When confronted with this question, I usually respond with, “Please ask that question to your CPA or Accountant.” After all, a good CPA or Accountant, who understands the needs of your business, is going to be able to make a good recommendation and help you minimize your tax exposure (legally). Read more in this article, Accountants vs. Lawyers: Using the …
Congratulations, Jake Goldsmith!
We are pleased to announce the newest member of the Slingshot Team, Jake Goldsmith! Jake is a graduate of the University of New Mexico School of Law and was admitted into the New Mexico Bar in 2019. Practice Areas Jake’s practice areas are Business Agreements, Business Formations, Buying and Selling Businesses, Commercial Transactions, Limited Liability Companies (LLC), Mergers & Acquisitions, Non-Compete Agreements, …
Moving your business to a different state
When moving to a different state, the process involved in moving your business along with you can be stressful if not completely confusing. There are many reasons to not merely shut down the existing company and start a new one. You typically have two options, or possibly three options, depending on the state your company is organized in and the …
Lease to Own Agreements
When it comes to real estate, lease to own agreements sound like a great idea when you may not have a large down payment available, or you are unable to secure a mortgage. Oftentimes, you anticipate the ability to come up with a large down payment down the line, but you want to purchase a property now. If that’s the …
Business Tips: Building Your Business and Avoiding Halting Debt (Pt. 1)
The saying, “It takes money to make money” generally is true. It might be safer to say that it takes some risk to earn some reward. Most who want to start a business in New Mexico are looking to create financial stability, not to acquire insurmountable debt. Therefore, it is crucial not to fall to into the trap of spending …
The Law and Alcohol Based Businesses
Mark Johnston, a California businessman, racked up half a million dollars in gambling debt over the course of two days. That news would likely be upsetting to anyone; however, Mr. Johnston is taking a different approach to dealing with his sky-high debts. His argument is that he should not be held accountable for the debt, and he is suing the …
Is Franchising Right For Your Business?
You have fought hard for the success of your business. You have dealt with the financial and personal stresses that come along with owning your own business. Finally, things are going very well and you are thinking about franchising.
What Restrictions are there to Offering Ownership Interests to Investors?
In the business world, most ventures are formed with the idea that those involved have a personal investment in the company they formed. Each founder has put some sort of equity into the business, whether it is through funding, labor or intellectual property.
Understanding Different Business Entities: LLC vs. Inc.
Knowing how your business entity should be formed is the first step to running a successful company. You may have questions about what a Limited Liability Company (LLC) is or why you might want to consider forming a corporation. You may also have questions about what is best for your company. This week, we’ll focus on the LLC and Corporations …
Business Formation Options
Congratulations, you’re ready to start your own business! You have your idea, your location, your funding, and possibly a business plan to get it all together. But, first things first–you’re going to have to plan how you want your business to be organized for tax purposes, accounting purposes, and most importantly, for liability purposes. So which business formation structure best …
