Posted In: Business Transactions & Corporate Counseling and Coronavirus Resource Page
Business Blog: Is the Coronavirus a "Force Majeure" Event?
By Elizabeth G. Schultz Yeargin on February 26, 2020
With the coronavirus running rampant through China's industrial and manufacturing hubs, many cities within the country are on quarantine and have enforced mandatory plant closures. The threat of the virus has caused many U.S.-based companies to shift their normal supply chain activities from China to suppliers located in other parts of the world....
Posted In: Business Transactions & Corporate Counseling and Trusts & Estates
Business Blog: Before You Say "I Do" to Your Business Partner, Consider a Business "Prenup" - 5 Reasons You Need a Buy-Sell Agreement Today
By Elizabeth G. Schultz Yeargin on February 13, 2020
People often consider what can go wrong before exchanging their marriage vows. However, many do not address these same concerns when starting a company. What happens if your business partner unexpectedly passes away? Becomes permanently disabled? What do you do if your business partner wants to sell?...
Posted In: Business Transactions & Corporate Counseling and Tax - Business & Corporate
Business Blog: Beware of Unrelated Business Taxable Income
By Elizabeth G. Schultz Yeargin & Jarman J. Smith on August 26, 2019
Many nonprofit organizations are recognized by the federal government as being tax-exempt; therefore, taxes are generally one of their lowest business concerns. However, even tax-exempt organizations may be liable for tax on any activities that generate unrelated business income. According to the Internal Revenue Service (IRS), unrelated business income is any income realized from a trade or business regularly carried on by an organization, which is not substantially related to furthering the purpose of the organization's tax exemption....
