by Lea Strickland | Aug 5, 2025 | Business Articles, Business Ownership, Legal
Owning and operating a business entails various responsibilities, including tax obligations, payroll management, and loan repayments. Understanding personal liability, including when it arises automatically, when it’s voluntary by agreement, and when it results from...
by Lea Strickland | Jul 31, 2014 | Budgets and Financial Tools, Business Articles, Business Management, Small Business, Start-up
So many businesses are started by the seat of the pants, and with only the basics of knowledge about how to organize and run them. The businesses start spontaneously, with its founders’ limited exposure to various types of organizations and bits of information that...
by Lea Strickland | Jul 31, 2014 | Business Articles, Entrepreneur
All too often, when companies are created there is little thought about what the legal structure of the organization should be. Even when there is extensive counsel with legal advisors, the true consequences and impact of the choice are rarely understood, because the...
by Lea Strickland | Jul 31, 2010 | Glossary
Simplest, oldest, and most common form of business ownership in which only one individual acquires all the benefits and risks of running an enterprise. In a sole-proprietorship there is no legal distinction between the assets and liabilities of a business and those of...
by Lea Strickland | Jul 31, 2010 | Glossary
Type of the US corporate structure in which the firm’s income is passed through its stockholders (shareholders) in proportion of their investment, and taxed at personal income tax rates. S corporations (‘S’ stands for ‘small’) can have...
