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Posts from October 2016

If You Are Looking To Buy Or Sell A Business, Seller Financing Is Key To Success

If You Are Looking To Buy Or Sell A Business, Seller Financing Is Key To Success published on

With the changing state of the economy it is becoming harder and harder for entrepreneurs to acquire loans for buying or selling a business. However, this can be easily solved through Seller Financing. Essentially, the seller will be paid for the business over time instead of one lump sum. In turn the seller can protect himself by assuming ownership if the buyer misses payment.

Seller Financing

Additional seller protection can be achieved by securing a loan against the business’s hard assets, a mortgage on the buyer’s home along with personal guarantee signed by the buyer and the buyer’s spouse. Safety when selling a business can only be accomplished through carefully drafted agreements and proper documentation.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have questions about SBA 504 Loans, call (800) 734-9900 orclubassist@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

Small Business Loans, SBA 504 Loans

Small Business Loans, SBA 504 Loans published on

If you have a small business, you could obtain a small business loan with lower interest and with payment terms of up to 10 to 20 years. The Small Business Administration, (SBA) will cover 40 percent of the project costs, the maximum limits are over $5 million.

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These 504 loans have to be for certain types of business; they cannot be speculative businesses by nature such as real estate investment. However, a vast majority of businesses are eligible, such as franchises, recreational facilities and clubs, farms and agriculture businesses, fishing vessels, medical facilities, etc. Proceeds from the loan can be used for financing of fixed assets, purchase of equipment, acquiring new facilities, updating existing locations. It is all about helping small business get to the next level.These 504 loans do not come directly from the SBA, but are rather provided by local Certified Development Companies which are nonprofits. The business is expected to contribute 10% to the project.

It’s a good idea to have a business plan and to have someone assist you to navigate through the government bureaucracy. These loans are meant to help small businesses, and you should allow our law firm to assist you in seeing if it is something you can benefit from.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have questions about SBA 504 Loans, call (800) 734-9900 orclubassist@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

How Much Of Your PPM Is Mere Opinion

How Much Of Your PPM Is Mere Opinion published on

A recent ruling by the Supreme Court may make businesses think twice about what to add to Private Placement Memorandum when trying to raise new working capital. The Court addressed the use of opinion statements in PPMs as investors rely on the information presented when deciding whether to make an investment. As Congress specifically confronted the issue at the time of passing the pertinent securities law, the Court has further tackled the same by looking at the over-reliance of opinion in the PPM.

The Court did not want the business to get around the requirement of having correct, factual information in the PPM by attempting to simply make all statements a matter of opinion. Also, the Court looked at the omission of fact when including the opinion that would otherwise make the opinion misleading such as leaving out potential risks in the venture to make the worthiness of the investment seem much more lucrative.

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

Misclassifying Workers Can Lead To Costly Penalties

Misclassifying Workers Can Lead To Costly Penalties published on

 

Avoiding payroll taxes by intentionally or unintentionally misclassifying employees as independent contractors is a costly mistake.

 

Most often the misclassification will be discovered during an audit or if a former worker files a complaint. Under “the twenty factor test” in Revenue Ruling 87-41, an employee is anyone who performs services for an employer if the employer can control what will be done and how it will be done. However, in an independent contractor relationship the employer has the right to control or direct only the result of the work done, and not the means and methods of a accomplishing the result.

 

How to properly create an independent contractor relationship

Foremost, you must have an independent contractor agreement in place. This will help define the responsibilities of the independent contractor to follow proper standards under the law. Next, the independent contractor should set up his own corporation or LLC. Then the  independent contractor relationship is between two entities. This helps the employer prove he is not controlling methods to accomplish the result.

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

 

IdentityTheft.Gov Upgraded To Better Assist Identity Theft Victims

IdentityTheft.Gov Upgraded To Better Assist Identity Theft Victims published on

The Federal Trade Commission’s www.IdentityTheft.gov website has been updated making it easier for consumers to start the process of regaining their identity. The website has many tools that allow identity theft victims to alert law enforcement, the credit bureaus, and the IRS, as well as other necessary parties. The website will also allow victims to file a complaint with the FTC on the same site.

Identity theft2

The website, using the information entered, will create a recovery plan based on the information that the consumer provides. This website, which can also be viewed on mobile devices, should be a great help to many victims of identity theft with the ever increasing use of mobile devices as well as other devices to make purchases as well as store and provide our information for various services and products.

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

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