Attorney Larry Donahue explains why the process in correct reporting is not as easy as some might think. Earlier this month, Larry Donahue presented a seminar at the request of the New Mexico State Bar Foundation in order to help educate small businesses on the new Beneficial Ownership Reporting that, as of January 1, 2024, is the law of the …
Navigating Commercial Leases: Top 5 Considerations for Entrepreneurs and Business Owners
When venturing into the world of commercial real estate, signing a lease can be one of the most significant commitments an entrepreneur makes. Unlike residential leases, commercial agreements come with their own set of complexities and negotiation nuances that, if not carefully addressed, could lead to unforeseen challenges down the line. As a business owner, it’s imperative to approach this …
Strategies for Dealing with Employees Who Abuse Paid Time Off
Paid time off (PTO) is an essential benefit that employees greatly appreciate. As a business owner or manager, offering PTO is vital for keeping employees happy and motivated. However, some employees tend to take advantage of paid leave days, which can lead to negative consequences for both the company and coworkers who have to pick up the slack. In this …
Find Out If Your Business Needs to Report to FinCen in 2024.
BLSW has the technology to give you a definite answer, for free, in minutes. The Corporate Transparency Act, or CTA, went into effect on January 1st, 2024. It requires “beneficial owners” of “new” (formed on 1/1/2024 or after) “small businesses” (less than 500 employees and US-revenue under $5M) to report the personal information to the Financial Crimes Enforcement Division of …
Free Webinar To Learn About the New Law That Will Effect Small Businesses in 2024.
The Corporate Transparency Act goes into effect on January 1, 2024. The new law requires “beneficial owners” of businesses to report their information to FinCEN. Failure to do so in a timely manner is punishable by daily fines and possible jail time. Business Law Southwest Attorney Larry Donahue will be hosting this webinar in conjunction with Albuquerque SCORE. About the …
Essential End-of-Year Considerations for Business Owners
As the end of the year quickly approaches, it’s imperative that business owners are taking the necessary steps to close out the year on a high note and prepare for the upcoming year. Successful business owners know that taking the time to reflect, evaluate and strategize at the end of each year is crucial to maintain the growth and sustainability …
What is the Difference Between an Asset Purchase and a Share or Membership Purchase?
If you are a business owner interested in purchasing or selling a company, it is essential to understand the different types of transactions available. Two of the most commonly used types are asset purchase and share or membership purchase. While they may seem similar, there are significant differences in how they work and the outcomes they produce. This post will …
Business Law Southwest Named a 2024 Platinum Family Friendly Business
Business Law Southwest was named a 2024 Platinum Level Family Friendly Business by NMfamilyfriendlybusiness.org Here’s what you should know about NMfamilyfriendly.org. Mission: Family Friendly New Mexico’s mission is to recognize and support employers that adopt and implement family friendly policies so that businesses, employees and their families can thrive. Vision: Family Friendly New Mexico envisions that all New Mexican workers are able …
How Does Seller Financing Work When Buying or Selling a Company?
Buying or selling a company can be a complicated process, and the financing options available can make all the difference. One financing option that’s gaining popularity, especially for small to medium-sized businesses, is seller financing. This arrangement involves the seller financing part or all of the sale price of the business, rather than relying solely on a third-party lender. In …
Changes in Ownership: Addition and Removal
As your business grows, it may become necessary to add or remove owners from your company. There can be various reasons behind this decision – whether it be for financial reasons, personal reasons, or simply to bring on a new partner. However, this process can be tricky and it’s important to know the proper steps to take to ensure a …
