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S-Corp vs C-Corp (Discover Which is Better For YOU)

S Corp vs C Corp

So you want to start a corporation?

There are around 9 million corporations of different types in the US. Not all of them are necessarily members of the Fortune 500.

You have a lot of reasons to open a corporation in the US, including:

  • Raise large amounts of money through shares and bonds.
  • Protect your personal assets through corporate liability.
  • Easily able to transfer ownership (or portions of ownership) to another person.

But if you want to start a US business you need to decide between the S-Corporation and the C-Corporation. I can help you make that decision.

This guide is going to show you the main points in the S-Corp vs. C-Corp discussion. Then you should contact me at sam@mollaeilaw.com to get help with making that decision.

I can assess your business and advise you on the right type of corporation for you.

But for now, here’s my S-Corp vs. C-Corp guide so you can make a more informed decision.

 

What is an S-Corp?

An S-Corp is a type of corporation that’s formed through a tax elective with the IRS.

A 10-Point Actionable LLC Checklist for Entrepreneurs

LLC Checklist

Most small businesses are overwhelmingly LLCs.

The LLC is the base for starting a US business. And it’s one of the simplest entities you can establish.

Here’s why I believe you should have an LLC:

  • Protect your personal assets from legal action.
  • Stop double taxation.
  • Enjoy a flexible business structure.

With just 27% of people thinking that economic conditions are good to excellent, I believe that now has never been a better time to get started.

That’s why I’m here to make this process easy.

Email today at sam@mollaeilaw.com and I’ll show you how to incorporate your LLC.

In the meantime, this is my LLC checklist to demonstrate what you need to consider:

 

Step #1 – Choose Your State

One advantage of starting an LLC is that you can establish it in any state.

But which state you should you establish your LLC in?

For the vast majority of people, the best state to incorporate your business in is the state you intend on operating in primarily.

Recruitment Agreement (How to Get Yours Drafted or Reviewed)

Recruitment Agreement

A Recruitment Agreement is an agreement between the Recruiter and the “Client” company to identify and present qualified candidates to work with the Client. In exchange, the Client pays the Recruiter a fee for the service.

When business owners are too busy to hire the qualified employees they need themselves, that’s where Recruiters come into play.

A Recruiter can be a huge help when everything goes perfectly and they find the perfect candidate for you.

However there are a lot of ways that a Recruiter can hurt your business if you aren’t careful.

A shady recruiter or client can cost you a lot of time and money.

One of the best ways to protect yourself is by having a solid Recruitment Agreement in place before starting the service.

As a contract lawyer, I’ve drafted and reviewed hundreds of contracts including Recruitment Agreements, and I can definitely help you get yours drafted or reviewed.

Email me at sam@mollaeilaw.com to get help with your Recruitment Agreement.

 

What Does a Recruitment Agreement Do?

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8 Pieces of Life-Saving Tax Advice (Very Important!)

It may be March, but that doesn’t mean you’re too late to implement some essential tax tips this year. Perhaps we procrastinators are in even more desperate need for quality tax advice.

Whether you’re delayed on filing or interested in improving your odds at a bigger return next year, we may be able to help. Read through our top 8 tips and be sure to pocket anything you didn’t already know—your bank account may thank you.

 

1. Maximize Retirement Contributions

One of the savvier tax tips is to make sure you’re contributing as much as possible to your retirement account—this amount can be claimed on your tax return. You risk leaving money on the table otherwise.

Even if your employer or corporation doesn’t offer an incentive matching program, that money is tax-deferred and grows tax free.

 

2. Adjust Your Withholding

As you think about work and your retirement account, consider adjusting your withholding amount on your Form W-4.

If you need a larger return, having more money withheld from your paycheck each month might be a small change you hardly notice,

Independent Contractor Agreement: A Step-by-Step Guide

Independent Contractor Agreement

Independent Contractors can seem like a business owner’s dream come true!

They offer all the services of an employee, with none of the taxes or benefits require.

However it is possible for an Independent Contractor to turn into a business owner’s worst nightmare.

Independent Contractors perform important jobs, and can damage a company irreparably if they deliver shoddy work or give away trade secrets.

How do you protect yourself from a dishonest or unqualified Independent Contractor?

By getting an Independent Contractor Agreement drafted by a contract lawyer, you protect your business while having your business’s best interests in mind.

As a contract lawyer, I’ve successfully drafted hundreds of contracts for my clients, and I can definitely help you with yours.

If you’re looking to get your Independent Contractor Agreement reviewed or drafted, email me at sam@mollaeilaw.com

 

What is Independent Contractor Agreement?

An Independent Contractor Agreement outlines the duties, rights, and responsibilities of both a company and an Independent Contractor for any particular job.

An Independent Contractor Agreement is different than an employee agreement because the duties of an Independent Contractor and an employee are very different.

How to Incorporate a Business: A Step-by-Step Guide

How to Incorporate a Business

Incorporating a business in the US gives you access to an incredible array of business opportunities. Corporate profits across the country increased by 5.7% in the third quarter of 2017.

And, contrary to what many people think, you don’t need to be a US citizen to incorporate a business in the US. In fact, foreigners can incorporate with ease.

So, what can incorporation do for you?

  • Give you access to the world’s biggest economy.
  • Provide you with the credibility of owning a US-based business.
  • Allow you to take advantage of a friendly low tax system.

For the newcomer, understanding the system of doing business in the US can be tough. That’s why I’m here to guide you through the process.

By getting in touch with me at sam@mollaeilaw.com you’ll find out how to incorporate a business and how to do it in a way that maximizes your benefits.

With that in mind, here’s your guide to forming a company in the US.

 

Step #1 –Decide on the Correct Business Type

The right business type depends on whether you’re a US citizen.

3 Actionable Steps to Trademarking Your Marijuana Brand in 2020

How to Trademark Marijuana Brand

Are you looking to protect your marijuana brand?

Are you looking to register a cannabis trademark in California?

As of January 1, 2018, marijuana brands CAN register their trademarks with the USPTO in California.

That’s huge news!

Being able to register your marijuana trademark will let you defend your brand and assert trademark rights under California trademark law.

This means that your legal recreational marijuana business can hit the ground running with marketing and branding without worrying about legal repercussions.

It’s important to file your trademark registration for weed as soon as possible.

Why?

When disputes come up and copycats try and make similar trademarks, the date of filing is the key factor in defending your brand.

On this page, I will tell you everything you need to know about registering your trademark for marijuana, weed, cannabis, in a few easy steps.

If you’re looking to trademark your marijuana brand, book your free call with a Trademark Strategy Advisor here.

 

Is Marijuana Legal In Your State?

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How to Get Cleaning Contracts: A Step-by-Step Guide

Cleaning Contract
How to get cleaning contracts.

Not having a cleaning contract in place is a pretty risky move for a cleaning business.

What if property gets damaged or someone gets injured and your client sues?

What if you get fired without notice?

What if your client refuses to pay you?

Without a cleaning contract in place, you will not be protected from situations like these.

On this page I discuss what should be included in a cleaning contract and the different types of cleaning contracts.

If you need a cleaning contract drafted or reviewed, email me at sam@mollaeilaw.com

 

How Do I Start My Own Cleaning Business?

In order to start your own cleaning business you need to decide on what kind of cleaning you’ll do, network, advertise, and finalize the contract.

The first thing you should do as a professional cleaner is decide your niche. Knowing what kind of cleaning you’ll specialize in will help you figure out the rest of your business model including what services you’ll offer and who you’ll pitch for contracts.

How to Incorporate in Delaware (Practical Steps)

Why should you incorporate in you Delaware?

I get this question all the time…

The truth is that if you’re a US-resident, you should incorporate in your home state.

However, if you’re a non-US resident, then you should incorporate in Delaware.

Delaware is the most business-friendly state in United States.

On this page, I’ll explain why you should incorporate in Delaware…

If you’re looking to incorporate your business in Delaware, email me at sam@mollaeilaw.com

 

Why Incorporate in Delaware?

You should incorporate in Delaware because Delaware is the most business-friendly state for non-US residents. In fact, Delaware is the most popular state for LLCs in the US.

The top 5 reasons to incorporate in Delaware:

  1. Business friendly laws
  2. Privacy
  3. Cheaper filing fees
  4. No income taxes
  5. Investor appeal

We will take each one of these points in turn, so you can get an idea of why they are so important.

We’ll go more in-depth when it comes to the reasons later,

Law Firm Partnership Agreement: A Step-by-Step Guide

If you’re thinking of creating a partnership for your law firm, you’re on the right page…

A Law Firm Partnership Agreement is a partnership agreement that defines your roles and responsibilites when you’re entering a partnership to start a law firm.

Running a law firm with other like-minded partners sounds like bliss…

The problem is that during times of crisis your law firm partnership agreement will become the contract that will protect you during those times.

Disputes with law firm partnership agreements can lead to disagreements, conflict, and chaos.

If you’re looking to get your Law Firm Partnership Agreement drafted or reviewed, send me an email at sam@mollaeilaw.com

On this page, I talk about what should be included in your Law Firm Partnership Agreement and why you should hire a independent contract lawyer, like me, to draft your law firm partnership agreement for you.

So, let’s get started…

If you prefer for an experienced contract lawyer to draft or review your Law Firm Partnership Agreement, email me at sam@mollaeilaw.com

 

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