Business, Estate Planning, Uncategorized

Exit Strategies for Small Businesses

Becoming a small business owner is a big decision. People, for the most part, begin working on operating agreements and articles of incorporation, and then move on to working on the business to make it successful and profitable. Few, if any, ever work on their exit strategy for their business from its inception. Most only start to… Continue reading Exit Strategies for Small Businesses

Business, Oklahoma

The Importance of an Operating Agreement

WHY DOES EVERY LLC NEEDS AN OPERATING AGREEMENT? The Operating Agreement for a LLC is the essential document that is referred to when issues and lawsuits concerning the LLC need to be resolved. The Operating Agreement is by far the most important and essential document for your LLC, and when you form an LLC, you should… Continue reading The Importance of an Operating Agreement

Business, IRS Taxes, Piercing the Corporate Veil

Commingling of Business & Personal Funds (And Why It Is A Bad Idea)

Most business owners know to keep their business assets separate from their personal assets. However, there are many small business owners that do not. This is a bad idea, both legally and logistically. If you have paid the money to an attorney or to the government to set up a business entity, whether a L.L.C.… Continue reading Commingling of Business & Personal Funds (And Why It Is A Bad Idea)