While an LLC or corporation provides liability protection, it doesn’t make business owners immune to all risks. There are several situations where personal liability still applies: Personal Guarantees – If you personally guarantee a loan or contract, you remain liable even if your business defaults. Taxes & Payroll Liabilities – The IRS and state tax authorities can hold business owners

Forming a corporation or LLC isn’t just about structure—it’s your financial shield. The “corporate veil” acts as a legal barrier, keeping your personal assets safe from business debts and lawsuits. This legal separation ensures that business debts and liabilities remain with the company, shielding the owners. However, if a court determines that a business is not being properly maintained as

Risk is just part of the game. Whether you’re signing contracts, selling products, or dealing with customers, liability is always lurking in the background. But not all liability is the same. Understanding the difference between contract liability and tort liability is crucial for protecting your business and ensuring you’re prepared for basically anything. Contract Liability: A Deal is a Deal

UPDATE (MARCH 4, 2025) : As of now, the US Treasury Department has officially suspended all enforcement of the CTA. Read here for more details. Here’s the most up-to-date information we have on the Corporate Transparency Act (CTA) and Beneficial Owner Reports (BOI). If you own a small business, you’ve probably heard about the Corporate Transparency Act (CTA) and the

I’ve been apart of almost 10 new ventures before turning 35, and I will tell you that those first few years can be both brutal (hello, it’s expensive) and exciting. I am big on the “BIG IDEA” – honestly, I could come up with BIG IDEAS all day long (I am a branding nerd!) and so it’s been a huge

You’ve got the BIG IDEA, and you’re excited to hit the ground running. Here’s a check list to make sure you’re ready to start up and grow. Starting a small business can be overwhelming, but with careful planning and attention to detail, you can set yourself up for success.   File your Entity with the US Government Choose a Business

Hey, Texas Entrepreneur! You’ve got the big idea. You’ve built the product. You’ve written the first draft. Now, it’s time to make sure you and your entity are protected.   To file an LLC in the state of Texas, you will need to follow these 8 general steps:   Choose a Business Name Select a unique name for your LLC

US-Based Nonprofits – The end of the year is coming up fast! Make sure your books are tightened up and the beginning of 2025 will be a breeze. The end of the year is a crucial time for non-profit organizations in the US. Proper financial management, compliance reviews, and donor engagement can set the stage for continued success. This 10-step

Business Owners – The year 2024 is about come to a close, and a new year is right around the corner. Make sure you are ready. As the year draws to a close, small business owners in the USA face critical tasks to ensure financial stability and regulatory compliance. Proper bookkeeping, accounting, and business filings can make the transition into

UPDATE (MARCH 4, 2025) : As of now, the US Treasury Department has officially suspended all enforcement of the CTA. Read here for more details. The clock is ticking! The end-of-year deadline for Beneficial Ownership Information (BOI) reporting is fast approaching, and your clients may be counting on you for guidance. With the end-of-year deadline fast approaching, American Certified Public