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Business attorney los angeles
May 17 2023
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Tax Classifications for Different Business Entities

Posted by Posted in Entity Formation & Structure
When a corporation is formed in California, it will be deemed a C-Corporation by default. The terms “C-Corp” and “S-Corp” refer to tax classifications for different business entities. If a business wants to become an S-Corporation, Form 2553 will need to be completed and filed with the Internal Revenue Service. S-Corps and C-Corps have a few different key differences between them – one of them is how they are taxed. For instance, if your business…
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Best Business lawyer los angeles
Feb 28 2023
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Protections Afforded to Limited Liability Companies and Partnerships

Posted by Posted in Risk & Asset Protection
If you are looking to start a business in Los Angeles, California, you may be wondering what type of business entity is best. Many business owners opt to form a limited liability company, which offer certain protections against the individual owner. Why? Because limited liability protection helps protect your personal assets from business debts and legal judgments. Essentially, limited liability protection provides a shield for your personal assets, meaning your personal assets are protected and…
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Best business attorney losangeles
Feb 21 2023
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How to Add a Member to Your LLC

Posted by Posted in Entity Formation & Structure
If you own a limited liability company in California and are considering adding a new member, there are multiple factors that need to be considered. Adding a new member to an existing LLC is more complicated than it may seem at first glance. It is also important to be aware of the potential benefits, drawbacks, and pitfalls that may arise from the addition. With the arrival of a new member, you are adding an unknown…
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Top Business Lawyer Los Angeles
Jan 27 2023
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Prerequisites for Opening a Bank Account for an LLC

Posted by Posted in Entity Formation & Structure
One of the benefits associated with establishing a limited liability company (LLC) is the ability to open an independent bank account designated for the LLC as a standalone legal entity. Opening a bank account for your LLC is also a good business practice since it reduces the risk of coming ling business funds with personal funds. Below are some preliminary considerations and prerequisites that need to be met in order to open a bank account…
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Business Attorneys in Los Angeles
Jan 13 2023
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The California Privacy Rights Act is in Full Effect– Is Your Business Ready?

Posted by Posted in Compliance & Securities
If you conduct business in California, it is important to take steps necessary to ensure compliance with the California Privacy Rights Act (CPRA). Why? Because the CPRA went into full effect on January 1, 2023. At that point, all covered businesses will be subject to a set of rigorous requirements related to the collection, retention and use of consumer information. In addition, covered companies will be required to do the following: publish privacy policies applicable…
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Contract attorney los angeles
Dec 20 2022
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Independent Contractor Relationships

Posted by Posted in Employment & Independent Contractors
In California, an independent contractor is defined as a person or a business providing a specific service within a certain time for compensation. The person or business achieves independent status by not being subject to managerial control for “how” the services are provided. As business lawyers in Los Angeles, the professional team at The Hakim Law Group wants the public to know and understand the differences in the status of wage earners and independent contractors…
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Business lawyer los angeles
Dec 13 2022
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Proposed Regulations for Charitable Crowd funding

Posted by Posted in Compliance & Securities
In October 2021, California became the first state to regulate fundraising platforms used by charities. These platforms are used by charities to support their cause through monetary donations and other activities. These platforms existed without the full regulation of California’s fundraising laws. As business lawyers in Los Angeles, the professionals at The Hakim Law Group want the public and charitable organizations to be aware of the new regulations coming into effect on January 1, 2023,…
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Business attorney in Los Angeles
Nov 21 2022
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Business Entity Options in California

Posted by Posted in Entity Formation & Structure
Do you have a business in California that you are ready to take to the next level? Have you found yourself asking what the difference is between an LLC and a Corporation and which entity structure could be best for your business? Did you even know there were options? To begin answering these important questions, it is critical that you first take a step back and review the main entityoptions in California (there may be…
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business attorney Los Angeles
Oct 26 2022
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The Triggers of a Buy-Sell Agreement

Posted by Posted in Corporate Governance / M&A / Exits
A buy-sell agreement is important and essential for most businesses having more than one owner. This agreement benefits the owners by addressing potential circumstances which may justify a separation among business owners and providing some certainty and protection for both the exiting owner and the remaining owner through a pre-negotiated buyout offer. As business law attorneys in Los Angeles, the legal team at The Hakim Law Group wants all business owners to understand the importance…
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