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Recent Blog Posts
4 Steps to Finding the Right Business Attorney for You
Most business owners may hold off on hiring a business attorney until they have a legal problem arise. This is especially true for small business owners. When starting your business, it can be easy to get caught up in all of the decisions that need to be made. As your business grows, the busyness of your daily workday can keep you from taking the time to find an attorney, and before you know it, you have a legal problem arise with no one at your disposal to help you navigate the legal process. Whether you are in the early stages of starting a business or have yet to hire general counsel, there is no time like the present to get your business on solid footing by finding the right attorney for you.
1. Understand Why You Need an Attorney
Understanding why you need a business attorney, either now or in the future, is an important first step in selecting the right lawyer. Startups and small businesses may need a business attorney for a number of reasons including choosing a business entity, raising money through venture capital and selling equity to investors, drafting founder agreements, reviewing contracts, and handling employment issues. These issues can pop up at any time so it is important to have an attorney on hand before the problems arise.
Are Employment Contracts Necessary for Small Businesses?
Running a small business and running a large business are two separate beasts. Some may think that managing a small company is a much easier endeavor, and in some ways it is, but it is important that your business upholds a certain standard of professionalism regardless of its size. Small business owners often have a more personal relationship with their employees since they work in closer proximity to all of their hired employees. While this can create a more comfortable, personalized work environment, it can also blur the lines between professional relationships and friendships. In order to avoid this gray area, you should consider creating employment contracts to ensure that both you and your employees are maintaining your duties within your position.
I Am On the Brink of Foreclosure; How Can I Save My Home?
Coming to the realization that there is a possibility that you could lose your home is never a good feeling. Everyone goes through financial difficulties—especially homeowners—but the thought of losing the place that holds your family memories can be devastating. This year has been challenging for everyone, regardless of economic status, and many are finding themselves in the most serious financial state of their lives. Though the government has provided a certain amount of financial support, these stimulus checks will not continue on forever and your financial situation may still be in disarray when that day does come. If you are on the brink of foreclosure, there are actions that you can take to save your home.
Education Is Key
What Can I Do as a Florida Landlord Until the Moratorium Ends?
As we enter into the new year with a vaccine being distributed on a national level, many are wondering how much longer the pandemic-induced restrictions will be enforced. The impact of COVID-19 on the United States began to surface in March 2020—coming up on almost one year ago to the date. Renters and landlords have been hit especially hard as the financial constraints of this unprecedented year left both parties underpaid. Florida Governor Ron DeSantis recognized this financial crisis and enacted the state’s first delay in evictions, also known as a moratorium, in April 2020. Since then, this state moratorium has expired and transitioned into a national eviction moratorium set to expire at the end of January. Despite keeping a roof over Americans’ heads, both renters and landlords have criticized this tactic, and are wondering what will happen when the moratorium is finally lifted.
5 New Year’s Resolutions Every Small Business Owner Should Make
Owning a business is no easy undertaking. Regardless of the size of your company, work tasks can seem overwhelming. In addition to your average workday, you are likely considering new ideas and areas of improvement during your off time, especially as the new year rings in. This past year may have been exceedingly difficult on your business as was the case with many small businesses across the country. With the COVID-19 vaccine becoming available to Americans, the economy and society are finally making their way back to normal. You should consider the following New Year’s resolutions to get your Florida business back on track and start 2021 with your best foot forward.
Do a Deep Clean
Throughout the year, paperwork can quickly pile up and you may feel as though you are stuck in the weeds. You should take time at the beginning of each year to refresh your databases and filing system. This will keep things organized, make important documents easier to find, and improve your business’ efficiency.
Does My Recent Move Impact My Ability to File for Bankruptcy?
This past year has been filled with ups and downs, leaving many Americans in financial disarray. Millions have lost their jobs, taken a pay cut, or have had to reduce their spending to survive the ongoing pandemic. Although it may not have seemed like the best time to relocate, many have left large cities or moved to another state to reduce their cost of living and gain the necessary distance from others to avoid contracting COVID-19. If you have relocated to Florida and are still struggling financially, you may be at the point where filing for bankruptcy is one of your only options. Newfound Floridians are still able to file for bankruptcy after relocating, but they should be aware of the implications that their move can have on the legal process.
Beginning the Bankruptcy Process
Depending on how new you are to the state, you may need to wait before filing. Bankruptcy law is federal law, meaning that a federal court will need to hear and review your case. Generally speaking, you are required to have lived in the state where you are filing—in this case, Florida—for at least 91 days. The court will verify your claimed state of residency in your official bankruptcy paperwork, typically through an apartment lease agreement or utility bill, before moving forward with the process. It is a good idea to hold off on filing until you meet this 91-day requirement; otherwise, you may be able to file in your previous state, although this would require significant travel between Florida and your previous home state.
New COVID-19 Relief Package Set to Help Individuals and Businesses
The past 10 months have undoubtedly been some of the most challenging in American history. The COVID-19 pandemic began to sweep the nation in early March and has continued to rage ever since. Shutting down society for public safety has led to numerous repercussions, including leaving businesses struggling to stay afloat as well as renters and homeowners scrambling to make their monthly payments. While aid was initially provided by the U.S. government, many Americans have been left to fend for themselves now and have considered filing for bankruptcy since the last previous stimulus check was provided. Months of stalemate and negotiations by Congress has finally led to a new relief package to welcome the country into the new year.
Obtaining Financial Assistance
In the last week of 2020, Congress has struck a deal on approximately $900 billion in COVID-19 relief, with the goal being to assist families and businesses struggling from the pandemic. Senate Majority Leader Mitch McConnell announced that the four leaders of the House and Senate finalized an agreement late on December 20. Many Americans will receive direct payments from the government, including stimulus checks of up to $600 per person for those earning $75,000 or less per year in addition to $600 for each child dependent. This is reflective of the country’s initial stimulus package months prior.
What Are the Benefits of Buying a Home Rather than Renting in Florida?
The thought of buying a home may seem like an endeavor that is far in the future. Maybe you are waiting until you have a family, or perhaps you do not think that you are financially stable enough to make such a large purchase. While both of these are valid reasons to hold off on purchasing a home, many are unaware of the benefits that buying a home, rather than renting, has to offer. Aside from having a place to call your own, purchasing a house also provides several tax benefits and the ability to grow equity.
The Continuous Increase in Rent
Rent prices have increased at a fast rate throughout the United States, regardless of the state in which you reside. According to research from the Urban Institute, rent in many markets has grown exponentially compared to median incomes. In other words, your rent will continue to rise while your paycheck will likely remain stagnant. In many areas, monthly mortgage costs are comparable or even cheaper than monthly rent.
Considerations for the End of Your Business’ Fiscal Year
Depending on when you started your business and how you record your finances, your fiscal year may not be the same as others around you. With the end of the calendar year landing on December 31 and tax day occurring in mid-April, most businesses do their final yearly to-dos within this four-month time span. The month of December is undoubtedly one of the busiest of the year, and many businesses will opt to complete their year-end tasks before the start of the new calendar year. Whether you decide to finish up these business chores before the holidays begin or a bit later in the year, it is important to complete the following before the end of your business’ fiscal year.
1. Financial Bookkeeping
Every business owner is different and so are their tactics for recording their finances. Some may have every i dotted and t crossed, while others may have a giant box filled with receipts. It is critical that you get your financial information properly recorded before tax season begins; otherwise, you may be spending days locating and entering this information into a proper log. It may be a good idea to get your books in order before the start of the holiday season, that way you can start 2021 more organized and have your records together before filing your taxes a few months down the road.
If I File for Bankruptcy, Do I Still Need to Pay Off All of My Debts?
Those who are unfamiliar with the details of bankruptcy, which typically includes anyone who has not filed for bankruptcy, may incorrectly believe that all of your debts disappear upon filing. While bankruptcy is meant to help rid you of significant debt, the process will still require you to pay off most of your debts. The details of this financial breakdown vary depending on the type of bankruptcy that you file as well as the depth of your debts. Many filers do, however, get some form of a break, known as a discharge. Before moving forward with the bankruptcy filing process, it is important to understand what exactly you are responsible for and which of your debts will be forgiven without full repayment.
What Is a Bankruptcy Discharge?
A bankruptcy discharge is a legal term for debt forgiveness. In other words, a discharge releases a debtor from personal liability for a number of specified debts, not requiring him or her to pay back the discharged debts. A discharge is a permanent legal order that restricts the debtor’s creditors from taking action to obtain money for the outstanding debts. A bankruptcy discharge does not, however, cancel out any liens that a creditor may have against a property, meaning that a creditor is still able to enforce a lien and recover the associated property.
