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 …
Buy Sell Insurance vs. Key Man Insurance: Understanding the Difference and Importance for Your Business
Starting a business can be an exciting yet daunting experience. While focusing on the business strategies, legalities, and overall growth of the company, the importance of protecting the business from unforeseen circumstances can often be forgotten. This is where insurance comes in, specifically Buy Sell Insurance and Key Man Insurance. In this blog post, we will explore the difference between …
Corporate Transparency Act: What is a Reporting Company Applicant?
In January of 2024 FinCEN will require businesses to report beneficial ownership, as outlined in the Corporate Transparency Act. The legislation includes the term ” Reporting Company Applicant.” But what is that exactly, and how does it fit into this new law? This article will explore what a Reporting Company Applicant is, and how it relates to the Corporate Transparency …
Corporate Transparency Act: Possible Exemptions
The recent coming of the Corporate Transparency Act has brought a new issue to the forefront of the business and legal world. The act requires certain businesses to report the beneficial ownership of their companies to the Financial Crimes Enforcement Network (FinCEN). However, there are a few exemptions to reporting, and this blog post delves into what some those exemptions …
The Corporate Transparency Act and New Mexico Citizens
Recent changes in federal legislation will result in a new status quo for New Mexico business owners. The Corporate Transparency Act goes into effect nationally on January 1st, 2024. This act will require businesses to report their beneficial owners. This post will explore when a report is necessary, what to include and and who to report to. Who is Considered …
Professional Licensing & Licensure: How an Attorney Can Help
Being a licensed professional not only demonstrates an individual’s expertise in their field but also helps to assure clients that they are working with a competent and qualified professional. The process of obtaining a professional license, however, can be arduous and confusing. For some individuals, it may require various examinations, education requirements, and years of supervised experience. This is where …
