Month: January 2015

At-Will Employment Doctrine

At-Will Employment Doctrine

In the world of employment, there are two positions of bargaining.  One is the employer and the other is the employee.  In general, the public views the two positions as unequal in nature given the power of the Company.  This is due to the historical position the courts have taken in employer/employee cases.   As the human resources officer of your Company it is important for you to fully understand the At-Will Employment Doctrine as this doctrine sets the relationship between the two parties.

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Contractor’s Profitability

Contractor's Profitability

It costs a lot more than you realize to build a home or perform residential repairs. This article looks at both the homeowner's and contractor's perspective of what one perceives and the other actually incurs.

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Long Term Debt – Financial Statement Presentation

Long-Term Debt

Long Term Debt is one of the multiple forms of capitalizing a business.  It includes bonds, secured notes and mortgage notes.  In the world of small business, the most common form of long term debt is secured notes, most likely with recourse.  As an owner of a business you need to understand how this information is presented in your financial statements.

Long Term Debt – Explanation and General Understanding

Long-Term Debt

In the arsenal of capitalizing a business operation, long term debt serves as one of the primary sources of capital.  If you are an owner of a small business, you need to understand the relationship this source has to the overall financial status of the company.  Too much debt and the owner is burden by the cash outlays to service.

Organizational Expenses – Types and Tax Implications

Organizational Expenses

Prior to initiating operations, every business spends money to develop the idea and create the legal entity.  These types of costs are referred to as ‘Organizational Expenses’.  There are several different types of organizational expenditures.  These include research and development, legal and start-up costs. 

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Partnership Agreements – Managing, General and Limited Partners

Partnerships

Every partnership consists of at least two or more partners.  In many partnerships, there are dozens of partners.  Each partner is classed into a particular group.  There are Limited Partners, General (sometimes referred to as Operating) Partners and of course somebody who is in charge – the Managing Partner.  Each of these classes of partners has some form of financial, fiduciary and appointed powers. 

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Errors and Omissions Insurance

Errors and Omissions Insurance

Oops!  We’ve all done it at some point in our lives.  We make a mistake while serving a client.  Mine cost me a little over $2,000 in penalties to the Internal Revenue Service for failure to file an extension on a partnership tax return.  Not a good day. 

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