Nevada DETR Audits – What You Need to Know

Have you received an audit notice from the Nevada Department of Employment, Training, and Rehabilitation (DETR)?  Try not to panic.  Here’s what you should know:

The purpose of the audit is to verify that the numbers reported to DETR match the numbers in your books.  The letter you received lists a bunch of documents the auditor wants to see at the audit meeting.  The auditor will check your numbers against the ones you reported to DETR and make sure they match.

If you have paid workers as independent contractors, the auditor wants to see backup documentation that they are, in fact, independent contractors and not actually employees for which you need to pay taxes.  The fact that you have an independent contractor agreement with them is NOT sufficient.  Read more about

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Nevada vs Delaware – The Great Debate

It’s a question almost every startup client asks – should we incorporate in Nevada or Delaware?  This is becoming a hotly contested debate among lawyers, investors, and startups.  As was drilled into your head in business school, Delaware is a very business-friendly state.  It’s known for its business-friendly laws, a solid history of business-friendly legal precedent (court decisions), and a chancery court that handles only business matters in a more skilled, expeditious manner than the general court. Nevada, being pretty quick on the uptake, has basically copied and pasted Delaware statues into the Nevada Revised Statutes to provide the foundation for a business-friendly environment to be built out further with case law.  We also have a business court which, similar to the Delaware chancery court, handles cases

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Myth Of An S-Corp

I’m Gina Bongiovi, and I’m a lawyer who works with start-ups and small businesses. And in this video, I’m going to talk about the myth of forming an S Corp. I have a lot of clients that come to me or they call me and they say I want to form an S Corp. It’s kind of a technicality, but that’s not exactly possible. And let me explain why.

First of all, the IRS allows entities like LLCs or corporations to elect be taxed certain ways. So basically there are two different worlds–you have a legal world over here where you choose your entity, your full proprietorship, general partnership, limited partnership, LLC, corporation, and then on this side, then you have the opportunity to choose how you want your

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Benefit Corporations

On January 1, 2014, the Nevada Secretary of State began accepting filings for a new entity, the benefit corporation, or “B corp.” Traditional corporations labor under an obligation to turn a profit for shareholders.  A corporation’s failure to do so can result in a shareholder derivative suit, where the individual shareholders sue the management or board for failure to keep profits in the crosshairs.  Companies turning an eye toward social change and community activism have recently struggled with whether to incorporate as a for-profit business or as a non-profit.  The benefit corporation is a marriage of the two. A concept pioneered by globally conscious retailer Patagonia, the benefit corporation allows a for-profit company to subordinate its fiduciary duty to turn a profit to a larger, more “beneficial” goal.  Whether a

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Small Business New Year's Resolutions

While we make personal resolutions to exercise more, quit smoking/drinking/gambling, swear less, and spend more time with family, we business owners should make some resolutions for our companies.  May I suggest the following:

Get things in writing.  Many, if not most, of the disputes between partners arise because they don’t get the terms of their partnership in writing.  We no longer live in a world where doing business on a handshake is advisable.  If someone is making you a promise, get it in writing. Review everything you sign.  EVERYTHING.  Yes, business owners are busy people.  Yes, running a business requires making quick decisions without getting bogged down in details.  However, it’s imperative that you (or a trusted advisor) carefully read everything you sign BEFORE signing.  The quickest

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Should I Incorporate My Business?

I’m Gina Bongiovi. And I’m a lawyer who works with start ups and small businesses. And in this video I’m going to talk about whether or not you should incorporate your business.

So if you’re in business and the most formal thing you’ve done thus far is print business cards, then you’re operating as a sole proprietor. And what it means when you’re operating a sole proprietor is God forbid somebody sues you for something you did in your business, they can get at your personal assets if they win a lawsuit.

The purpose of forming an entity like an LLC or a corporation is that you’re then doing business as the LLC or the corporation and you’re not doing business as yourself. So the LLC and the corporation

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How to Get Your Case into Mediation

My name is Glenn Meier and I am happy to be contributing a series of guest posts for Gina’s blog. These posts are inspired by one of the first posts I ever read on Gina’s blog, a post entitled, “Someone Owes Me Money – What Are My Options?” In that post, Gina doses out her usual serving of good, practical, and common sense advice. She wisely recommends that prior to initiating a formal lawsuit you send a written demand for the money your owed. She also says that your next step if that demand goes unanswered is to file a lawsuit.

In prior posts (Mediation as an Option, Why Business Owners Benefit from Mediation) I’ve discussed just what mediation is and also some of

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Why Business Owners Benefit from Mediation

My name is Glenn Meier and I am happy to be contributing a series of guest posts for Gina’s blog. These posts are inspired by one of the first posts I ever read on Gina’s blog, a post entitled, “Someone Owes Me Money – What Are My Options?” In that post, Gina doses out her usual serving of good, practical, and common sense advice. She wisely recommends that prior to initiating a formal lawsuit you send a written demand for the money your owed. She also says that your next step if that demand goes unanswered is to file a lawsuit.

In my last guest post, I discussed the basic idea of mediation. In this post we’ll discuss some of the

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Someone Owes Me Money, cont'd. - Mediation as an Option

My name is Glenn Meier and I am happy to be contributing a series of guest posts for Gina’s blog. These posts are inspired by one of the first posts I ever read on Gina’s blog, a post entitled, “Someone Owes Me Money – What Are My Options?” In that post, Gina doses out her usual serving of good, practical, and common sense advice. She wisely recommends that prior to initiating a formal lawsuit you send a written demand for the money your owed. She also says that your next step if that demand goes unanswered is to file a lawsuit.

I agree with Gina that the traditional next step in pursuing money a business is owed is to file a lawsuit. However, in recent

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Tips for Nonprofit Organizations

If you are interested in forming a nonprofit corporation in Nevada, here are some helpful hints.

State and Federal: You MUST register your organization both with the State of Nevada and then file with the IRS.  Because your 501(c)3 tax-exempt status comes from the IRS, registering as a nonprofit corporation just with the state doesn’t cut the mustard. Registration and Licensing: You MUST register the organization as a nonprofit corporation with the State of Nevada, before filing Form 1023 with the IRS. The filing fees for registering a nonprofit in Nevada are significantly lower than the fees in a for-profit business, but you still have to register. You also have to name a Tips for Nonprofit Organizations

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