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Every business (small or large) should have a business succession plan supported by a properly drafted "buy-sell" agreement which acts like a "will" for your business.  A good business succession plan will utilize estate planning and business planning strategies such as trusts, business buy-sell agreements and other legal documents to increase…

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In the last year, 61% of new claims filed in the courts in New Hampshire were filed by “pro se” or self represented parties. So why hire an attorney? The most obvious reason is that attorneys know the law. That may sound cliché but often cases are won or lost…

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The form that owners select for a particular business will depend on the particular relationship among the owners, the business objectives and the particular circumstances of the owners at the time of organization. There are several alternative forms of business organizations: sole proprietorship, general partnership, limited partnership, limited liability company,…

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Calculating numbers for income tax return with pen and calculator

The S Corporation structure has become increasingly popular in recent years due to the advantages it provides to shareholders. Namely, a business can qualify for "pass-through" tax treatment by electing Subchapter S status. Pass-through taxation allows the profits and losses of the S Corporation to flow directly to the shareholders,…

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With all the discussion of sinkholes in the news, I started thinking about a different kind of sinkhole: the financial sinkhole.  Perhaps you own a small company and have problems collecting on your receivables or you have made loans that you can’t get repaid.  If your customers don’t pay, it…

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