[...]... 1/6 SMALL BUSINESS START-UP KIT More Small Business Products From Nolo Business Plans Business Plan Pro 2004 by Palo Alto Software A fast, easy way to generate the plan you need to launch or expand your business How to Write a Business Plan by Mike McKeever Explains how to write a business plan, whether for your own purposes or to attract money from lenders or investors—including how to evaluate the. .. agents of the federal drug enforcement agency, who confiscate the plants, claiming they could be turned into narcotics Soon thereafter, criminal charges are filed against Jamie and Kent, resulting in several newspaper stories Though the partners are ultimately cleared, their attorney fees come 2/8 SMALL BUSINESS START-UP KIT to $50,000 and they lose several key accounts, with the result that the business. .. will become a sole proprietorship The remaining owner will pay the departing partner, or the deceased departing partner’s estate, the fair market value of the departing partner’s share of the business as of the date of his or her departure The partnership’s accountant will determine the fair market value of the departing partner’s share of the business according to the partnership’s book value Mediation... and legally, this book is for you Online resources for small business startups If you need more guidance on other aspects of starting a small business, consult the Small Business section of Nolo’s Legal Encyclopedia at www.nolo.com You’ll find several articles on business start-up issues, such as starting the right kind of business and how to raise start-up money But this book is also for those of you... Choosing the Best Structure for Your Business 2/20 2/2 Y SMALL BUSINESS START-UP KIT ou probably already have a rough idea of the type of legal structure your business will take, whether you know it or not That’s because, in large part, the ownership structure that’s right for your business a sole proprietorship, partnership, LLC, or corporation—depends on how many people will own the business. .. city hall to register your business In addition to explaining the start-up requirements that apply to most small businesses, this book also outlines the preliminary work you should do before 1/4 SMALL BUSINESS START-UP KIT heading out to file all your official forms In Chapters 2 through 5, we discuss fundamental tasks such as choosing the right legal structure for your business (sole proprietorship,... liable for all business debts, including court judgments In addition, each individual partner can be sued for the full amount of any business debt (though that partner can turn around and sue the other partners for their share of the debt) Another very important aspect of general partnerships is that any individual partner can bind the whole business to a contract or business deal—in other words, each... footage The guy I lived with at the time thought I should go into business selling the stock footage I had collected, but, at the time, I didn’t know if I could make a living doing it I didn’t know anything about the stock footage business There were a few companies doing it, but they were in New York or L.A., and they seemed really huge But since I liked working with images and since the business. .. your business, negotiating a lease, and solving problems that arise from it Legal Forms for Starting & Running a Small Business by Fred S Steingold Dozens of legal forms and documents crucial for the success of a small business Legal Guide for Starting & Running a Small Business by Fred S Steingold All the legal info you need to get your business off the ground and running—including how to raise start-up. .. record business Your business can’t lose money forever See our discussion of tax rules for money-losing businesses in Chapter 9, Section A3, “Hobby Businesses: A Possible Source of Tax Deductions.” 2 Personal Liability for Business Debts Another crucial thing to know about operating your business as a sole proprietor is that you, as the owner of the business, can be held personally liable for business- related . your business. In addition to explaining the start-up requirements that apply to most small businesses, this book also outlines the preliminary work you should do before 1/4 SMALL BUSINESS START-UP. On With Your Business 1/3 B. Making the Decision to Go Official 1/4 C. Get Ready for the Ride 1/5 1/2 SMALL BUSINESS START-UP KIT Y ou don’t have an MBA. Hell, you’ve never taken a business class different businesses. While the bureaucracy governing small business often seems like a convo- luted maze, you can take comfort in the fact that the procedures are standard—they apply more or less the