Category: Business Planning

The coronavirus pandemic of 2020 has taught us to embrace our lives even when things seem out of our control. Many people have been laid off and are wondering what will come next for their careers. Many of us have had more time to consider our lives, including our career goals. If you have been

Starting a new business with a partner is exciting, but partnership disputes are bound to happen. Hopefully, you have spent time considering whether your partner is trustworthy and has a keen business sense. Most people who go into business together get along and feel excited about their new company’s future success. However, starting a business

Writing a business partnership agreement will help you and your partner carefully detail the terms of your business relationship. Whether you are part of a limited partnership or a limited liability partnership, it is important to take the time to write your partnership agreement carefully. Forming a business is exciting, and it can be challenging

BUSINESS ENTITIES – COMPARISON CHART Difference between S Corp and C Corp and LLC Copyright © Fox and Moghul 2020 Entity Limited Liability Company (LLC) S Corporation C Corporation Partnership Description An LLC can only be formed by making appropriate filing with the state (see below). Owners are called members and the LLC may be

What You Should Know Before Forming an LLC in Virignia?

When it comes time to divest an LLC’s real property there are certain procedures that must be follow. We will presume that title was transfer from a member of the LLC, from one who held title in his individual name, and conveyed through a deed of gift. If income was produced from the property during

By Faisal Moghul of Fox & Moghul posted in Business Formation And Planning on Tuesday, September 18, 2018. One of the primary areas of our practice deals with partnership disputes between and among business partners of across a variety of industries, including co-owners of real estate brokerages, title companies, restaurants, hair salons, technology startups, and retail companies. Here are some

By Faisal Moghul of Fox & Moghul posted in Business Formation And Planning on Friday, September 14, 2018. Have you ever used a boilerplate LLC Operating Agreement for your business? Have you ever wondered about some of the drastic legal consequences that the boilerplate language in such operating agreements can have for your business? Consider the following hypothetical, which pertains

We are often asked by business owners if their business partner can “lock them out” of the business, which usually means restricting their access to the businesses bank accounts. Under these circumstances, the injured owner who has been frozen out of the business has certain options that he can follow. First, take a careful look

Our firm is often asked if one co-owner of a business, say a member in an LLC, can fire his co-member for allegedly stealing money or something else of value from the business. Can you as one co-owner fire the other co-owner allegedly for stealing money from the business? The answer depends on several factors