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Recent Blog Posts
What Should I Consider When Selecting My Business Structure?
Starting a business is an exciting endeavor. You have likely spent years considering a business idea in your head and are finally in the process of getting things off the ground. Having a good business idea is only the first step in creating a successful company. While this may be the foundation of your work, there are other things that are required during these initial stages. One of the most important aspects of building a business is choosing the right legal structure, also known as a business entity. This single decision impacts how your business will be run moving forward. But how do you know the difference between your options and determine which is the right one for you?
Choosing a Business Entity
There are four types of business entities that one can choose from: sole proprietorship, partnership, corporation, and limited liability company (LLC). It is best to consult with a business attorney to fully understand the differences between these options, but be sure to keep the following considerations in mind when choosing one business entity over another.
Do I Need Title Insurance When Buying a Home in Florida?
Buying a home is likely the most expensive purchase that you will make in your lifetime. The moment you receive your keys may give you a surge of pride, but the path to get there can sometimes give you a headache. Without a professional guiding you through the process, it can quickly become overwhelming and you may feel as if you are paying for unnecessary additions, such as title insurance. This type of insurance incurs a one-time charge included in your closing costs and it protects the lender. But what about owner’s title insurance? Should you spend the extra money for the additional protection in Florida?
What Is Title Insurance?
Before your home closes, your mortgage lender will require a title search, which searches public records for any title defects related to your home. For instance, the title search may bring the following issues to light:
Eliminating the Confusion: What Can Bankruptcy Really Do for Me?
The thought of filing for bankruptcy typically only comes to mind when it is your only option. Rarely do people fully understand what filing for bankruptcy entails and what this financial decision can actually do for you. Filing for bankruptcy is much more common than you think, and contrary to popular belief, it does not leave you financially destitute. Before you make a decision regarding your financial situation, it is important to have a true understanding of what this legal process will do for you and be aware of the common misconceptions associated with bankruptcy.
The Types of Bankruptcy
You have two different options when filing for bankruptcy, known as Chapter 7 and Chapter 13, and depending on your financial situation, you will qualify for one or the other. Chapter 7 bankruptcy is also known as “liquidation bankruptcy” because some of the filer’s assets can be sold to repay their outstanding debts. Once this is complete, the remaining debts will be discharged. This form of bankruptcy is reserved for those who earn less than the median income for the state of Florida. Those above this financial level will file for Chapter 13 bankruptcy. In Chapter 13 bankruptcy, the filer will propose a repayment plan to pay off their debts within a three- to five-year period. It is always advisable to turn to a bankruptcy attorney before beginning the filing process to ensure that you do indeed qualify for that particular chapter.
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.
