Shelly Garcia is a veteran journalist and marketing professional who has worked with small- and mid-sized business owners for more than 25 years. As a journalist she had a front-row seat to the skills and strategies that successful business owners employ as well as the challenges they face. Her work has appeared in the Los Angeles Times, New York Daily News, Los Angeles Business Journal and Adweek magazine, among others.
Articles By Shelly Garcia
Many states hold the buyer of a business responsible for the seller’s unpaid taxes. Be certain you are protected from a surprise tax bill that can bump up your purchase price considerably by obtaining a tax clearance certificate.
Most businesses need to have an Employer Identification Number (EIN).
Even with an informal LLC structure, you should still document important decisions with a resolution.
Learn the many reasons to use an asset sale or stock sale when acquiring a business.
Learn how to use a letter of intent to pave the way for negotiating your commercial lease.
You’ll need a seller’s permit to collect sales tax from your customers.
You don’t always need a formal-looking contract or a lawyer to make a business agreement. But it’s a good idea to document your agreement, expectations, and each party’s responsibilities in writing, especially when a large sum of money is involved.
When you provide a service like consulting or graphic design, it’s a good idea to have a service agreement in place.
If you are buying real estate, make sure you understand the important protections you get with a warranty deed.
Make sure you understand how to shift the risk of loss in certain contracts with this important clause.