Don’t summarily quit your day job.
Maybe you’re simply eyeing new pursuits and challenges after a long and successful career as a business owner. Alternatively, it might be the case that health issues or some other family considerations are now weighing heavily on your mind. Perhaps you are looking with acute appreciation at the energies and talents of younger family members and feel that now is the right time to react accordingly.
Last year, the Tax Cuts and Jobs act brought dramatic changes for businesses around the country. Significantly, it slashed the corporate tax rates to a mere 21 percent and introduced a qualified business income deduction for pass-through entities. As a result, many companies have considered changing their structure to take advantage of these corporate tax breaks.
It would be hard to overestimate the stark employee-linked challenges that company principals face every day. Business owners across the Washington, D.C., metro area and the rest of the country know from hard experience that worker-related issues are often apex concerns. We stress on our business law website at the Northern Virginia business law firm of David, Brody & Dondershine that they “can be extremely complex legal matters.”
Here’s a quick – and we think definitive – answer to today’s above-posed blog post query: lots.
We note at the Northern Virginia law firm of David, Brody & Dondershine that our seasoned attorneys “provide comprehensive corporate law and business formation services.”
Intellectual property in a business context is an apex concern for most entrepreneurs and established commercial principals, for obvious reasons.
There is unquestionably much about business that is complicated, with one outsized challenge being continually spotlighted by the nuances of employer/worker relations and interactions.
A successful business is one that understands its role today and its future growth. Even if a business is similar in nature to its competitors, it has its own business plan and a business model chosen to fit those ambitions. Depending on size and services, popular choices are limited liability companies, partnerships and incorporation.
It is of course not a requirement for any business visionary to demand that his or her commercial creation change the world in some positive way. Legions of entrepreneurs engaged in start-up enterprises, as well as more established business owners, are driven largely – or even solely motivated – by a profit-focused mindset.