The basics, in plain English.

Guide 1 · 4 min read

LLC or corporation? A plain-English starter

The two most common choices for a small business, what actually differs, and why the tax question is a separate one.

• Both an LLC and a corporation can separate business debts from your personal assets when they're set up and run properly.
• LLCs are usually simpler to run: fewer formalities, flexible ownership and an operating agreement instead of bylaws and board meetings.
• Corporations make sense for some businesses planning outside investment or stock for employees.
• S corp status is a tax election, not a company type. An LLC or a corporation can make it. Ask your CPA about timing.
• Whatever you choose, keep business money separate and keep your yearly filings current.

Not legal advice. General information only; rules vary by state and facts matter.

Guide 2 · 5 min read

Seven clauses to read before you sign a vendor contract

The short list of places where small businesses most often take on more risk than they meant to.

• Term and renewal: does it renew on its own, and how much notice do you need to give?
• Termination: how can you get out, and what does it cost?
• Payment: due dates, late fees and what happens if they're late paying you.
• Indemnity: who pays if something goes wrong, and is it one-sided?
• Limitation of liability: is there a cap, and does it protect both sides?
• Governing law and venue: which state's law applies and where any dispute would be heard.
• Auto-pay and price changes: can they raise the price without asking?

Not legal advice. General information only; rules vary by state and facts matter.

Guide 3 · 4 min read

What goes in an operating agreement

Why the free template is a start, and the questions a good agreement answers before owners disagree.

• Who owns what, and whether money put in is ownership, a loan or both.
• How decisions get made, and which decisions need everyone's yes.
• What happens if an owner wants out, dies, becomes disabled or divorces.
• How a departing owner's share is valued and how it gets paid.
• What happens if owners deadlock on a decision that can't wait.

Not legal advice. General information only; rules vary by state and facts matter.

Guide 4 · 5 min read

Buying a small business: the first 30 days after the letter of intent

A practical order of operations for buyers, so the important questions get asked while you can still walk away.

• Line up your lender's requirements and timeline right away.
• Ask the landlord early about transferring or renewing the lease.
• Request the due diligence list: financials, tax returns, contracts, leases, licences, employee terms and any claims.
• Look for contracts that can't be transferred without the other side's consent.
• Keep a running list of issues to price into the purchase agreement.

Not legal advice. General information only; rules vary by state and facts matter.

Guide 5 · 3 min read

Your yearly compliance calendar

The small, boring filings that keep a company in good standing, and how to never miss one.

• Most states require an annual report for LLCs and corporations. Due dates and fees vary by state.
• Your registered agent must stay current. If they move or quit, update the state's records.
• Business licences and permits often renew on their own schedules.
• Keep minutes or written consents for big decisions, even in a small company.
• Put every date in one calendar with a reminder 30 days ahead.

Not legal advice. General information only; rules vary by state and facts matter.