Getting started on your estate plan may have you thinking about how you want your property distributed after death, how your family will get on without you and numerous other aspects that could relate to your demise. However, when creating this type of plan, you may want to remember that it can also prove useful before your death, especially in the event that you become incapacitated.
Earnest Money Deposit (EMD) In A Real Estate Contract
The amount of the EMD should be discussed with your real estate agent. As a seller, this can be an important consideration to prevent a buyer from walking away from the contract. For a buyer, the "good faith" deposit amount confirms to the seller your intent to complete the transaction.
A partnership agreement provides a solid foundation
Slowly but surely, everything is falling into place. You have financing and office space, supplies and inventory. You have a rock-solid business plan, vendors and clients who are eager to get started. You have a partner who promises to be a powerful force who can help to propel your new business into a successful future. However, is it possible that your partner could also be the element that brings your company down?
Business structure determines tax liability
Business and taxes go hand-in-hand for entrepreneurs in the first few months of the year. This consideration is important because the structure of a business has future tax implications for the life of the company. Entrepreneurs must make this legal decision early on in a company's history, and due to future considerations, should do everything possible to get it right the first time.
The challenge of sole proprietorships
The most common form for someone just starting a business is the sole proprietorship. If you have a one-person business - a bookkeeper, a consultant, a computer repair shop, a housecleaner or a writer - it's the perfect solution.
