Learn How to Protect Your Business from Lawsuits

Learn How to Protect Your Business from Lawsuits

As the owner of a small business, you cannot control everything. Most owners should anticipate at least one lawsuit over the life of their business. However, with careful planning, you might be able to beat the odds by taking steps to minimize risks. At the very least, a lawsuit mitigation plan can help your business avoid a legal threat. For help with your lawsuit risk mitigation strategy, please contact us.

Hiring Seasonal Employees What You Need to Know

Hiring Seasonal Employees What You Need to Know

A lot has changed since last summer, but the same federal and state laws still apply to employers that hire seasonal employees. If your business is considering bringing on summer help to handle an increased workload, you may need a refresher on navigating benefits, taxes, overtime, pay, and employment of teenage workers.

What Employers Should Know about Giving Gifts to Employees

What Employers Should Know about Giving Gifts to Employees

In today’s competitive job market, giving gifts and other fringe benefits to employees can be an effective way for employers to show appreciation. But generous employers should understand that most gifts and bonuses—even small ones—have tax implications.

What You Need to Know Before Starting a Franchise

What You Need to Know Before Starting a Franchise

Learn about franchising a business. Investing in a franchise can be a great business opportunity. But before you sign a franchise agreement and invest any money, you should closely review all documents with help from a qualified business lawyer.

Considerations for Married Business Owners

Considerations for Married Business Owners

Owning a business can impact every area of a person’s life. The impact is uniquely felt within a marriage. Married business owners must consider the ways in which their marriage may impact their business and vice versa.

Meeting Minutes

Meeting Minutes

Meeting Minutes: What They Are and Why Every Business Needs Them Jesse Bifulco, Attorney, Camden Maine When starting a business, many entrepreneurs jump immediately into day-to-day operations. They often struggle to make time to develop systems for documenting how...
What Are Corporate Bylaws?

What Are Corporate Bylaws?

Corporate bylaws are one of the most critical documents to have in place. Bylaws lay the corporation’s foundations and include important information that your directors will use to run and govern your business.

Stay Bonus Agreements

Stay Bonus Agreements

Stay Bonus Agreements: What They Are and How to Use Them Jesse Bifulco, Attorney, Camden Maine A stay bonus agreement, also referred to as a retention bonus agreement, is a written agreement between a company and a key employee to induce the employee to stay with the...

Five Reasons Business Owners Need Estate Plans

Five Reasons Business Owners Need Estate Plans Jesse Bifulco, Attorney, Camden Maine Business owners are notorious for engrossing themselves in the day-to-day management and functions of their businesses. As a business owner, you are likely the heart and soul of the...

Remote Employee’s Time

Employers may be required to pay nonexempt employees for work completed at home, even if the work was completed without the employers’ knowledge. Here’s why you should track remote employee’s time.

Trademark Infringement

Most elements of business branding—name, logo, design—are readily available online, making it easier for people to knowingly or unknowingly use the intellectual property of others. As a business owner, you must prioritize both protecting your own trademarks and avoiding infringement of others’ marks.

Obtaining Loan Forgiveness through the Payment Protection Program

Obtaining Loan Forgiveness through the Payment Protection Program

Obtaining Loan Forgiveness through the Payment Protection Program Jesse Bifulco, Attorney, Camden Maine One of the major provisions of the CARES Act is the Payment Protection Program (PPP), a loan program created to incentivize the retention of employees in small...

Re-opening after Covid-19

How to Reopen Your Business After COVID-19 Jesse Bifulco, Attorney, Camden Maine Despite the uncertainty that has accompanied the COVID-19 pandemic and that still lies ahead, one thing remains certain: Most businesses will eventually reopen. On April 16, 2020,...

What Is an S Corporation and Should I Form One?

Contrary to popular belief, the S corporation is not a distinct entity type. According to the Internal Revenue Service (IRS), an S corporation is a corporation that has elected treatment as a pass-through entity for federal income tax purposes under Subchapter S of the Internal Revenue Code.

Understanding How LLC Members Pay Taxes

Limited liability companies (LLCs) are one of the most popular types of business entities. The LLC’s flexible taxation options are one reason it is preferred; LLC members can, for the most part, choose how they would like to be taxed. The LLC enjoys this flexibility because the Internal Revenue Service (IRS) does not recognize it as a distinct entity for federal tax purposes

Filing Business Taxes in Maine

For most entrepreneurs, handling business taxes is a daunting but necessary task. The complexities of tax preparation often lead business owners to procrastinate or neglect proper record keeping and tax deadlines.

What your business needs to know about sales tax in Maine

Figuring out a business’s responsibility for collecting and remitting sales tax can be quite confusing for many business owners, especially those who are just starting a new business. If you make a mistake or fail to remit sales tax on time, your business could be subject to large fines or even lose the right to do business in a state.

6 Key Considerations for Passing Down a Maine Family Business

You have invested a lot in making your business a success, and it is hard to think about relinquishing ownership or control of it. Nevertheless, planning is critical in creating a lasting legacy for your family. We can help you put a plan in place that helps you successfully pass your business on to the next generation and ensures that you have a financially secure retirement

Can Your Maine Small Business Write Off Bad Debts?

If your small Maine business has suffered losses because of bad debts, and you are wondering if you may be entitled to write them off, we can help you navigate the applicable tax rules to minimize your tax liability, as well as provide guidance about steps you can take to avoid losses from bad debts.

How Do I Change My Business Structure In Maine?

As your small business expands and evolves, it may make sense to consider changing its structure. Many small businesses start out as sole proprietorships or partnerships, with only one or two owners and no employees. Over time, as your business grows and changes.

What is the Difference Between a Maine LLC and a Maine LLP ?

The factors discussed in this blog post are only a few of the important considerations relevant to choosing the right structure for your business. The decision about which type of business entity to form is a complex one that will depend on your particular circumstances and the goals you seek to achieve.