Certificate of Assumed Name After you’ve decided what type of business entity is right for your business, you may have to decide on a business name. In this sub-series of posts, we’ll discuss: …
READ MORE →Net Operating Loss If the taxpayer’s deductions for the year exceed gross income, the taxpayer may have a net operating loss (NOL). The NOL is used to reduce taxable income in other years. There are …
READ MORE →In Minnesota, “emancipation” means that a minor has the same legal rights and Minor obligations as an 18-year-old adult. It can also be “partial, conditional … or limited as to time or purpose.” …
READ MORE →Fringe Benefits Fringe benefits include items such as accident and health insurance, medical savings accounts, group term life insurance, salary continuation plans, reimbursements for educational …
READ MORE →Sample Item 23: Receipts ITEM 23: RECEIPTS Receipt This disclosure document summarizes certain provisions of the franchise agreement and other information in plain English. Read this disclosure …
READ MORE →What is the property tax refund program? The homeowner’s property tax refund program (sometimes called the “circuit breaker” or the PTR) is a state-paid refund that provides tax relief to homeowners …
READ MORE →Introduction Whether you are self-employed or an employee, if you use a portion of your home for business, you may be able to take a home office deduction, including some operating expenses for the …
READ MORE →Sole Proprietorship There are no federal or state regulations governing termination of the sole proprietorship itself. The sole proprietor simply winds up the affairs of the business and discontinues …
READ MORE →Sole Proprietorship A sole proprietor transfers ownership of the business by transferring the assets of the business to the new owner. The prior proprietorship is terminated and a new proprietorship …
READ MORE →A startup business, regardless of form, generally will find it difficult to obtain outside financing. The statistical failure rate for new businesses is high, and many lenders view financing the …
READ MORE →Sole Proprietorship The sole proprietor has full and complete authority to manage and control the business. There are no partners or shareholders to consult before making decisions. This form of …
READ MORE →All businesses, regardless of their form, will encounter certain organizational costs. These costs can include developing a business plan, obtaining necessary licenses and permits, conducting market …
READ MORE →Wages for employees are covered by both Federal and state wage and hour laws. The federal law that governs wage and overtime requirements is the Fair Labor Standards Act (FLSA) and the regulations …
READ MORE →A recent case before the Minnesota Court of Appeals was important because it affirmed the right to sue a Minnesota city, township, or other municipality. In the case, Washington County sued the City …
READ MORE →The federal Family Medical Leave Act (FMLA) provides that if an employer violates the FMLA, the employee may be entitled to “liquidated damages”. Liquidated damages are in essence a penalty, are in …
READ MORE →Employers Must Promptly Pay Wages to Ex-Employees Minnesota Statutes require that employees be paid promptly upon the termination of their employment. The actual date that payment must be made depends …
READ MORE →This is an overview of the steps involved in starting an herb business in Minnesota: Form an LLC under the business name you pick (we charge a total of $620 for this) Obtain an EIN number for the LLC: …
READ MORE →In this video, you get answers to these questions about separation agreements, also known as severance agreements: What is a severance agreement? What questions should you ask before signing a …
READ MORE →Paying Overtime – Minnesota Law The Minnesota Fair Labor Standards Act requires employers to pay overtime for all hours worked over 48 per workweek, unless the employee is exempt under Minnesota …
READ MORE →Pregnancy Discrimination Pregnancy itself can be an exciting, stressful, overwhelming experience. It also creates added stress for working women who have to decide how to tell their employer they are …
READ MORE →Just because you are legally owed money, doesn’t mean it is easy to get that money. You have probably heard the saying, “you can’t squeeze blood from a turnip.” If the debtor has no money and no …
READ MORE →If you have a judgment you are trying to collect, and the debtor has funds at a bank or other financial institution, you may garnish the debtor’s account. Obtaining the judgment and finding out where …
READ MORE →Once you have a judgment against a non-paying debtor, it may be time to garnish his or her wages. Step 1: Serve Notice of Garnishment You must serve the debtor with a Garnishment Exemption Notice and …
READ MORE →Attempting to collect a debt can be difficult, even when you already have a court order showing that the debt is owed to you. Not every debtor will pay a debt simply because a court has ruled he or …
READ MORE →Choosing the Form of Business Organization: Tax and Non-Tax Considerations Introduction One of the fundamental initial decisions a new business owner faces is choosing the form of organization for the …
READ MORE →If you are a creditor attempting to collect a debt, but the person owing the debt is refusing to pay, there are legal remedies available to you. First, you must initiate a lawsuit and obtain a …
READ MORE →Is a creditor, if you request an Order for Disclosure from a court ordering the debtor provide you with information about the debtor’s assets, but the debtor doesn’t obey the court, you are not done. …
READ MORE →The first step to collecting a debt owed is obtaining a judgment from a court. Once you have a judgment, you can begin the collection process. If the debtor does not automatically pay, you will have …
READ MORE →Cease and desist letters may be useful in a number of circumstances including Defamation, Slander, or Libel Trademark Infringement Copyright Infringement Patent Infringement Breach of Contract …
READ MORE →Watch this video before you send a Cease and Desist Letter: In this video, you get answers to these questions: What is a cease and desist letter? When should I send one? Who can send one? How …
READ MORE →