NSF Checks: How to Respond When a Customer Issues an Non-sufficient Funds Check

NSF Checks: How to Respond When a Customer Issues an Non-sufficient Funds Check By James R. VannAttorney at Law   Customer Issues a NSF Check that Does Not Clear Even with all the payment options available today, paper checks are still a popular form of payment especially in the business world.  So, what options are available to you to help …

The Benefits of Forming as an LLC

Deciding which business entity your new company should be is a daunting task.  You will need to consider the tax implications, the state liability issues, and what ongoing responsibilities will have to be performed in order to keep the company in good standing.  Fortunately, for most the choice ends up being relatively simple: form as a limited liability company or …

Business Bank Accounts: How Safe is Your Money? Raleigh Law Firm

A growing number of businesses are using online banking and mobile banking is gaining in popularity.  However, most business owners are not aware that, unlike consumer accounts, business bank accounts are afforded little to no legislatively mandated fraud liability protection.  Although, some banks offer zero liability fraud protection for their business customers, that protection is not mandatory and may be …

Protecting the Corporate Form in North Carolina | Raleigh Law Firm

The North Carolina Court of Appeals recently issued a decision regarding piercing the corporate veil, which reiterated that under North Carolina’s “instrumentality rule” an owner of a corporation or limited liability company can be held liable for the debts of the company, even if he or she is found not to have engaged in any wrongdoing individually. In Estate of …

Buying or Selling a Closely Held Business – A Few Steps to Consider

Agreeing to a sales price is hardly the final step in the negotiation process in the sale of a business. Even once the discussions have led a preliminary agreement to transfer ownership of a business at a particular price, the parties to the transaction still might not be on the same page as to what exactly entails “the business” that …

Independent Contractors/Employees Latest News from the Internal Revenue Service

As a business owner, how do you classify the people who work for you? Are they independent contractors or employees? The classification is important and can be scrutinized by the Internal Revenue Service (IRS) and others. The distinction between an employee and an independent contractor is important for several reasons. The following are a few areas of importance: Impacts tax …

Business Planning: Establishing and Maintaining An Effective Corporate Entity

Setting up a new business venture seems simple enough, particularly with all of the information available online. Many believe once they file their LLC or corporation with the Secretary of State, their business is established and they are protected from personal liability. Unfortunately, that belief is not accurate. While technically the corporation or LLC exists upon filing, there are several …