Maxwell Dunn’s Business Law Blog

One in four small businesses struggles with cash flow. Cash flow problems can lead to a bankruptcy filing even for profitable companies, where the business simply does not have the cash to pay their debts as they come due, even if they have more assets than liabilities. Unfortunately, being unable to pay current obligations is […]

Businesses face a variety of legal requirements and must comply at any given minute. Failure to follow specific laws or procedures can put your business in hot water with taxing authorities, civil rights entities, unions, and more. While your policies and practices may have been in compliance when they were implemented, legal requirements change over […]

If your business has been operating in the red for months or years on end, it may be time to consider bankruptcy. Generally speaking, there are two bankruptcy options for small businesses that are considering bankruptcy: Chapter 7 and Chapter 13. Some small businesses may also want to consider Chapter 11 bankruptcy, but that particular […]

Buying an existing business can be a bold move that pays off, or it can be the biggest risk you’ll ever take. There are many unknowns in purchasing a business that is already up and running. We understand that the entire process can seem intimidating and overwhelming. However, if you scrutinize the situation and take […]

When it comes to the IRS, the adage that it’s easier to ask for forgiveness than permission can have costly repercussions. Luckily, the IRS does offer a method whereby taxpayers can ask permission before they take a contemplated step that might later require forgiveness (which would rarely be forthcoming). These are known as private letter […]

Every business wants to make a profit. Incorporating smart practices that eventually become habits can help you increase your profit margins in a significant way. To get the new year started off right, put the following habits into place now and make 2018 you and your business’s best year yet!     Create and Maintain a Budget […]

With the new year comes all kinds of exciting new possibilities. If you want 2018 to be your best year yet, you should start considering what you can do now to improve profits, internal procedures, and efficiencies. Below are just a few tips to get you started.     Consider where to invest in your business. While […]

You should periodically take the time to examine your business’s financial health, and the end of the year is a great time to make it happen. Understanding where you stand from an economic perspective is the only way that your company can fix problem areas and steps toward growth. If you are planning a big […]

Small business owners put a lot on the line for their business. They often invest their life savings or put up personal collateral to get the venture off the ground. Slow times in sales can be terrifying in these situations. Small business owners may start to panic and start thinking about extremes, like bankruptcy. Take […]

Taking a good long hard look at your financial statements can be extremely beneficial in getting a realistic picture of where a company is heading from a financial standpoint. Specific “red flags” in your finances can easily be spotted in your monthly or annual financial statements. You just have to know what you are looking […]