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There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
A corporation was defined in the Dartmouth College case of 1819, in which Chief Justice Marshall of the United States Supreme Court stated: "A corporation is an artificial being, invisible, intangible, and existing only in contemplation of the law." A corporation is a legal entity, distinct and separate from the individuals who create and ...
In 2002, the Department of the Treasury, through the Financial Crimes Enforcement Network (FinCEN), together with the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the National Credit Union Administration (NCUA) (collectively, the ...
The standard open enrollment periods for health insurance programs typically take place toward the end of the year. By December 31, your flexible spending account (FSA) funds typically expire.
The Internal Revenue Service has a checklist of tax-related actions you typically need to take when closing a business. Remember to keep records of all dissolution paperwork, including a filed ...
Seamlessly transfer to a new PEO using an exit strategy and PEO transition checklist. Learn why companies leave and the steps for doing so.
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