Maxwell Dunn’s Business Law Blog

Budgeting for your business is a lot like budgeting for your household. However, the stakes are very different. If your budget is off, you run the risk of operating in the red. Running your business at a loss will eventually lead to closing your doors. One of the first steps in creating a successful business […]

You may have heard the saying that there are two things that are certain in life: death and taxes. This old adage may not be true in some situations. Under certain conditions, you can discharge tax debts by filing bankruptcy. However, your tax debts must meet particular qualifications to be discharged. Tax Treatment Under Chapter […]

Mergers can be both exciting and very difficult. They often represent expansion and new people with ideas. However, getting the process wrong can lead to serious problems that can undermine your business as a whole. The merger process requires getting even the smallest details just right so the transition can be as smooth as possible. […]

Chapter 12 bankruptcy offers a unique way to handle debts for those who are considered “family farmers” or “family fishermen.” It allows those who farm or fish for the majority of their income to develop a payment plan to repay all or part of their debts. Essentially, it will enable you to develop a three […]

Being involved in a lawsuit as a small business can be frightening. It can put your entire business at risk if you are not properly protected. While you should certainly invest in insurance and other risk-minimizing measures, you can take steps to help your company avoid lawsuit long before they become a real threat. Use […]

The Servicemembers Civil Relief Act (SCRA) provides those in the military with certain protections in civil actions. Specifically, it “pauses” many types of civil claims so that servicemembers can focus their attention and efforts on serving our country. That means that it specifically applies to those on active duty or who have been deployed. One […]

If you are considering purchasing a business, you have some homework ahead of you. You need to do some digging to ensure that you are spending your money wisely and that the company is a good investment. Asking the right questions now can go a long way toward learning whether this particular business is the […]

Your bankruptcy will stay on your credit report for up to ten years. While that fact may seem daunting, you can make smart choices in other areas to increase your credit score and counteract the bankruptcy listing. The bankruptcy will also have less of an impact over time as well. Use the following tips and […]

Traditionally, Chapter 13 bankruptcy is for individuals. Most businesses will not be able to file Chapter 13. Instead, they will use either Chapter 7 for a liquidation or Chapter 11, which is specifically targeted toward businesses. However, there are situations where small businesses may still qualify to use Chapter 13. When Can a Small Business […]

When you are on the edge of filing for bankruptcy, your credit score could likely use some work. Getting behind on payments and having amounts in collections is horrible for your credit, but for many people that are considering bankruptcy, there is little they can do to meet their monthly obligations. Bankruptcy does harm your […]