Category Archives: Business Formation & Planning

There are several factors to consider in business formation, and a business formation lawyer can help answer any questions you may have about starting your business.

Important Considerations When Drafting an Employee Contract

While owning a business, contracts are a very important part of ensuring that your business runs smoothly. In order to avoid complicated lawsuits and other legal troubles, drafting an employee contract is crucial when you find someone perfect to work for you. Before making a new employee contract, you should consider a few things to include. Why Should I Draft an Employee Contract? First, it’s important to understand the many advantages of writing an employment contract, and it can benefit both the employer and employee. Employee contracts will help keep the employee at the company. Most contracts will specify a minimum length of time the employee has to commit to working, which can also give the employer enough time to find an appropriate replacement. Contracts also help to protect the confidential information of a new employee. They can also set performance standards and provide security for the employee. What Should…
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How Can I Avoid Business Communication Problems?

Communication problems between your employees are typically a symptom of other major issues at your company. Your workers should feel as if they are on the same team and fighting towards the same goals. Problems communicating, rampant infighting and unhealthy competition can derail operations. In the worst-case scenario, it can ruin the reputation of your business and lead to rapid turnover. There are multiple ways you may avoid common communication problems. Set clear expectations and goals. Your employees should have a clear understanding of what your business is trying to accomplish. All employees should also understand how you intend to accomplish these goals. Put your goals and expectations in writing. Clearly define job duties and responsibilities. Avoid leaving employees in the dark. You should share critical information with employees. When you keep secrets and fail to share information, it leads to fear and distrust. Employees who do not receive critical…
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3 Tips for Starting a Small Business

Starting a small business can be extremely fulfilling, but it is also a huge challenge, especially for first-time business owners. When you start a small business, you will have questions from day one, such as: Do you need to keep your day job? How will you support yourself and your family until your business takes off? Will your business plan translate to the real world? What are the state and municipal laws regarding your type of business? Here is a little advice to help small business owners start out on the right foot. Tips to Successfully Start a Small Business Forbes recently featured an article with advice for how to successfully start a small business. The top three tips from the article were: Fix a Problem – One of the best ways to build a customer base is to provide a service that solves a problem that your target market…
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How to Set Up an LLC in New Jersey

Setting up a business in the United States is relatively easy by international standards: a Business Insider poll ranked the US number 11 in ease of starting a business amongst developed nations. Although this is relatively high on the list, there are still many permits and bureaucratic loopholes you need to jump through to start a business in this country. Below is a list of several of the things you will need to start a business in New Jersey. 8 Steps to Set Up an LLC in New Jersey Name: If you are starting an LLC, you need to include LLC or L.L.C. in your name. Some words require additional paperwork such as: bank, doctor, or engineer. Words that will confuse your business with a federal agency are restricted. You can do a name search online to see if your name and URL hasn’t already been taken. Registered Agent: You…
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Small Business Tax Guide: Don’t Make These Common Filing Mistakes

Many small business owners are filing taxes for their enterprise for the first time this year. There is a lot to know, and a number of different factors that will make your small business tax situation unique. Knowing how to file your taxes properly can save your company money and keep you safe from making illegal tax mistakes. Keep reading below for a list of some of the most common mistakes you should try to avoid. Mistakes That Set Off Alarm Bells at the IRS Hiding your income: If your business is cash-heavy, it could be tempting to not report a large percentage of your earnings. The IRS knows when companies are likely to have a large percentage of cash purchases and can find out if you are underreporting. Writing off startup expenses as deductions: Starting a new business will cause you to spend lots of money traveling to meet…
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