When registering your business, deciding whether to choose LLC status or to be classified as an S Corp can have far-reaching implications for taxation and liability. If you ultimately choose an LLC structure, it’s important to know that you can elect to have your LLC...
Business Law
What is double taxation?
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Feb 22, 2024 | Business Law
When a business is set up as a C Corp, this refers to the IRS code. This business would be registered under subchapter C of that code, which is the default position for many businesses. It can grow at an unlimited rate, and it is an independent legal entity. However,...
Plan to avoid these S-corporation tax issues
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Jan 9, 2024 | Business Law
A Texas company set up as an S-corporation typically passes income through to its shareholders, who claim the income on their personal tax returns. However, S-corporations can still be affected by taxes due to regulations that dictate how they must do business, and...
Discussions to have when founding a startup
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Jun 14, 2023 | Business Law
As you and your business partners launch a new company in Texas, you likely understand that you need a solid founders' agreement. This contract forms the nuts and bolts of your business structure, operational control and ownership percentages. To shield you and your...
A guide to corporate bylaws in Texas
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Jan 20, 2023 | Business Law
A Texas corporation should have corporate bylaws to operate efficiently. This set of documents help to prevent disputes and provide guidance on the running of the business. Understanding corporate bylaws Bylaws are a set of rules, regulations and procedures that...
What are the most common types of business lawsuits?
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Dec 23, 2022 | Business Law
Owning a business in Texas or anywhere else is exciting and carries great responsibility. Although you want to protect your company and hold it to the highest standards, certain situations can result in a lawsuit. Below are the most common types of business lawsuits....
Texas LLC operating agreement preparation essentials
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Nov 10, 2022 | Business Law
No matter what type of structure you want, an operating agreement is a reasonable consideration. Therefore, if you're starting your limited liability company in Texas, you should know about operating deals. Do you have to have an operating agreement? With an operating...
Organize your business by avoiding a few common mistakes
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Aug 29, 2022 | Business Law
As a small business owner in Texas, you could have several responsibilities throughout the course of the week, especially if you don't have employees. While performing your tasks, it can sometimes be easy to make a few legal mistakes that could impact your business in...
3 reasons you shouldn’t use cryptocurrency as compensation
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Apr 20, 2022 | Business Law, Tax Law
It’s becoming more common to use various cryptocurrencies as a form of payment. Some Texas residents like shopping online with cryptocurrencies while other people keep their crypto wallets as investments. There are even some employees who prefer to be paid in...
Buying a small business in Texas
On Behalf of Blazier, Christensen, Browder & Virr, P.C. | Mar 8, 2022 | Business Law
Buying an existing small business in Texas can be a great way to jump-start your entrepreneurial journey without going through the challenges of starting from scratch. Here's the information you need to make a smart and successful purchase. Texas laws Texas laws on...