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You don’t necessarily need a lawyer to write a contract. You just need a meeting of the minds between you and the other party. Yet a good contract contains a lot of details. For example, it might specify whether you will go to arbitration or court if a dispute arises....
The Paycheck Protection Program (PPP) was part of the CARES Act passed in March. It was meant to provide struggling businesses with relief in the form of Small Business Association-backed loans. The loans are forgivable as long as they were used for specific purposes,...
You may believe the time isn’t right to start a new business. The pandemic and the economic downturn have meant immense changes to the business landscape. At the same time, however, there have been many businesses that have survived and even thrived in this...
It seems simple. You have a court judgment against a vendor or client, but they haven’t paid. Now, it is time to force the issue. Unfortunately, business debt collection can be complex in Texas. People and entities with judgments against a recalcitrant debtor can...
When your business needs cash to survive, you may expect to borrow from your 401(k) account or other savings. This is called “bootstrapping” and it seems like a straightforward, “do or die” solution. Unfortunately, some people may not have sufficient savings to infuse...
If you’re a commercial landlord, these last few months have probably been challenging. Not only are many of your tenants unable to make their lease payments, but some may no longer see a reason to renew. Meanwhile, your expenses haven’t gone down. There may not be...
If you’re planning to sell your business or some of your assets this year, you may want to set up a complex trust. Doing so could eliminate the capital gains you might otherwise be expected to pay. There are a couple of traditional ways to reduce or defer capital...
According to a Small Business Trends survey in July, 92% of small businesses in the U.S. have had to reinvent themselves over the past few months. Are you one of them? If not, your struggling business may need to be next. Where do you begin? It starts with hustle, as...
If you have money to invest in a new business, you may be struggling to find a reliable, profitable venture to invest in. Or, you may have an existing business that has hung on so far but faces serious challenges. In an ordinary year, according to the U.S. Bureau of...
Business was tough enough before the pandemic. Now, many businesses are facing a cascade of troubles. Vendors and suppliers are slow or unable to fulfill their contracts. Your rental properties aren’t paying. Expenses haven’t gone down, but income has dropped off. And...