The Benefits of S-Corps

business attorney setting up an S-Corp from her desk

Anyone starting a new business is faced with a lot of decisions. Arguably the most important is choosing the business entity type and tax status. Entrepreneurs have many options to choose from, including S-Corps, LLCs, C-Corps, and sole proprietorships. 

Each type of business has its benefits and limitations. An S-Corp is unique because it is technically a tax designation, which can be used by LLCs and Corporations. This blog will discuss the benefits of an S-Corp.

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Don’t Call It A Partnership!

partners agreeing to the terms of their operating agreement

When two people agree to form a business together, what would you guess they call it? Naturally, many people use the term “Partnership.” In some instances, Partnership is technically correct, like when two or more attorneys share an office and referrals, or two accountants do the same. However, today the term “Partnership” is misused by many, and it could have an impact on their business.

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Checklist for Hiring Your First NY Employee

Two businessmen speaking with a businesswoman and shaking hands with her as they offer her a job.

For many startups and businesses, hiring your first employees can be an anxious process. Hopefully, this checklist will help entrepreneurs get past the initial hurdles and feel more confident moving forward.

The Ultimate Checklist for Hiring Your First Employee in New York is in chronological order to the extent that some things need to be done before others, but the exact order doesn’t always matter. Do what you can as soon as you can to ensure you comply with federal and state requirements.

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Do I Need a Certificate of Authority to Do Business in NYC?

Certificate of Authority. A close up of startup employees reviewing figures and paperwork with a tablet and laptop.

New York State’s Department of Taxation and Finance issues Certificates of Authority to businesses which authorize them to collect sales tax from customers. This also allows them to honor the tax-exempt status of non-profit agencies with whom they do business. You might be wondering when and if you need a Certificate of Authority for your startup or business to do business in New York City; especially if you are a foreign (whether U.S. or international) entity.

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Everything You Need to Know About The California AB5 Law

Toyota Prius offering rides for UBER and LYFT in San Francisco Bay Area. These companies will be affected by the AB5 law.

California Assembly Bill 5 (AB5), signed into law by the state’s governor in September of 2019, went into effect on January 1, 2020.  Informally referred to as the “Gig Worker” bill, AB5 means some big changes for contractors and companies who use them. This blog will offer a broad overview of AB5, its current status, potential complications you might face, and some examples of ways California businesses and other businesses have responded to the new law.

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