At some point, the owners of family businesses in Delaware confront the fact that they need to retire. If you are pondering how to transition your family business to new leadership, then you have many variables to consider. You may be focused on the financial nuts and...
What’s the right type of business entity for your company?
If you want to open a new business in Delaware, you have a few ways to achieve this goal. Before you can get started, you'll need to determine what type of business entity to choose. While this decision might seem complicated, learning more about the multiple types of...
Corporate structure and fiduciary duty
Entrepreneurs often don't have a business or legal background. What they have is an idea. One thing, done well can be the foundation for a business empire. As businesses scale up, they become more complex. What started out as a sole proprietorship or partnership can...
What Small Business Owners Should Know About the COVID-19 Stimulus Package
As small business owners grapple with the economic realities of nationwide stay-home orders and social distancing mandates, legislatures have been updating laws and developing new programs to keep the economy afloat. The latest and most groundbreaking is the...
Who Will Run Your Business if You Cannot?
A limited power of attorney to your office manager or bookkeeper will allow that person to act in your place in the event that you cannot. If you are fortunate enough to be considered “and essential business” this document is as important as a working telephone to...
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...
What Are the Benefits and Risks of Forming an LLC?
What Are the Benefits and Risks of Forming an LLC? If you have decided to start a business and are researching the available business entity types, you may repeatedly come across the terms “limited liability company” and “LLC,” but you might not understand what this...
