Can You Use a 1031 Exchange When Selling Both Business Assets and Real Estate?
Real estate other than your primary residence is often considered an investment. When it comes time to sell items held for investment purposes, capital gains taxes are due on any profit. Although Florida does not have income tax and hence no capital gains tax, the federal government (Internal Revenue Service) does. Those seeking to grow […]
Why Corporate Governance Matters for Small Businesses—and How to Choose the Right Structure
Corporate governance is the structure that provides businesses with a framework for growth and problem-solving. Even small, family-run niche businesses can benefit from a specific corporate structure. Governance structures determine your personal liability, taxes paid, and the recordkeeping required. It can also impact decision making, accountability, and risk management. It can be simple, such as […]
Florida to Eliminate Sales Tax on Commercial Rent: What Businesses Need to Know
The Sunshine State has made strides to be more pro-businesses, including completely eliminating sales tax on commercial real estate rentals. The move is expected to reduce state revenue by $1.146 billion annually but boost the coffers of small businesses and potentially lead to a building boom. The only state in the U.S. to uniformly apply […]
Navigating Tariffs: A Florida Business Owner’s Guide to Adapting Supply Chains
Supply chain management took on new importance with the international tariffs that were threatened or implemented in 2025. Suddenly businesses are looking at ways to pre-purchase and stockpile supplies, to reduce costs, find new sources of goods, or route items through different countries. Alternatively, many are examining ways to pass the tariff costs on to […]
Key Clauses to Include in Commercial Lease Agreements
When a property has the location and amenities that your business needs, it’s easy to overlook the fine print: the details in your lease agreement. But these details can trip you up, cost money, and create headaches. Some of the reasons to negotiate the terms of a commercial lease include: What if the fine print […]
What to Know About Florida’s New Noncompete Law
New and existing employees are often asked to sign lots of paperwork when hired by a new employer. These include NDA and noncompete agreements, which have different purposes and enforcement rules. An employee’s grasp of the laws behind the paperwork is usually unclear until they plan to leave the company and are made aware of […]
3 Common Legal Latin Phrases, and 1 That Should Be
Latin phrases have been used in law for centuries. Latin was once the language of the Roman Empire, and as the legal system evolved, many Latin phrases became ingrained in legal terminology. While most legal terms have been translated into English, Latin phrases remain in use, adding a touch of tradition and formality to legal […]
5 Reasons Your Single-Member Florida LLC Needs an Operating Agreement
An operating agreement is a contract that controls your LLC’s operations as well as member interaction with each other and with the LLC. You may think that an operating agreement is not necessary for your single-member LLC – after all – why make an agreement with yourself? Is the Operating Agreement a Legal Requirement? No, […]
How Can You Tell If Your Business Contract Is Legally Binding and How Can You Fix It?
In the world of business, contracts are fundamental in defining relationships, obligations, and expectations between parties. A legally binding contract ensures that all parties involved are held accountable and provides a mechanism for recourse if the terms are breached. However, not all contracts automatically have legal standing. Understanding how to determine if your business contract […]
Protecting Your Brand
Why is Brand Protection Important? Key aspects of brand protection include: Obtaining appropriate legal protection. Using the brand properly. Enforcing the brand. Failure to take appropriate steps in any of these areas could jeopardize brand rights and value. If rights are weakened or lost, you may not be able to prevent the brand from being […]