Any discussion of business succession planning has to start with the overall structure of the plan. First things first, you need to remember that this document is flexible and can be changed at any time. A business succession plan is not a document that is...
This is the first in a series of posts that will be discussing business succession planning. Something that small business owners should be considering is what happens in the unlikely scenario of a long-term disability or death of the business owner? Business succession planning is...
On a daily basis, any small business owner has to think about finances, legality, relationships, insurance, customers, vendors, suppliers. It is almost impossible for one person to be able to manage all of those aspects all of the time. But a business doesn’t have to...
Often when I’m advising small business owners I tell them that they need to assemble a Management Team. After telling me they can’t afford a management team, many of my clients ask: What does a management team look like? Who would be involved in that...
I want to take the opportunity to address a couple common misunderstandings between legal entities and tax designations. One common question that we get is if I should form an S corporation. The answer to that question, actually, is that you can’t. Let’s step back and look at this...
I recently had a client with an interesting problem related to timekeeping practices. If you employ non-exempt (hourly) staff, in order to calculate their pay you need to have the number of hours that they worked in a pay period. A lot of folks use the good old...
We are delighted to provide a unique services to small businesses who are just starting out. We charge a flat fee of $750 to get your new business up and running (does not include government registration fees). The start-up process can be a stressful one,...
When I conduct sexual harassment training for various clients, I tend to focus on two subjects that are management-related: culture and retaliation. Cultivating an Office Culture Culture is something that the business owners and managers get to control. They get to determine the kind of culture that...
The month of April brings the end of the Maryland General Assembly Session. This year brought a couple of labor issues that small business owners need to be aware of. The first is that Maryland has joined a growing number of jurisdictions who have passed a...