
The Consolidated Omnibus Budget Reconciliation Act (COBRA) is an important healthcare law in the U.S. COBRA allows employees and their immediate dependents to participate in a group health insurance plan when the employee leaves their job or has a reduction of working hours. What is COBRA Coverage? Businesses that have at least twenty employees (or more) working full-time must offer group health insurance at a subsidized cost. ...
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COBRA: What is That? · Dowd Law | A Law Firm for Small Businesses