Tag Archives: Incorporation and LLC Formation

Veterans Moving Toward Franchises?

I read an interesting article from Entrepreneur Magazine entitled Back to Civilian Life, Veterans Try Franchises. The article discusses how a former fighter pilot purchased a franchise after retiring from the U.S. Air Force. A couple of months ago I spoke at the Iowa Veterans Career Retreat. Many of those in attendance were looking at … Continue Reading

Business Partnerships Always End

Mike Colwell of the BIZ recently wrote an excellent post on IowaBiz titled Partnerships a Guaranteed Divorce. Mike explains in his post that wise business people will always plan for the divorce. The end is inevitable, whether it’s due to death, retirement, disagreement or other reasons. Mike also linked to my recent seminar on Partnering … Continue Reading

Corporation, S Corporation or LLC? What to Choose for Your Business?

The Boulder Business Advisor has a general overview of the three main types of business structures and the factors that go into making a decision about which entity to choose for your startup business. It’s important to get tax advice when deciding what entity is best for you. Another critical question, as mentioned in the … Continue Reading

Business Succession Planning Seminar

Over the years I’ve noticed that very few businesses actually plan for selling or passing on their business to employees or family. It’s one of the most important things any business owner can do. I’ve teamed up with business coach Monte Wyatt to provide a free seminar to business owners on business succession planning. The … Continue Reading

Getting Your Business Funded in these Economic Times

In the past many new business owners funded their ventures through home equity lines of credit. But with the decrease in home values over the past few years, it’s been tougher for the start-up business owner to rely on home equity for funding. So what’s a new business owner to do? An article from the Wall … Continue Reading

S Corporations and Setting a Reasonable Salary

Joe Kristan of the Tax Update Blog has a very interesting post on So What is the Right S Corporation Salary? The blog post discusses a recent 8th Circuit case where a West Des Moines accountant had to pay FICA taxes on about $91,000 of his earnings from his professional S corporation –rather than $24,000– … Continue Reading

To LLC or Not LLC? That is the Question

I recently had a meeting with a startup company that has tremendous potential for growth. If the idea for the business is to take off, it’s likely they will need some capital injection along the way, especially if the owners want the growth they hope for in a short amount of time. One question we discussed … Continue Reading

Iowa Creativity Summit March 1st at Drake University

Lawyers are not immediately recognized as the most creative souls on the planet but some of the best lawyers I know definitely have the the creative spark. I have seen many who were classic doodlers, photographers and painters. Some of them were also the most creative in the courtroom and ultimately very successful in winning cases. That’s why I am … Continue Reading

Iowa LLC Law: Anonymity in Filing Good for Confidentiality

One of the nice benefits of filing an LLC in Iowa is that the owners are not required to disclose the members in filings with the Iowa Secretary of State. In many instances when filing a Certificate of Organization, I won’t list the member(s) to provide anonymity to the member(s) on the public search site. Instead, I’ll sign … Continue Reading

Should You Include Your Spouse When Forming an Iowa LLC?

I am often asked whether a business person should include their spouse when forming an Iowa small business LLC. Circumstances may vary but there are usually some benefits to filing an LLC as a single-member rather than having two or more members. First, single-member LLC owners are not required to file a separate tax return … Continue Reading

Where to Incorporate or Form an LLC for Your Iowa Small Business?

I’ve addressed the issue of where to incorporate or form an LLC for your Iowa small business a few times on the blog. In general, Iowa small businesses would do well to incorporate or form their LLCs right here in Iowa.  But I am asked often enough that I thought it might be helpful to prepare a … Continue Reading

Rush on Business You Tube Channel on the Air!

I am pleased to announce that I now have a Rush on Business You Tube Channel where I’ll post short videos on various aspects of business and franchise law. I have a few videos posted so far and I’ll add content weekly. New videos include: Should You Include Your Spouse When Forming a Small Business LLC? … Continue Reading

Business Formation: What Entity is Right For You?

Do you know the difference between sole proprietorships, partnerships, corporations and limited liability companies? Do you know whether to set up an S corporation or is a C corporation better for you? Are limited liability companies really all that and a bag of chips? Be sure to join me for an information-packed webinar through MyEntre.Net on … Continue Reading

Free Incorporation and LLC Formation for Iowa’s Military Veterans in 2012

Last night I attended the Greater Des Moines Partnership’s Annual Dinner. It was an interesting evening and I enjoyed listening to the guest speaker Christiane Amanpour discuss her experiences as a global journalist. She is obviously incredibly passionate about her work and encouraged everyone in the audience to "DO GOOD" with their work and to … Continue Reading

Business Growth Summit 2012 in Ankeny on January 31st

A new organization called Above the Line America is hosting a Business Growth Summit in Ankeny, Iowa on January 31, 2012 from 8:30 a.m. to 5:00 p.m. The Summit is located at the FFA Enrichment Center, 1055 SW Prairie Trail Parkway in Ankeny. The day should be a great one. Business owners and professionals will get an opportunity to … Continue Reading

Iowa Startup Fair to Showcase New Businesses

The first ever Iowa Startup Fair is taking place on Tuesday, January 31, 2012 from 3 to 6 pm. During the fair, new businesses will set up informational tables to showcase thier projects for an audience of business, investment, civic and other community members. In Des Moines, the Startup Fair locations will be at the … Continue Reading

Does Your Iowa Business Need an Angel?

Iowa entrepreneurs have an opportunity to connect with potential investors at the i2Iowa Investors and Innovators Forum on April 12, 2012 at Veterans Memorial Auditorium. Business owners and entrepreneurs can pitch their businesses to investors from four tracks which include: Life and Bio Sciences Information Technology Advanced Manufacturing General Business Companies can apply online through … Continue Reading

LLC Operating Agreements: Watch Out for Capital Calls

I was researching some issues for an LLC operating agreement and ran across an excellent post from the Wisconsin Business Law Blog on the fact that capital calls are often overlooked by LLC investors. Attorney Todd Goodwin provided the following example, [i]f a "capital call" provision exists and is exercised by the majority members or by … Continue Reading

A Post I Wish I Had Written: For All the Clients that Hate Lawyers

Over the last 5 years that I have been writing this blog, there haven’t been many Iowa business lawyers who write a blog on a regular basis. But when I was looking at Mike Colwell’s Startup Models site, I noticed a new blog from business lawyer Chris Sackett of Brown Winick called BizB4Law. Chris wrote a … Continue Reading

How to Incorporate Your Iowa Business

As I said in my previous post on LLCs, the limited liability company (LLC) has become the entity of choice for the majority of new business owners. In Iowa, there are approximately twice as many filings for LLCs each year than there are for corporations. But I still have a special place in my heart for the good ‘ole … Continue Reading

How to Form an LLC in Iowa

Over the last several years, the limited liability company (LLC) has become the entity of choice for the majority of new business owners. In Iowa, there are approximately twice as many filings for the LLC each year than there are for corporations. People tend to like the flexibility afforded by the LLC. With an LLC, you receive the limited liability protection … Continue Reading

Incorporating Your Business is Just First Step in Asset Protection

Many advertisements from document filing companies on the Internet tout the benefits of forming a corporation.  The first benefit typically mentioned is that a corporation provides"limited liability" or "asset protection".  Many of these companies would have you believe that if you form your own company for $99.00 you can magically protect your assets from creditors.  But … Continue Reading

Social Media Legal Policies & Training Workshops

One of the things I love the most is providing proactive educational workshops to companies and other organizations.  Due to the ever-growing interest in the topic, I am pleased to announce that I am now offering a new legal training workshop for businesses, large and small, regarding social media. A custom workshop will be designed for your business to cover the following topics: Overview of Social Media, … Continue Reading
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