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
Continue reading Someone Owes Me Money – Mediation as an Option
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
How To Choose Your Business Address
I’m Gina Bongiovi, and I’m a lawyer who works with start-ups and small businesses. In this video series, I’m walking you through the steps on how to start a small business in Las Vegas. We already covered naming your business so if you missed that video it’s on the link below the like button. Now we’re going to talk about how to choose your business address.
This seems like a silly issue, but it can actually have some ramifications.
You want to keep in mind the business address you register with the secretary of state is public record. If you’re doing anything that you might have people who don’t really like you very much, you might not want
Continue reading How To Choose Your Business Address
I’m Gina Bongiovi. I’m a lawyer who works with startups and small businesses. In this video, I’m going to discuss how you choose a name for your business. While it may seem like a very easy thing to do, that you just choose your name, it’s actually not. You have to take a lot of things into consideration when you’re first naming your business, and a lot of those decisions depend on information that you probably don’t have, like your exit strategy. Even though it sounds a little strange to be talking about your exit strategy when you’re trying to start your business, it’s really important.
For example, if you plan on eventually taking your business national, you probably don’t want to have Las Vegas,
Continue reading How to Name Your Business
Drafting an operating/partnership/shareholder agreement seems to be my most important but least utilized service. For whatever reason, business owners are very reluctant to spend the money on a well-drafted operating agreement tailored to their needs when they can download one for free. If you are a regular visitor to my site, you have read the horror stories about companies that settle for generic operating agreements or others that simply go without.
A couple of weeks ago I spent over an hour with two business partners trying to nail down the specifics for their operating agreement. One remarked, “wow, I had no idea so much went into these agreements.” I explained that so many things can go wrong when you’re in business with another person. The operating agreement’s
Continue reading Operating Agreement Checklist
I’m Gina Bongiovi. I’m a lawyer who works with startups and small businesses. Whether you’re in the startup phase or whether you just have an idea rolling around in your head you might want to turn in to a business one day, you need to know how to start a business in Las Vegas. If you’ve done any research, you have found out that the process is pretty complicated and involves a whole bunch of steps; you have to go to a bunch of different agencies, you have to figure out a name, you have to figure out what entity you want to be, you have to figure out what sort of tax permit you need from the state, how you want the IRS to
Continue reading How to Start a Business in Las Vegas – Video Series
If you’re the majority owner of your business and are a minority, woman, veteran, or any combination of the three, you should consider getting certified.
Major companies like big casinos, public utilities, publicly traded companies, and those who deal with government contracts have set-asides in their budgets that they are REQUIRED to spend with minority, woman, or veteran owned businesses. Now, if you are a minority and own at least 51% of your business, you could certainly approach the supplier diversity departments of these major companies with your brochure and say, “hey, I’m a minority/woman/veteran and own this business. BUY FROM ME.” However, certification companies have popped up that actually make you prove the ownership and then reward you with a seal or logo or some widely-recognized
Continue reading Minority, Woman, and Veteran Owned Businesses
Here’s what happens when you get your operating agreement from a legal forms company.
I just finished helping a client negotiate a buyout. In English, that means he and his partner stopped longer seeing eye to eye on how to run the business so the partner offered to buy my client’s shares in the company.
We spent a month negotiating and getting nowhere when the partner’s attorney proposed adding someone new to the company without my client’s permission. This type of thing normally doesn’t fly without at least a majority vote. Of course, these guys were 50/50 partners and were already hostile, so agreeing on something was not going to happen. I asked for a copy of the company’s operating agreement, which they had bought from a
Continue reading Small Business Horror Story #7: Pre-Packaged Operating Agreements
Hiring employees costs money, not only in the amount you’re paying them but also in taxes, fees, and time spent filling out the paperwork for the relevant government agencies. Because of those headaches, it’s incredibly tempting to begin hiring workers as independent contractors. If you are misclassifying your workers, you risk an audit by the IRS and your state unemployment agencies. I’ve already discussed the factors considered by the IRS, but after helping a client through an audit by Nevada’s DETR (Department of Employment, Training and Rehabilitation), I thought I’d discuss their factors.
The employer must prove the following three conditions exist. If you fail one, you fail them all and the person in question is an employee:
1. The person has been and
Continue reading Are You Misclassifying Your Workers?
“Oh, we don’t really need a partnership agreement; we’re great friends.”
“We’ve been best friends since childhood, so we know how to resolve arguments.”
“He mah bess frenn.”
These are words that strike fear and anxiety into a corporate lawyer’s heart. Granted, our perception may be slightly skewed given that we always see what happens when things go horribly wrong. Still, if you want to maintain the friendship, putting together some sort of partnership agreement is the best way to do so.
A business partnership is a lot like a marriage. Therefore, a partnership breakup is a lot like a divorce. An operating/shareholder/partnership* agreement is like a prenuptial agreement but it’s not nearly as awkward to discuss.
For so many reasons, it is imperative to put one of these owners’
Continue reading Going into Business with a Friend?