Limited liability companies (LLCs) are the simplest and most inexpensive business structure in the United States. The pros and cons of LLCs include being easy to form, protecting owners from personal liability, and offering flexible tax options. However, LLCs also make raising money difficult and can misalign owner tax burdens and their earnings from the…
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Free Independent Contractor Agreement Template & What to Avoid
An independent contractor agreement is a legal document between a business and an independent contractor, freelancer or subcontractor. It’s an all-encompassing document that outlines the details of the work to be performed, terms of the agreement, deliverables, compensation and any additional clauses. In this article, we’ll provide you with a free independent contractor agreement template to…
Partnership Agreement Checklist
The below checklist is designed to be used in conjunction with “The Ultimate Guide to Business Partnership Agreements“. Print a PDF of this Checklist Decide if you need a lawyer or start with a template Business name(s) and purpose Learn More Partner areas of responsibilities Learn More How much time each partner will commit Learn…
Self Employment Tax Rates 2017 & How to Lower Your Tax Bill
As a self employed person, you have to pay both the employer and employee portion of your Social Security and Medicare taxes, known as “self employment taxes.” If you make $400 or more in self employment income, you will pay between 15.3%-16.2% in self employment tax on up to 92.35% of your income. You can…
Free Employment Contract Templates and When To Use Them
An employment contract is a written agreement documenting the shared rights and responsibilities between your company and a W-2 or 1099 contract employee. It’s typically used when bringing in higher-level management employees, short-term contract employees, or freelancers. As a document signed by both parties, an employment contract is enforceable in a court of law. In…
Trademark Costs: DIY Registration vs. Online Service vs. Lawyer
Registering a U.S. federal trademark will likely cost between $225 and $2,000. The trademark cost if you file yourself will cost at a minimum of $225. The trademark cost using an online service will cost around $500. The trademark cost using a trademark attorney will likely cost around $1,500 to $2,000. If you want to…
Rest Break & Lunch Break Laws – What Employers Need to Know
It may come as a surprise to know that the US Department of Labor (DOL) does not require employers to offer rest breaks or lunch breaks to employees. However, if offered, the employer must clarify the duration and frequency of break time. In addition, rest breaks are considered paid time, whereas lunch breaks are not….
Employee Handbook: Free Template & Essentials to Include
An employee handbook or manual serves as an introduction to the business, and a reference for any questions your employees may have. In addition to informing employees of their workplace duties, the employee handbook provides information on key policies, such as benefits, dress code, and work schedules. In this article, we’ll provide you with a…
LegalZoom vs Rocket Lawyer – Review of The Best Online Legal Services 2018
LegalZoom and Rocket Lawyer both provide business formation, legal documents, and subscription-based access to legal advice. If you need any of these services both can be a good alternative to a traditional lawyer. If you are using a lot of legal forms we recommend going with LegalZoom as they are less expensive and higher quality….
Zoning Laws for Small Business: What You Need to Know
Zoning laws, also known as zoning ordinances, define 1) what types of land use is allowed for a given area and 2) building regulations such as maximum building size or the need for fire escapes. If you’re starting a business, you need to be familiar with the zoning laws that cover your building and area….
How to Create a Business Partnership Agreement: Free Templates Plus Sample
A business partnership agreement is a contract between business partners that defines how partners will manage the business together, what they must invest in the business, and how they will be paid. It also defines how changes, such as adding new partners or partners leaving, will be handled. According to Noam Wasserman, author of The…
LLC vs S Corp vs C Corp: Best Small Business Structure?
The most common business structures are sole proprietorship, partnership, limited liability company (LLC), and corporation. The structure you choose will impact your ability to raise money, your tax bill, and what happens if your business is sued. In this article, we’ll compare these different business structures and discuss what factors to consider when deciding how…
