Worst of all, your cash reserves and any Paycheck Protection Program money you may have received are long gone. Your creditors are hounding your cell phone and your mailbox is full of bills. And with all of the talk about the “new normal,” perhaps you no longer see any light at the end of the tunnel for your business and are ready to throw in the towel. If so, perhaps a Chapter 7 bankruptcy is right for you.
What if you want to divide liability and management within your limited liability company?
2 Types of LLCs: Manager-Managed v. Member-Managed Let’s talk about the two types of LLCs or Limited Liability Companies. First of all, Limited Liability Companies are a very flexible vehicle for doing business. They give you all of the protections from liability that a corporation gives you without many of the complexities and drawbacks that…
~7 minute read Tricia Dunlap, Esq. CIPP/US Working At Home Guidelines We expect cybercrime incidents to increase in the wake of the coronavirus. Thieves usually take advantage of social disruption and fear – cyberthieves will no doubt see COVID-19 as a ripe opportunity. Here are nine working at home guidelines in cybersecurity that you can…
~4 minute read COVID-19 Response Emergency Act On Tuesday, March 17, 2020, the Washington, D.C. City Council enacted the COVID-19 Response Emergency Amendment Act of 2020. This new legislation expanded unemployment compensation benefits, increased job-protected leave for D.C. workers, deferred sales tax payments, and created a micro-grant program to assist recovery for D.C.-based businesses and D.C. employees.…
Tricia Dunlap Esq. ~4 minute read If your small business is structured as a limited liability company (LLC), then the cornerstone of your success is a well-written and signed operating agreement (OA). Single member LLCs are no exception. This post is #2 in our LLC Education Series: What Exactly IS a LLC, Anyway? Operating Agreements – Essential to…
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