Negotiating the Terms of the Deal — Buying or Selling an LLC or Small Business In New York

After you have found your target New York business to acquire, you (and/or your corporate attorney) have to negotiate the terms of the business purchase transaction.  In this article I will outline some of the typical terms of a term sheet for the purchase of a small business and some of the things you need… [Read More]

Tags: Business Checklist, Business Merger, New York business attorney, NY business lawyer

How Do I Determine Whether my New York Business has Employees or Independent Contractors?

It is critical that you, the business owner, perhaps with the help of your corporate attorney, correctly determine whether the individuals providing services are employees or independent contractors.  For the most part, the employer must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to an… [Read More]

Tags: Business Checklist, Employee

Do You Need an Operating Agreement for Your Small Business LLC? Here is my LLC Operating Agreement Checklist.

As you may know, a “corporate kit” includes a pre-made form of limited liability company operating agreement.  There is no telling how complete these are and whether or not they were prepared by a corporate attorney.  Certainly an off-the-shelf operating agreement is not customized for your needs.  I recommend having a New York Small Business… [Read More]

Tags: Business Checklist, New York business attorney, NY business lawyer, Operating Agreement

Are Parents Responsible for Their Kid’s bid on eBay?

I get called by the media every few weeks for an interview regarding a current story.   On this particular day, I got a call from Beth Whitehouse, a reporter with Newsday in Long Island, NY.  She got a letter from a reader saying “Without my knowledge, my 8-year-old daughter signed up for eBay and bid… [Read More]

Tags: Contracts, eBay, Kid Bids