Business
The ABCs of LLCs
Are you considering going into business with a friend? A limited liability company (LLC) is certainly a great choice. Limited liability companies are easy to form, offer the tax advantage of a partnership, and the liability protections of a corporation. However, like...
Corporate Transparency Filing Deadlines
Congress passed the Corporate Transparency Act in 2021. The Corporate Transparency Act and its requirements took effect on January 1, 2024. Under this Act, certain business entities are required to file a Beneficial Ownership Information Report (a “BOIR”) with the...
Lease Rights Beyond the Property Line
A lease is an agreement between one party which owns real estate, (landlord or lessor), and another party who seeks to gain use rights to some or all of that real estate for a set period of time (tenant or lessee). The landlord remains the owner of the property, but...
Family Cabin LLCs
We all know someone who has a family cabin “up north.” Family cottages, cabins, and hunting land are a common estate planning concern in Wisconsin. The current owners want to preserve a place full of fun and memories for future generations. Unfortunately, the way...
Comparing Commercial and Residential Leases
Most individuals must navigate a residential lease at some point in their lives – typically for an apartment to live in before potentially purchasing a home later in life. In contrast, the majority of people will never need to negotiate or enter into a commercial...
The Coporate Transparency Act Implications for Small Businesses
Do you own a small business? Are you a member of an LLC or a shareholder in a closely held company? (A closely held company has a limited number of shareholders and is often a private company that does not trade publicly). If so, you should be aware of the Corporate...
Landlord Lag Time in Wisconsin
The benefit to renting over owning is avoiding unexpected repair costs, in contrast, it can mean having to wait for the landlord to make repairs. Who is responsible for making repairs and how long a landlord can take to make a repair depends on the issue. While a...
The Catch With An Account Stated
“An account stated is an agreement between a debtor and a creditor that the items of a transaction between them are correctly stated in a statement rendered, that the balance shown is owed by one party to the other and that the party has promised to pay that balance...
When Your LLC Designation is Not Enough
A limited liability entity, such as a LLC or Corporation, is an important part of protecting your individual assets from liabilities arising from your business. By operating the business within the limited liability entity, lawsuits stemming from the business - such...