Is Your Word Your Bond? Our parents taught us to be people of our word—to mean what we say and say what we mean. For most situations in life, it is enough to give your word to enter into an agreement—from who will take out the trash this week to where to meet for dinner. […]
What Dreams Are Made of? Being your own boss is a dream for many. It is also a pleasant daydream to many more stuck in stifling offices or unfulfilling careers. In addition to freedom from an unsympathetic supervisor’s requirements, owning a business appeals to so many because of the opportunity for greater creative expression in […]
If you are a small business owner, or considering starting your own business, it has always been important to know your options for incorporation. The uncertainty and financial stresses of COVID-19 and the subsequent recession make decisions about incorporation even more important. In this article, we will review two common types of incorporation for small […]
How a business is taxed depends in part on the business’s legal form. The five most common types of Massachusetts businesses include corporations, S corporations, Limited Liability Companies (LLCs), partnerships, and sole proprietorships. Most states subject corporations to a corporate income tax. In contrast, pass-through entities such as S corporations, LLCs, partnerships, and sole proprietorships […]
In a word—yes. You would benefit greatly from incorporating your business as a limited liability company (LLC), as opposed to operating it as a sole proprietor or as part of a group of partners in a general partnership. An LLC is a relatively simple means of incorporating a business, with many benefits for small-business owners. […]
On November 8, 2016, Massachusetts voted in favor of legalizing the possession and use of marijuana for recreational purposes, joining a growing number of states that have passed similar laws. This means that most employers will have to address employee use of marijuana in the workplace. Under the new law, an individual who is 21 […]
Massachusetts is seeking to approve a bill that would impose strict new limits on non-compete agreements. This would be especially appealing to start-ups and skilled tech workers. The attorneys at Phillips, Gerstein & Channen are informed and in tune with the proposed law and its applicability to existing businesses and employees who may have signed […]
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