When you want to buy a home or transact with another business for products and services, you may enter into a legal agreement or contract. Doing this protects your interests and sets out a framework for the terms and conditions of the arrangement. What happens when...
Business Law
FAQs about business valuation
Whether you are getting your estate plan together or have thought about selling your Oregon business, the topic of business valuation has probably come up a time or two. If you are unsure where to start, here are some common questions about business valuation. What is...
How to handle issues with vendors
An issue with a vendor can easily turn into a bigger problem. You should take steps to handle the situation as soon as possible. The best course of action is to keep the lines of communication open as this is often enough to resolve any issues and prevent...
Pros and cons of having an LLC taxed as an S Corp
When you launch an Oregon business, you have options when it comes to how you incorporate it. Different business structures offer different benefits and drawbacks, and many people in your shoes find themselves wavering back and forth between establishing a limited...
3 ways an S corp is different from a C corp
S corporations are very similar to C corporations in terms of their setup and the protection they provide against personal liability for business debts. The main differences between the two are the tax advantages that an S corp offers, and even these are not as...
Should you set up your new firm as a limited liability company?
Perhaps you are ready to launch your new consulting firm and are contemplating different formats. If you want the most protection for your business, why not consider establishing it as a limited liability company (LLC)? Similar but different Many people consider the...
Do you have to have earnest money?
Earnest money is a great way to let a seller know your interest in a property. It is like a promise that you will buy. Putting down this money is not a requirement, but if it is a seller's market, then it can go a long way toward helping you get the home you want....
What to know about forming a partnership
If you want to start a business, there is a good chance you are thinking about taking on a partner. Having a business partner can help with start-up costs, reduce individual liabilities and divide the work responsibilities. However, not every partnership is...
Is your hobby a business to the IRS?
Both the federal government and Oregon have guidelines for determining the differences between a business and a hobby. The classification of your income-earning activity affects which tax form you should fill out and whether you can take certain deductions. Not for...
What are the statute of limitations for contracts?
All debts have a timeline of when they're enforceable in Oregon. Creditors can use the courts to force payment during that period. The statute of limitations is different depending on which type of debt it is. Types of debt include an open-ended account, promissory...