Bite-Sized Bits of Knowledge
Business Planning
IRC 1031 | Tax-deferred like-kind exchange
IRC 1031 Like-kind exchange By: Barry E. Haimo, Esq. June 19, 2025 What is a 1031 Like-Kind Exchange? At its core, a 1031 exchange, named after Section 1031 of the Internal Revenue Code, allows you to defer capital gains taxes when you sell an investment property and...
Entity Selection: Tying it All Together
Business Entity Selection: Why You Want to Get It Right the First Time By: Barry E. Haimo, Esq.April 14, 2025 As you have seen, there are many options when it comes to entity selection. Each has its own advantages and disadvantages. There’s no one entity that has it...
More Non Legal Formation Advice
Domain Name, Email, and Other Things to Consider When Setting Up Your Business By: Barry E. Haimo, Esq.March 27, 2025 While there are lots of legal “i”s to dot and “t”s to cross when creating your business – especially for certain types of entities – it’s important to...
Transfer Sale Mechanism and Problems with Trusts as Owners
Understanding the Nuts and Bolts of How Ownership Transfers Happen By: Barry E. Haimo, Esq.March 25, 2025 Sales of shares, membership interests, partnership interests, and so on can be done in a variety of ways. Of course, it’s customizable and can be tailored to the...
Introduction to Limited Partnerships
Limited Partnerships: Your Comprehensive Guide By: Barry E. Haimo, Esq.March 24, 2025 If you are trying to decide which entity you should use for your new business endeavor, there are numerous things to consider. One potential option to look at if you want something...
Slicing and Dicing and Wrongful Transfers
An Overview of Transferring Share Rights and What Isn’t Permissible with Transfers By: Barry E. Haimo, Esq.February 28, 2025 Did you know that some entities allow for the slicing and dicing of rights with respect to shares of ownership? That means, for example, that...
Governing Documents – Allocation of Distributions
Your Guide to Allocations of Distributions By: Barry E. Haimo, Esq.February 24, 2025 Did you know that different types of business structures have different rules for how profits can be distributed? Corporations (C and S) do not have the ability to allocate...
What You Should Know about General Partnerships
What You Should Know about General Partnerships By: Barry E. Haimo, Esq.February 24, 2025 Like sole proprietorships, general partnerships don’t require any filings and are created automatically. This makes them simultaneously convenient and dangerous. Because of...
Rules for Company Meetings: Setting Expectations and Guidelines
Rules for Company Meetings: Setting Expectations and Guidelines Regardless of entity type, it’s important to address company meetings. While this stuff is not sexy, it is super important. There are essentially two kinds of meetings: shareholders’ meetings and meetings...
Transfers – Rights of First Refusal
Rights of First Refusal: What They Are and Why Your Business Wants Them Imagine that you own a business with two other people. Splitting ownership between the three of you has been a nice way to split costs, risks, and responsibilities. However, there comes a point...
