How to Sell Your Business

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  So, you’ve examined your company’s historical financial statements, thought carefully about your prospects for future growth, and perhaps had your accountant recast your statements to reflect how new ownership would affect your company’s earnings and cash flow. You’ve also considered the market value of any real estate, equipment, inventory, and other hard assets that […]

When Must Employers Pay Overtime?

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  Federal and state laws require most employers to pay overtime. The overtime premium is 50% of the employee’s usual hourly wage. This means an employee who works overtime must be paid “time and a half”—the employee’s usual hourly wage plus the 50% overtime premium—for every overtime hour worked. These laws contain many exceptions, so […]

Contract Law Basics

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  In the current difficult economic climate, contract disputes are on the rise, whether related to service contracts, the sale of goods, agreements for the purchase of homes or businesses, residential and commercial leases, employment agreements, partnership agreements and other business venture agreements.  Thus, it is more important than ever for the parties to a […]

Change Your Life With One Calculation

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  If there were an eighth wonder of the world, we’d nominate the equation compound interest : Your money x (I + i)^n. (If you’re not a math geek, don’t worry; were going to decipher that for you.) Albert Einstein (or maybe it was Yogi Berra) called this deceptively simple formula the “greatest mathematical discovery […]

Strange tax evasion schemes

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  From claiming that tax forms contain “the mark of the beast” to arguing that the IRS isn’t a government agency, some people will go to great lengths to avoid paying taxes.   1. Tax forms contain the ‘mark of the beast’ Some people are so desperate to avoid paying taxes that they’ll even claim […]

Records Retention Guidelines

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  Business documents make up an important history of your business transactions with customers, vendors, creditors and employees.  These records should be maintained and available to resolve questions that may arise in the future.  Your business records should be easily accessible to authorized personnel in your business.  Your business records should be maintained in accordance […]