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Posts from April 2016

Protect Your Capital With A Company Formation Agreement

Protect Your Capital With A Company Formation Agreement published on

If you are entering into a business arrangement with another, you should consider whether or not you should enter into an agreement to form a Corporation or Limited Liability Company and which issues should be addressed in such agreement. If that was your line of thinking, then you’re already on the right track.

Without an agreement to form a Corporation or Limited Liability Company, there may be numerous uncertainties as to the relationship between the owners, the expectations and goals of the parties, and as to how the Corporation or Limited Liability Company should be managed and operated. Furthermore, without any written agreement to the contrary, the owners may have the right to share equally in the capital and profits of the business, even if that was not the original intent of the parties.

AgreementThe foregoing problems can be avoided simply by entering into a properly drafted agreement to form a Corporation or Limited Liability Company which can set out rules concerning matters such as percentage of ownership and ownership rights for the Corporation or Limited Liability Company, profit and loss allocation, management and decision making, permitted expenses, and determining how disputes will be handled.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have questions about Business Agreements, call (800) 734-9900 or clubassist@amerilawyer.comfor assistance. Remember, as a member of the  General Counsel Club, you receive unlimited legal, business, credit and tax advice all year long.

Spiegel & Utrera, P.A. is a corporate law firm with its main offices located in Miami, Florida with offices throughout the United States. As a law firm, we do more than just help you form your business entity. We stand ready to help with the maintenance of your legal business entity! We will assist you with Incorporation Service, Trademarks,Copyrights, Estate Planning, Legal Counsel, Wills,Trusts, Agreements & Leases, Corporate & Company

How To Profit Off Tax Delinquency

How To Profit Off Tax Delinquency published on

Know what you are purchasing

When you initially buy a lien, you are not buying an actual piece of land. Instead, your investment is on the debt or delinquent taxes of the property, who has fallen behind on payments. The buyer is given first position on the title of the property over others after he/she has paid the outstanding taxes. However, every State is different. Make sure you know the interest rate and return per year. Sale dates vary from State to State as well. Each state usually has one or two predetermined months any given year. The timing is important when calculating potential returns on your lien.

Tax Delinquency

Calculating Rate-of-Return on the Lien Certificate

When you try to buy a certificate, it is sold at face value plus interest and administrative charges. The lien interest rate is either bid down or the entire purchase price is bid up to a premium bid. The property owner must repay the lien amount to the certificate holder plus an interest rate between 16% and 18%. The property owner also has a set redemption period to pay the lien. If the lien is not paid by the set deadline, the certificate holder can foreclose and obtain the property deed.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have questions about buying tax liens, call (800) 734-9900 or clubassist@amerilawyer.com for assistance. Remember, as a member of the  General Counsel Club, you receive unlimited legal, business, credit and tax advice all year long.

Spiegel & Utrera, P.A. is a corporate law firm with its main offices located in Miami, Florida with offices throughout the United States. As a law firm, we do more than just help you form your business entity. We stand ready to help with the maintenance of your legal business entity! We will assist you with Incorporation Service, Trademarks,Copyrights, Estate Planning, Legal Counsel, Wills, Trusts, Agreements & Leases, Corporate & Company

What Investors Look For In A Business

What Investors Look For In A Business published on

Seeking an investor to fund your new business can be stressful. Here are a few tips as to what investors look for when evaluating whether to invest in a new company to better prepare you to pitch an idea to investors:

 

  1. Financial performance. It is crucial that you are able to prove to potential investors that your company has excellent financial performance. Be prepared to answer questions about the financial stability of your company and ideas relating to potential areas of growth. Debt repayment plans should also be properly presented. Expect investors to evaluate the company’s revenue streams acquisition cost and turnover rates.
  2. Experience. Investors don’t want to invest in your mistakes, instead they seek experienced entrepreneurs and management teams with a track record of performance in the industry. Most investors will research your credentials and areas of expertise and your passion and commitment should clearly be evident to inspire confidence in investors.
  3. Uniqueness. Your company needs to be unique and you must prove to your investors that your market potential is big enough to make investing worthwhile. Investors look for features that distinguish your company from competitors such as intellectual property rights and distribution relationships.
  4. Large market size. The larger and more stable your customer base is, the stronger competitive advantage you will have when pitching to investors. A larger and more stable customer base will serve as proof that your company has a great impact to its target market.

 

InvestorsInvestors look for a company that can grow quickly and manage its growth. Investors must see that the company can generate significant profits beyond the initial product idea with adequate financial projections and a plan to include multiple sources of revenue.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have business related questions, call (800) 734-9900 or clubassist@amerilawyer.com for assistance. Remember, as a member of the  General Counsel Club, you receive unlimited legal, business, credit and tax advice all year long.

Spiegel & Utrera, P.A. is a corporate law firm with its main offices located in Miami, Florida with offices throughout the United States. As a law firm, we do more than just help you form your business entity. We stand ready to help with the maintenance of your legal business entity! We will assist you with Incorporation Service, Trademarks, Copyrights, Estate Planning, Legal Counsel, Wills, Trusts, Agreements & Leases, Corporate & Company

Raising Minimum Wages May Also Mean Overtime For Managers

Raising Minimum Wages May Also Mean Overtime For Managers published on

A recent mandate by President Obama has raised the minimum wage for federal employees to $10.11, encouraging states to also raise their minimum wage and spurring debate in Congress to raise the private sector’s federal minimum wage. To small business owners in the private sector, the possible rise in employee minimum wage is a concern as businesses struggle to balance added costs and profit margins. However, talks on amending employee compensation have not ended at hourly minimum wage alone.

President Barack Obama signs executive orders outlining proposals to reduce gun violence, Wednesday, Jan. 16, 2013, in the South Court Auditorium at the White House in Washington. (AP Photo/Carolyn Kaster)

As part of the labor discussion, President Obama has also proposed that the U.S. Department of Labor consider raising the salary floor for overtime eligibility. Currently, salaried employees are exempt from overtime compensation if they earn at least $455 dollars per week or $23,660 per year. With a raised floor, a larger number of salaried employees with a higher wage would also be eligible for overtime. As small business owners face these possible new changes, many considering different strategies to help cover costs, including hiring fewer employees or shifting salaried employees to hourly wages. Upon release of their recommendations for the changed policies, the U.S. Department of Labor will open the floor for public comment.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have business related questions, call (800) 734-9900 or clubassist@amerilawyer.com for assistance. Remember, as a member of the  General Counsel Club, you receive unlimited legal, business, credit and tax advice all year long.

Spiegel & Utrera, P.A. is a corporate law firm with its main offices located in Miami, Florida with offices throughout the United States. As a law firm, we do more than just help you form your business entity. We stand ready to help with the maintenance of your legal business entity! We will assist you with Incorporation Service, Trademarks, Copyrights, Estate Planning, Legal Counsel, Wills, Trusts, Agreements & Leases, Corporate & Company

Tax Law Has US Citizens Second Guessing US Citizenship

Tax Law Has US Citizens Second Guessing US Citizenship published on

The Foreign Account Tax Compliance Act or FACTCA is a law that is causing many U.S. Citizens to renounce their citizenship. FATCA requires the reporting of foreign accounts or assets by U.S. citizens and residents. IRS Form 8938 is used to report these assets. The effort and time to do this reporting as well as the potential cost are causing some U.S. citizens and residents to renounce their citizenship or forfeit their green cards. In addition foreign banks and other entities must now report the assets of Americans living outside the United States. There are some exceptions to FATCA.

 

<> on June 27, 2012 in Los Angeles, California.

According to the IRS, “Taxpayers with a total value of specified foreign financial assets below a certain threshold do not have to file IRS Form 8938

  • If the total value is at or below $50,000 at the end of the tax year, there is no reporting requirement for the year, unless the total value was more than $75,000 at any time during the tax year
  • The threshold is higher for individuals who live outside the United States
  • Thresholds are different for married and single taxpayers
  • Taxpayers who do not have to file an income tax return for the tax year do not have to file IRS Form 8938, regardless of the value of their specified foreign financial assets.”

Americans have been renouncing citizenship in record numbers in order to avoid large tax bills.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have tax questions, call (800) 734-9900 or clubassist@amerilawyer.com for assistance. Remember, as a member of the  General Counsel Club, you receive unlimited legal, business, credit and tax advice all year long.

Spiegel & Utrera, P.A. is a corporate law firm with its main offices located in Miami, Florida with offices throughout the United States. As a law firm, we do more than just help you form your business entity. We stand ready to help with the maintenance of your legal business entity! We will assist you with Incorporation Service, Trademarks, Copyrights, Estate Planning, Legal Counsel, Wills, Trusts, Agreements & Leases, Corporate & Company

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