Blog

Can Your Small Business Write Off Bad Debts
Business Planning
Taylor Darcy

Can Your Small Business Write Off Bad Debts?

Despite your best efforts to work only with customers or clients you believe will pay for the goods or services your business provides and to diligently collect delinquent amounts owed, you will almost inevitably have to deal with bad debts occasionally. Sometimes, the IRS allows you to take a bad

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4 Reasons to Consider Changing Your Business Structure
Business Formation
Taylor Darcy

4 Reasons to Consider Changing Your Business Structure

As your small business expands and evolves, it may make sense to consider changing its structure. Many small businesses start as sole proprietorships or partnerships, with only one or two owners and no employees. Over time, as your business grows and changes, a more complex business structure may become beneficial.

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Summer is Here Should Your Small Business Have a Vacation Policy
Business Planning
Taylor Darcy

Summer is Here: Should Your Small Business Have a Vacation Policy?

There is no legal requirement for businesses to offer paid or unpaid vacation time to employees, but it is common knowledge (and common sense) that employees who occasionally take time off are more productive and engaged when they return to work. If you offer vacation time to your employees, a

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What You Need to Know About Non-Compete Agreements for Your Employees
Business Planning
Taylor Darcy

What You Need to Know About Non-Compete Agreements for Your Employees

A small business that has invested substantial resources in developing a product or a customer base could be devastated if its employees then go to work for a competitor down the street or set up their own competing business.  A non-competition agreement is an important tool that could protect your

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Business Planning
Taylor Darcy

Steps to Protect Your Small Business from Non-Paying Customers

Unfortunately, most businesses must deal with non-paying customers at least occasionally. You can safeguard the time and money you have invested in your small business by taking several steps, both to lessen the likelihood of nonpayment and to obtain the amount owed once a customer has failed to make a

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Business Planning
Taylor Darcy

Legally Terminating Employees

Most small business owners will occasionally have to face the unpleasant task of firing an employee. Small businesses rely heavily on each employee. An underperforming employee may not only lower the morale of other employees who have to pick up the slack, but may also jeopardize the success of the

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Business Planning
Taylor Darcy

Does Your Small Business Need a Social Media Policy?

According to 2018 data provided by SCORE, the largest provider of volunteer business mentors in the United States, 77% of U.S. small businesses use social media for their sales, marketing, and customer service. If you plan to usesocial media to promote your business, a social media policy is essential to

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Business Planning
Taylor Darcy

Business Insurance: Protecting Your Business from Unexpected Losses

As a small business owner, you have invested large amounts of time and money to make your business a success. Business insurance protects this investment if unexpected damage to property occurs or lawsuits, which could otherwise devastate to your business. There are many types of insurance available depending upon your

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Business Planning
Taylor Darcy

What Counts as “Hours Worked” Under the Fair Labor Standards Act?

If your small business has non-exempt employees covered by the Fair Labor Standards Act (FLSA), you must pay those employees under its minimum wage and overtime requirements for all “hours worked.” This may seem like a simple requirement, but figuring out what is considered “hours worked” may be more complicated

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Business Planning
Taylor Darcy

Independent Contractor or Employee: It’s Very Easy to Cross the Line

Many businesses prefer to hire independent contractors because there’s often less overhead and fewer expenses (i.e., taxes). However, classify an employee as an independent contractor, and you’re in big trouble. Here’s how to legally differentiate between the two. Who Controls the Worker?  This question can be challenging to answer.  According

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