Small Business Succession Planning – Things to Consider

Phillip Christenson / November 6, 2014
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What is Succession Planning? Simply put, succession planning is the process of transitioning key people within a business so that the business can continue to operate after the owner or key executives leave. Think of it as planning for the future of the business so that it can outlive the owners. This process involves a […]

Cyber Attacks: It’s no longer “if” it will happen, but “when” it will happen

Geoff Engelhart / September 29, 2014
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The vast majority of us are not running international, Fortune 500 operations. We are leading, or working with, small to mid-sized businesses. With that comes the false sense of security that cyber thieves aren’t targeting us or our clients. I want to share with you why that presumption is false, and why we are actually […]

Cabin LLCs: The Basics

Jayne Sykora / September 25, 2014
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For many, cabins provide an opportunity to get away from it all, to spend time with family and friends (maybe beside a body of water) and decompress from daily life. Unfortunately, cabins can also cause frustration and confusion as to how families (immediate and extended) will share it and how the cabin can be passed […]

Designating Authority for Business Owners

Jennifer Santini / August 12, 2014
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I know, I know… you have read it over and over again here on Epilawg that it is important to have documents in place for times of incapacity. Yet, as Jayne Sykora and I just attended a conference together, I was reminded of the importance to do so particularly if you own a business. As […]

Non-Compete Agreements

Jayne Sykora / August 1, 2014
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One item that many employers have begun to use extensively with employees is a non-compete agreement. The main goal of a non-compete agreement (“non-compete”) is for an employer to protect its goodwill, trade secrets and confidential information upon an employee leaving that employer and, presumably, working for a competitor of the employer. A non-compete could […]

MN Public Benefit Corporation Act

Jennifer Santini / July 23, 2014
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More and more business owners are incorporating a charitable intent or purpose into their companies. However, many still wish to remain a for-profit business and therefore do not apply for non-profit or tax-exempt status. Recently, the Minnesota legislature and Governor Dayton passed into law the Minnesota Public Benefit Corporation Act, which allows a business to […]

Independent Contractors

Jayne Sykora / July 15, 2014
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Some of the small business clients I work with often want to hire an independent contractor versus bringing on a permanent employee. The use of independent contractors is very attractive to businesses because it can reduce the business’s exposure to employment-related lawsuits and reduce the business’s tax burden (i.e., no income tax withholding, Social Security […]

Basics of Business Formation

Kate Wells / June 11, 2014
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Many Minnesota entrepreneurs are well aware that they need to take steps to limit their potential for liability but are unclear about which type of entity is right for them. This post will outline some of the advantages and disadvantages of entity types and some initial first steps in setting one up. This is intended […]

EB-5 Program: Investor Program to Obtain Path for U.S. Citizenship

Esteban Rivera / May 20, 2014
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As the worldwide economy has collapsed in the past few years, the political environment has deteriorated and the violence has substantially increased in some countries around the world, many wealthy people are trying to find countries that offer a safer environment for them and their families as well as a safer investing territory for their […]

PART II: Cooler Heads Prevail

Joseph Larson / March 3, 2014
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What You Need to Know About Getting Unemployment Benefits There’s no use trying to pretend that it didn’t happen now. As we discussed in my last entry, finding out that you’ve been let go from your job is a shock to the system, but it doesn’t do anyone any good to sit around and mope […]