Category Archives: Business
Small Business Tax Penalties
It is easy for a small business owner to fall into the trap of IRS penalties. The old adage that “ignorance is no excuse” is an unfortunate truism for owners of small enterprises, many of whom enter into a business … Continue reading
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Selling a Corporation Free of Tax
Internal Revenue Code section 368.13 allows a corporation that is being purchased by another to enjoy certain tax-free advantages. The rules are complex, so it is a good idea to work with a Boston tax-planning attorney before you proceed with … Continue reading
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Tax-Exempt Organizations
Various business entities may exist under the tax-exempt provisions of the Internal Revenue Code §501(c) (3). An individual may wish to create a business that provides addictions treatment or assistance and shelter to battered women, for instance. However, forming a … Continue reading
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Common Contract Provisions That Minimize the Likelihood of Disputes
WOBURN CONTRACTS ATTORNEY Written contracts typically contain standard or “boilerplate” provisions that are included to minimize disputes over certain foreseeable situations that could arise. Below are some of the more common ones. Your contracts attorney can explain these further and … Continue reading
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Deducting Business Start-Up Costs
Fledgling businesses often do not see a profit for several years, if ever. Individuals who are seeking to start a business should conduct a full investigation into the costs and potential for profit before moving forward. It is highly advisable … Continue reading
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Deducting Home-Based Business Expenses
One of the most notable changes that technology has brought to the workforce is the proliferation of home-based businesses. Whether you operate as a sole proprietorship or an LLC, the use of the home for business provides certain potential tax … Continue reading
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In-Business Offers in Compromise
Until recently, the Internal Revenue Service was reluctant to accept offers in compromise from businesses. This reluctance stems from the fact that a business seeking such a compromise is generally financially unhealthy; such an offer will generally only be accepted … Continue reading
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Self-Employment Taxes and Different Business Types
Individuals who work outside of a company are subject to a different form of taxation. This is true even if the person works for a company but also works as a sole entity in another business. Such tax matters can … Continue reading
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Effectively Managing External Stakeholders
The internal stakeholders of a business—employees, management, board members—are much more easy to govern than outsiders who are not subject to a corporation’s by-laws. External stakeholders can be very challenging to manage, but they do share a commonality with their … Continue reading
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Shareholder Rights and Disputes
Corporate shareholders possess unique rights not shared by partnership arrangements. If these rights are violated, legal provisions are in place to allow remedy. If you are a shareholder and have a concern over a violation of your rights, a Massachusetts … Continue reading
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