Category Archives for Business
In an Accident, How Do People Get Your Health Care Directive?
Introduction In this video, you will get answers to these questions: If you are in an accident how do people get your healthcare directive? What is a health care directive? What are the steps you can take for family and friends to have access to your health care directive? Video Transcript If you’re in an […]
Continue readingWhy do Lawyers Use Legalese?
Introduction In this video, you get answers to these questions: Why do lawyers use legalese? What are two reasons why lawyers will use legalese? Video Transcript Why do lawyers use legalese? That’s the question I’m going to answer today. I’m Aaron Hall, an attorney for business owners in Minneapolis, Minnesota. All right. You might be […]
Continue readingRecoupment: One Term Every Artist Should Know
Introduction In this video, you will get answers to these questions: What is one term every artist should know: Recoupment? What is recoupment? Why is recoupment so vital for an artist? What is a general rule when signing a business contract? Video Transcript What is one term every artist should know? Recoupment. I’m Aaron Hall, […]
Continue readingThe Difference Between an EIN, Tax ID, and Social Security Number
Introduction In this video, you will get answers to these questions: What is the difference between an EIN, Tax ID and a Social Security? What is an EIN Number? What is a Tax ID Number? What is a social security number? How does the IRS know there is an audit needed? Video Transcript What’s the […]
Continue readingWhat is the Court of Equity?
Introduction In this video, you will get answers to these questions: What is the court of equity? What is the history of the court of equity? How is the court of equity used today? What does it take to be an effective litigator? Video Transcript What is the court of equity? That’s what I’m […]
Continue readingWhat is Good Cop, Bad Cop?
Introduction In this video, you will get answers to these questions: What is Good Cop, Bad Cop? How do you use good cop, bad cop in a negotiation? What are some examples when used by lawyers? Video Transcript What is good cop, bad cop? That’s the question I’m going to answer today. I’m Erin Hall, […]
Continue readingAre Rent to Own Homes a Good Deal?
Introduction In this video, you will get answers to these questions: Are rent to own homes a good deal? Should you as a tenant consider renting to own? Should you as a landlord offer this option to your tenants? Where do problems arise in a rent to own agreement? Video Transcript Are rent-to-own homes […]
Continue readingWhat is a Chinese Wall in a Contract?
Introduction In this video, you get answers to these questions: What is a Chinese wall in a contract? What is an example of a Chinese wall in a contract? What is another name for a Chinese wall? Video Transcript What is a Chinese wall in a contract? I’m Aaron Hall, a business attorney in Minneapolis, […]
Continue readingHow Do You Buy Out a Partner from a Business?
Introduction In this video, you get answers to these questions: How do you buy out a partner from a business? Why is it vital to have an agreement about how the transition is handled? What is a buy/sell agreement? – Can this apply to an LLC and a Corporation? How do you buy out a […]
Continue readingCan I Pick a Business Name if a Similar One Already Exists?
Introduction In this video, you get answers to these questions: Can I pick a business name if a similar name already exists? Where do you go to register your business name? What are the important considerations when picking a business name? What is trademark delusion? What is trademark infringement? Video Transcript Can I pick […]
Continue readingFor My New Business, What Address Should I Use?
Introduction In this video, you get answers to these questions: For my new business should I use my home address, PO Box or something else? Which address should the business use? Does a P.O. box work in Minnesota for your legal address for registration? What if I don’t want to use my home address? What […]
Continue readingAm I personally liable if my LLC breached a lease agreement?
Introduction In this video, you get answers to these questions: Am I personally liable if my LLC breached a lease agreement? What if you breach the lease agreement? What happens when an LLC breaches a lease and has no resources? Have you signed a personal guarantee? Video Transcript Am I personally liable if my LLC […]
Continue readingQuid Pro Quo?
Introduction In this video, you get answers to these questions: What is the definition of quid pro quo? What does quid pro quo mean? Video Transcript What is a quid pro quo? What does quid pro quo mean? That’s what I’m going to answer today. I’m Aaron Hall, an attorney in Minnesota. Quite simply, quid […]
Continue readingCan I sell my chair rental salon – Is it worth anything?
Introduction In this video, you get answers to these questions: Can I sell my chair rental salon, is it worth it? What is the business worth? What is involved in selling a salon business and renting chairs? Video Transcript Can I sell my chair rental salon – Is it worth anything? Those are the […]
Continue readingCorporate Practice of Psychology – Can a Clinic be Owned by Non-Psychologist?
Introduction In this video, you get answers to these questions: What is the corporate practice of psychology? What is the Professional Firm Act? Who should own a psychology clinic? Video Transcript Is the corporate practice of psychology legal in Minnesota? That’s the question I’m going to answer today. I’m Aaron Hall, a business attorney […]
Continue readingWhat Are the Tax Advantages of Having a Business vs Running an Operation as an Individual?
Introduction In this video, you get answers to these questions: What are the tax advantages of having a business vs. running an operation as an individual? Do you want to set up a business or company, or should you operate out of my own name? What are the tax advantages and disadvantages? What do you […]
Continue readingHow to Get Paid
Introduction In this video, you get answers to these questions: Have you ever had to wait for a large sum of money? What is a promissory note and confession of judgment? Have you agreed to extend payment terms with someone? Video Transcript I’m Aaron Hall, an attorney in Minneapolis, Minnesota. Have you ever had this […]
Continue readingIf My Business Fails and I File Bankruptcy, How Will It Affect My Credit?
Introduction In this video, you get answers to these questions: If my business fails and I file bankruptcy how does this effect your credit? What happens if the business fails? What if the business files for bankruptcy? What is a personal guarantee? Video Transcript If my business fails and I file bankruptcy, how will […]
Continue readingBusiness Owners Tips for Tracking Income & Expenses For Taxes
Introduction In this video, you get answers to these questions: What is the best way for business owners to keep track of the companies income for tax purposes? How can you keep it simple when tracking expenses? What do you need to keep for IRS purposes? What are the four categories you need to track? […]
Continue readingWhat Money Do You Pay Taxes On When Selling Products?
Introduction In this video, you get answers to these questions: What money do you pay taxes on when you are selling a product? How do I determine what my tax liability is? How can you figure out what you owe in taxes? Video Transcript What money do you pay taxes on when you’re selling a […]
Continue readingTaxes on Shipping and Handling
Introduction In this video, you get answers to these questions: As a business owner do you have to pay tax on money you receive from shipping and handling? What are you paying taxes on? What do you need to deduct? What do you pay income tax on? Video Transcript As a business owner, do you […]
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New 2019 Laws for Minnesota Employers & Employees
Guidance for Employers on Minnesota’s New Wage Theft Law The Minnesota Legislature passed and the governor has signed a new Minnesota Wage Theft Law. The new law amends existing state labor laws and provides for new wage and hour requirements, protections and sanctions. This guidance highlights provisions of the new law that will require employers […]
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How a Special Litigation Committee Protects Minnesota Companies
Setting up a Special Litigation Committee (“SLC”) is a great way to deal with a conflict of interest in a company. A Special Litigation Committee allows the company to keep control of legal claims and address issues in a way that puts the best interests of the company first. The main idea behind a Special […]
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Accidental Partnership: Are You in a De Facto Business Partnership?
Overview This story illustrates how two entrepreneurs can accidentally find themselves in a partnership. A partnership doesn’t need to be registered with the state. A partnership can begin whenever two or more people carry on as co-owners a business for profit. Story Amber and Jen discussed opening a business together. They never established a […]
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How the ‘Business Judgment Rule’ Protects Directors and Officers
If you are an officer or director accused of making a bad decision, the “business judgment rule” is an important defense to understand. Directors and Officers Owe a Duty of Care In general, directors and officers of a corporation (including nonprofit organizations) owe the corporation a duty of care. This “duty of care” means you […]
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Registered Agent: A Physical Office for Your Business
Every Minnesota business needs to have an address on record with the Secretary of State. This is called the registered office. Instead of providing a physical address, you can use a registered agent service. This article explains the details. What a registered office? A registered office is the address for your business on record with the […]
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What’s at the End of Your Business Name Besides INC or LLC?
When you name your LLC or corporation, you need to decide which entity designation to include at the end. For example, “Angie’s Plumbing” might become “Angie’s Plumbing LLC” to indicate Angie’s Plumbing is a limited liability company. This page lists the entity designations when starting a business in Minnesota. Corporation In Minnesota, a for-profit corporation may […]
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Minnesota Private Attorney General Statute: Get Attorney Fees Back
What is a private attorney general statute? A “private attorney general” statute authorizes a court to award attorney’s fees to a party that hires a private attorney to address an injustice that harms the public. This is a big deal. For example, when the state attorney general’s office will not take action to stop harm […]
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5 Tips to Delegate and Elevate Your Leadership Team
If you’re running EOS® (the Entrepreneur’s Operating System) in your business, you have experienced firsthand how beneficial it can be to your company’s growth. Like all learning tools and systems, to really gain strong traction, the challenge lies in supporting your team on the ground level with the day-to-day execution and implementation of EOS principles. […]
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Minnesota Charity Law: Guide for Nonprofit Board of Directors
Guide for Charity Board Members This Guide is provided by the Minnesota Attorney General’s Office to assist board members with the important responsibilities they assume when elected to a nonprofit corporation’s board of directors. It is only a guide and is not meant to prescribe exactly how board members must act in all situations. Each […]
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