Choosing Your Business Structure

When starting a business, the first question you ask is “What type of business structure do I want to create, a corporation, an LLC, or a partnership?” From a legal point of view, I am only concerned with a company’s liability protection. Most times I refer this question to the business owner’s accountant. The business […]

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Expanding Your Business

As both a bankruptcy attorney and business lawyer, I see both the successes and failures of small businesses. Many new entrepreneurs cannot resist the urge to “make it big.” I had a client who started a limousine company. He had been a driver for many years and really did know the ins and outs of […]

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Biden Administration Expands Paycheck Protection Program to Reach Smaller Businesses

Starting on Wednesday, February 24, 2021, businesses with fewer than 20 employees are now granted a two-week period to apply for loans under the Paycheck Protection Program. This is great news for many smaller, minority-owned businesses who were unable to access loans from this program in the past. In this two-week period, businesses with more […]

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Business Lingo for Small Business Owners

Every small or large business owner should be familiar with the following terms.  Why? Because at least twice a year (or even monthly) you should review your company’s financial health, using these terms as your checklist: Accounts Payable is money your business owes to other businesses for outstanding invoices for goods and services. Accounts Receivable […]

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How Do I Start an LLC in New York?

A limited liability company, commonly referred to as an LLC, is a corporate structure in which the members of the company may not be held personally liable for the company’s debts or liabilities. A limited liability company can be formed by filing Articles of Organization with the Department of State.  Some requirements of forming an LLC […]

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Developing Relationships with Suppliers and Vendors

Developing Relationships with Suppliers and Vendors: Most business owners know the art of developing relationships with their present and new customer base.  However, your connections with suppliers and vendors are also vital to your business’s success.  Without your suppliers, you will lack the raw materials needed to operate your business and provide your product or […]

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