As the end of the year approaches, do you have your company’s annual meeting planned? Have you drafted your company’s annual minutes?
In my experience with helping my clients negotiate the buying or selling of their business, whether to a third party, or to their soon-to-be ex- partner, the same pitfalls arise time after time. But, by understanding what they are and how to avoid them, you can go into the sale confidently. As always, the devil is in the details and you need experienced legal counsel to draft your terms.
You've got a cause you care about — now you just need the legal status that will help your organization raise money and work for that cause. Here are four steps to help you understand the process, but as always, call Wick Law for more details.
Right now, developing new ideas to supplement core products and services is one way businesses are continuing to operate and stay relevant. Post COVID-19, your small business may need to pivot and re-configure the day-to-day.
Many business owners choose to form their business as a Limited Liability Company (“LLC”) because of the protections afforded by this business structure. LLC members are able to protect themselves from certain debts and threats (lawsuits) that they would otherwise be exposed to. In other words, an owner/operator will not generally be held personally liable for the acts of the LLC.
. UNEMPLOYMENT Pandemic Unemployment Assistance Program — The CARES Act, through the temporary Pandemic Unemployment Assistance program gives access to individuals not traditionally eligible, including self-employed, independent contractors and “gig workers” and those with limited work history, who are unable to work as a direct result of the coronavirus.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help businesses keep workers employed during the pandemic and recovery. Most important to small businesses: •$10 billion has been set aside for emergency loans to help small businesses keep workers employed, including some that are forgivable; •$17 billion for loan subsidies through the SBA; •and $350 billion in loan guarantees.
Wick Law wants to provide small business owners with the latest COVID-19 related policies that could impact your business. See below for recent policy updates impacting your taxes, unemployment and workers’ compensation.