logo-white-notext

Answering Incorporation FAQs with Joshua D. Brinen

How Does Incorporation Affect Liability? The purpose of incorporation is to create a shield, or a corporate veil, to protect your personal assets from the liabilities of a business. While

Responsible Person Liability

A wide variety of reasons can be advanced as to why business payroll taxes might not be paid.  Those reasons include willful failure to pay and negligence. However, when business

What is Self-Dealing in Business?

Business partners, officers, and directors of a corporation all owe fiduciary duties of loyalty and good faith to the company and must act in the company’s best interests. Self-dealing occurs

Should Your Company Raise Capital Under Rule 506(b) or Rule 506(c)?

Under the federal securities laws, a company may not offer securities unless they have been registered with the Securities and Exchange Commission (SEC) or an exemption from registration can be

Forming an LLC in New York

A limited liability company (LLC) is a business structure that offers several advantages, including pass-through taxation and protection from personal liability. While forming an LLC in New York is an

What is Dissolution in Business?

Making the decision to close a business can be a difficult one, and the steps that must be taken to do so are often complex. If a business owner determines

Tax Avoidance vs. Evasion — What’s the Difference?

Supreme Court Justice Oliver Wendell Holmes, Jr. is credited with saying, “taxes are the price we pay for civilized society.” No one must pay more in taxes than necessary under

Cancellation of Debt: What Do You Mean I Have to Pay Tax on That?

If you had debt that was reduced or canceled not through bankruptcy or insolvency, that reduction may be taxable. Even though there are no actual cash proceeds, cancellation or discharge

What is a Doubt as to Liability Offer in Compromise?

An Offer in Compromise is an agreement made between the taxpayer and the Internal Revenue Service (IRS) that settles a tax debt for an amount less than the amount of