Many business owners don’t think much about how a transfer of leadership will occur if they retire or if something happens to them that makes them unable to perform their leadership duties. While it might not be a pleasant thought, getting a succession plan together...
Family-owned businesses are part of the fabric of the U.S. economy. There are numerous benefits to operating a family business, such as having trustworthy people around. However, family businesses aren’t without drawbacks. Family-owned enterprises face a series of...
Starting a new company with your spouse can be an exciting and rewarding adventure. Combining your personal and professional lives can strengthen your partnership and create a shared vision for your future. However, it’s important to approach this venture thoughtfully...
Starting a business is always an adventure – and it can be even better when you’re in it with family members. Family partnerships tend to have a built-in level of trust, shared communication styles, a clear understanding of what each party brings to the equation and a...
One key step in estate planning doesn’t require putting a legal document in place. It simply involves designating beneficiaries for your retirement accounts. Federal employees can also designate one or more beneficiaries for their Thrift Savings Plan (TSP). Federal...
If you're starting a business in Virginia, having a plan is essential if you want to be successful. Knowing where you're heading with detailed guidelines helps ensure you stay on the right path. Examining the top 10 components of a solid business plan is ideal if you...
An LLC operating agreement is a legally binding document that outlines the operations and management of a limited liability company (LLC). It is a crucial document for any LLC in Virginia, regardless of its size or the number of owners. The operating agreement serves...
If you're considering starting a business in Manassas, Virgina, you likely have a few questions. What are the startup costs? What is the tax climate? What is the business climate? What are the business startup costs in Manassas? The cost of starting a business in...
Starting a business with your spouse can be a great way to spend more time together and also create some wealth. However, there are a few things you should keep in mind before taking the plunge. Define your roles well This means sitting down and discussing who will be...
There are a variety of business entities that you can choose from when starting your business. The most common are sole proprietorships, partnerships and limited liability companies (LLCs). Each type of business has its own benefits, so it's important to understand...