S-CORP TAX ELECTION: IS IT RIGHT FOR YOUR LLC?
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As an attorney who happens to have an MBA and some specific tax law knowledge, and one who advises businesses on both day to day issues and tax matters, I know that if you’ve chosen (or will choose) an LLC as your business structure, it’s likely due to some combination of the liability protection an LLC offers, the operations and internal organization flexibility it allows, and the tax advantages which can accompany it. One of those tax advantages of an LLC can be the election to be taxed as an “S-corp.”

Keep in mind that, as we’ve previously discussed, one does not really “form an S-corp.” – this a tax classification, not a type of business organization. Once a corporation is formed, the...

Find the full article at https://mcgrathspielberger.blogspot.in/2018/01/s-corp-tax-election-for-llc.html

Arbitration is sometimes referred to as ADR, which stands for alternative dispute resolution. Simply put, it is a legal procedure in which an unbiased third-party attempts to settle a dispute outside of court. In this two minute video, Attorney Jason A. McGrath of the McGrath & Spielberger law firm discusses the logistics of...

Find the full article at http://mcgrathspielberger.blogspot.in/2017/11/arbitration-provisions-law-venue-video.html

As a business law attorney who handles business contract issues on the front end (business contract drafting, analyzing, etc.) and the back end (business law disputes), I’m always mindful how a legal agreement addresses the possibility of the “prevailing party” recovering attorneys’ fees and other legal type costs. This Part 2 addresses some of the factors and strategies which should be considered in deciding which option may be best for your situation. Part 1 addressed four (4) different ways to approach the costs and fees issue in a business to business contract.

1.    The “prevailing party” in the business to business contract dispute can recover legal costs and fees, including attorneys’ fees. Why might – or might not – you want this in your company’s contracts?

One perspective is that...

Find the full article at http://mcgrathspielberger.blogspot.in/2017/10/business-contracts-what-should-yours.html

As a business law attorney who handles business contract issues on the front end (business contract drafting, analyzing, etc.) and the back end (business law disputes), I’m always mindful how a legal agreement addresses the possibility of the “prevailing party” recovering attorneys’ fees and other legal type costs. Below I list four (4) different options; the second part of this article will address some of the factors and strategies which should be considered in deciding which option may be best for your situation.

1.    The “prevailing party” in the business to business contract dispute can recover legal costs and fees, including attorneys’ fees. This concept is pretty straightforward. However, when put into actual practice, identifying the “prevailing party” can be complicated. Further, the costs and fees at...

Find the full article at http://mcgrathspielberger.blogspot.in/2017/09/business-contracts-what-should-yours.html

Consumer Reports: Beware of Self-Help Legal Websites for Wills and Other Legal Documents originally published Friday, September 28, 2012, Updated.
The September 2012 issue of Consumer Reports reported that documents generated by certain self-help legal websites could lead to unintended consequences. Unfortunately, this still seems to be the case five years later in 2017.

Consumer Reports used the self-help legal websites to create a last will and testament, a residential lease, a promissory note and a bill of sale. These legal documents were then examined by three law professors in a blind test. The professors found, amongst other issues, that...

Find the full article at http://mcgrathspielberger.blogspot.in/2017/08/consumer-reports-beware-of-self-help.html