Posts Tagged ‘commercial lending’

Important Things To Quiz Your Massachusetts Business Lawyer About

Friday, May 1st, 2009

Referral- Referral is great way to find the right lawyer for your business in Massachusetts. Ask other business owners, colleagues, accountants, friends and family who their lawyers are and if they would recommend him or her for your business. The higher the lawyer is spoken of, the more likely he or she is to be respected, trustworthy and have a good reputation.

Jurisdiction- Remember legislation applicable to your business will depend on your business type, product supplied or service rendered as well as your area of operation. Do a little bit of snooping and research on business lawyers located in Massachusetts. If you are lucky enough to strike gold by immediately finding the perfect lawyer, stick with him or her. Jumping from one lawyer to another will not be good for your business and you will be required to furnish all the business information since start-up to date all over again.

Meeting in person – Do not make a decision merely based on the person who referred you to the lawyers opinion or from a telephone consultation or conversation with the lawyer. Take the time to make an appointment to meet him or her in person. This will give you an idea of the lawyers personality and overall business conduct. If you are unsure, follow your sixth sense and see a few more candidates.

Events calling for legal assistance- Certain events or situations in life call for legal assistance. Unfortunately these events are more common in the line of business. Some legal problems requiring definite assistance of a legal eagle are employee and employer relations, co-operation agreements, take-overs and business start-up. Rather pay the lawyer a little more now and avoid greater damages or monetary losses to your business later.

Area of speciality- It is very important to get a lawyer who specializes in the area of your need. If the business encounters for example a labour related problem, a criminal lawyer will be of no use.

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Massachusetts Business Lawyers for Local Entrepreneurs

Friday, May 1st, 2009

Engaging a Massachusetts business lawyer for a start-up business stands to be the most sensical decision a new start-up can carry out. Much of this is due to the fiscally-challenging nature of business operations in the Commonwealth in even good years, let alone times as they are today. Additionally, having a good lawyer who can assist a business in navigating the rough shoals that populate the state’s tax and regulatory seas is like having a fine ship with which to sail over them.

Whether it’s true or completely untrue, the state of Massachusetts is sometimes regarded as a monetary sinkhole by its citizenry. But it is a fact that the state’s tax codes and business regulations can be a bit challenging to sort out, at least at first. This sometimes hurts a start-up when it seeks to begin operations, in some cases. However, this is where a Massachusetts business lawyer can pay off in a big way in terms of business law know-how.

The reason for this is simple: Because any good attorney will take a part in start-up planning, helping to advise what the legal structure of the new business should be, the start-up will have a solid chance at succeeding down the line. A good Massachusetts business lawyer can help oversee most every aspect of this part of the start-up’s initial activities. This frees up resources in the business that can be directed elsewhere, which is a good thing.

Due to the economy, the business atmosphere in many states is murkier than ever. Good attorneys can help a start-up chart a course through turbulent seas that could sink the business before it even leaves the dock. This is especially so in Massachusetts. Fortunately, a good Massachusetts business lawyer can give a sober assessment and help chart a course for success in starting up.

Taking the time necessary to engage the services of a good Massachusetts business lawyer can pay great dividends in the life of a start-up business in both the short term and the long term. A business that’s properly structured and advised when it first starts stands a much better chance of making it down the road.

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Selecting a Tax Competent Massachusetts Business Lawyer

Sunday, April 26th, 2009

It is possible to lower your tax bill by having a Massachusetts business lawyer coming in and going over your records. There are many laws and exceptions within the tax rules and you may not be aware of all of the deductions you can make. Tax preparation for business should actually be considered a full time job as your tax lawyer will need to keep himself or herself updated on all the new changes being made with taxes and how you can benefit.

Any tax lawyer will tell you that record keeping is the most important part of tax law. The vast majority of businesses that lose audits do not lose them because they were being dishonest; they lost them because they did not have the records needed to disprove the allegations. Many times businesses will have a specific position that does all of the record keeping.

The deductions that can be made for small business will depend on many factors. If your business is audited you will need to show how those business purchases were used only by the company as many times individuals that work in the home may use the item for non business activities.

Deductions relating to clients also need to be recorded and separated into different categories. The types of expenses you have will have different rates of deductions and if you cannot deduct an expense in one area you may be able to deduct it in another.

There are so many exceptions to rules that getting your tax return done properly can be difficult. This is where the small business lawyer can help, as they will completely understand what can and cannot be deducted on the tax return. Small business lawyers can also help you with an audit if this should occur.

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Hiring a Tax SpecialistMassachusetts Business Lawyer

Friday, April 24th, 2009

It is possible to lower your tax bill by having a Massachusetts business lawyer coming in and going over your records. There are many laws and exceptions within the tax rules and you may not be aware of all of the deductions you can make. Tax preparation for business should actually be considered a full time job as your tax lawyer will need to keep himself or herself updated on all the new changes being made with taxes and how you can benefit.

The most important part of small business tax is to keep immaculate records. Most reasons that small businesses loss when contesting audits is poor record keeping. Even If you have a specific position for record keeping you should be constantly monitoring the record keeping. It is important to keep all receipts and canceled checks for business expenses and keep them organized.

A tax lawyer will be bale to maximize your business expenses so you can deduct as much as possible. The type of expenses you can deduct must be expenses that specifically relate to your business. If you purchase a computer and use it for business and home work then it cannot be deducted. A Massachusetts business lawyer will be able to tell you how to use items so that they can be deducted and you can lower your tax bill. They will also tell you the best way to justify your deductions if you should be audited.

If you tend to entertain clients then you can deduct up to 50% of these expenses on your tax return. However any expenses for employees and their families are 100% deductible.

There are some other exceptions to this rule as well. Basically a Massachusetts business lawyer will help you save the most you can by truthfully lowering your tax bill and providing help and advice if you should be audited.

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Legal Help for Small Business With a Massachusetts Business Lawyer

Friday, April 24th, 2009

There are many Massachusetts business lawyers that are trained in small business law and can help you set up a small business or deal with any legal problem that may arise. Small businesses are on the rise, which means that there is a greater demand for those that understand and can implement small business law. Each state will have its own set of laws pertaining to small businesses as well as federal laws. Keeping everything straight can be very confusing and if you should make a mistake there can be dramatic consequences.

Small business lawyers will be bale to help you set up a small business, as well as assist with any civil legislation. There are many structures that can be used to form a small business and they include a sole proprietorship, general partnership, limited partnership, corporation or limited liability company. Each of these start up formations will have various legal issues and paperwork needed to ensure all liability is covered. There are advantages and disadvantages to each of the above partnerships or ownerships.

Business litigation is important as many companies will have been cheated, stolen from, sued, or lied to. Even if you have not experienced any of these yet there may come a time when it occurs and you need to be prepared. Your business may have been involved in a ‘freeze-out” or your board members may be arguing. No matter the problem a Massachusetts business lawyer for small businesses will be able to help.

There is also litigation that will occur at some point in time. Business litigation is used when you are sued or are suing some one else, and tends to occur when some steals, cheats or lies form or to your company. There are many different types of litigations and a small business lawyer can help get you moving in the right direction and will layout all of your options.

If your company needs it you may decide to hire a business lawyer that deals specifically with your company or you may simply use a law firm for all of your legal needs. There are law firms out there can help you no matter the legal problem.

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The March 16, 2009 Edition of the AIG Story

Tuesday, March 17th, 2009

I have to say this is getting really interesting and man people were hoping to see this happen, but what will the actual outcome be of this?

As noted in the NY Times today; Everyone from President Obama down seems outraged by this. The president suggested on Monday that we just tear up those bonus contracts. He told the Treasury secretary, Timothy F. Geithner, to use every legal means to recoup taxpayers money. Hard to argue there.

As we all know there are those apposed and those supporting the payouts. The Author of the article The Case for Bonuses at A.I.G. had several points in each favor, yet his view was towards the payment of the bonuses essentially because these were pre-existing contracts.

Okay, I can accept that. But why were these contracts not investigated prior to AIG sucking out billions of dollars from the American Tax Payer? We these contracts seen before the bailout money started to flow? If so, there needs to be some investigation of the people that reviewed them prior to funding them. If they were not brought out, why not? And how many more surprises are there lurking behind the curtain.

This is all too familiar to the Sub-Prime Mortgage meltdown that is still being felt. Millions of dollars being paid to executives of failing companies which helped to drive them further into the ground. Is this not what is happening here?

I understand the salvage efforts will require the best minds to bring the company back from the dead, but these contracts are to pay individuals that were there before the bailout and were at least present when the wrecking ball was put into motion, and these are the individuals that the American Taxpayer is putting their faith in to restore the company?

If you were a gambler, would you bet on a track record like that? Not so sure I would.

There was a quote from Andres M. Cuomo in the same article in NY Times; Of course, if taxpayers had not bailed out A.I.G., these contracts would not be worth anything. Andrew M. Cuomo, the attorney general of New York, made the point on Monday, when he subpoenaed A.I.G. for the names of the people who received the bonuses. If A.I.G. had spiraled into bankruptcy, its employees would have had to get in line with other unsecured creditors.

This is the point that I would suggest to work on, and the point that should have been worked on. If the American Taxpayer did not step up to the plate, AIG would be gone and those million dollar contracts along with them.

Here is a concept for you. If these people are going to turn the company around, they need some motivation right? Let them keep the bonuses, but not in cash. Put is in stock which can not be converted to cash until the company is in a profitable state again. This would make everyone happy then wouldnt it?

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