April 29, 2013 By: Barry E. Haimo, Esq. Beware of the Single-Member Limited Liability Company (LLC) Limited Liability Company (LLC) interests are characterized as personal property under Florida Law. Everyone that forms a business entity to limit their personal liability does so to separate themselves from creditors of...
By: Barry E. Haimo, Esq. February 19, 2018 Annual Reports and Meeting Minutes You formed a business to separate your personal assets from your business creditors right? It's called limited liability, and it's the most common reason we find people organize their business with a business entity such...
By: Barry E. Haimo, Esq. February 19, 2018 Failure to Respect Corporate Formalities and Piercing the Corporate Veil When it comes forming your business, you have options: disregarded sole proprietorship, general partnership, limited partnerships, limited liability partnerships, limited liability limited partnerships, corporations and limited liability companies (LLCs) (partnership,...
By: Barry E. Haimo, Esq. December 8, 2017 Your 20 Question Business Planning Stress Test If you watch the television show, the Profit, and are a fan of Marcus Lemonis, then you know that "people, process, product" are the keys to creating a successful business. In addition to...
By: Barry E. Haimo, Esq. November 17, 2017 New Partnership Audit Rules: Amend Your Partnership Agreements Now The audit rules relating to partnerships undergo an important change starting January 1, 2018. It does not apply to all partnerships. However, for the partnerships that it does affect, it affects...
By: Barry E. Haimo, Esq. April 20, 2017 Why Are Corporation Governing Documents Important? Part 2 - Shareholder's Agreement (or Buy-Sell Agreement) In a recent blog post, we explained the importance of corporation governing documents outside of what Florida requires. While Florida’s required documents are important, they do not...
By: Barry E. Haimo, Esq. March 23, 2017 Why Choose a C-corporation Versus an S-corporation? While it’s great that you decided to incorporate your business, there are a few different types of corporate structures from which to choose. Below, please find some pros and cons of c-corporations versus...
By: Barry E. Haimo, Esq. March 9, 2017 Why Are a Corporation’s Governing Documents Important? Part 1 - Bylaws When you begin to set up a corporation – or any new business for that matter – you need to have a vision in place for where the business...
By: Barry E. Haimo, Esq. February 23, 2017 What Are the Different Types of Joint Ventures? If you are still trying to determine what type of partnership you want to form, look at the goals you are trying to achieve. This is where creating a joint venture may...
[caption id="attachment_5720" align="alignnone" width="300"] This multinational telecommunications company is an example of a joint venture.[/caption] By: Barry E. Haimo, Esq. February 9, 2017 Who Are the Parties in a Joint Venture? A joint venture is a unique type of business partnership that allows you to work together with another...