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What is Self-Dealing in 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 when a fiduciary puts their own interests above those of the company to...

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Forming an LLC in New York

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 easier process than forming a corporation, still several steps must...

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What is Dissolution in Business?

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 the time has come to end operations, that business owner must go through the dissolution process. Whether...

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

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 the U.S. Tax Code. You can structure your financial affairs to be tax efficient — but you...

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