On January 1, 2013, various changes go into effect for limited liability companies formed in Nebraska. Depending upon when you formed your limited liability company, this new law may significantly impact the legal relationships and risks of your company. While the new law includes numerous changes, the following is a list of certain key changes that you should be aware of:
1. Fiduciary Duties....Read More
Trademarks (including service marks) are words, phrases, symbols, or designs that identify and distinguish goods and services. An effective trademark can be a powerful tool for a business owner. It enables the business owner to protect her business’s valuable intellectual property from competitors. It can also be a source of added value for the business in the event of expansion or sale....Read More
BY MARK A. WILLIAMS
This is the second in a series of articles addressing issues confronted by entrepreneurs starting a new business. This article will focus on what steps to take once you know what type of business you want to start.
You know your business, but now you are confronted with many decisions that will determine whether your business is a success or failure. The following are just...Read More
BY MARK A. WILLIAMS
This is the first in a series of articles addressing strategies for entrepreneurs starting a new business. This article will focus on a type of “pre-made business” known as a franchise. when you purchase a franchise, you buy a mentor, a business system and a business partner. The franchisor provides you with a pre-built business. If you are looking for creative...Read More
BY MARY E VANDENACK
The long standing recommendation for feasibility of forming a private foundation is that a donor be ready and willing to donate three to five million dollars to the foundation. Early in my career, I accepted that recommendation. The basis for the suggestion related to the complications of a private foundation as compared to alternate forms of making donations such as an...Read More
BY MARY E. VANDENACK
Another year end, another tax act. I am providing a summary of a few of the provisions of the Small Business Jobs Act of 2010.
Cell phone deductions. The legislation removes cell phones and similar telecommunication equipment (including PDA’s and Blackberry devises) from the “listed property” (items obtained for business but which lend themselves readily...Read More
On October 29, 2009, Judge Walton of the United States District Court for the District of Columbia ruled for the American Bar Association (“ABA”) and prevented the controversial Red Flag Rules from being enforced with respect to attorneys.
The ABA brought suit against the Federal Trade Commission (“FTC”) on August 27, 2009. On September 23, the ABA filed a motion for...Read More
Asset of the Owner v. Asset of the Company
When determining the proper tax treatment of proceeds from the sale of a service company, it must be determined what amount, if any, may be allocated as payments attributable to personal goodwill. A key case in this determination is a Washington federal district court case titled Howard v. Commissioner.
In 1980, Larry E. Howard, D.D.S. incorporated...Read More