Construction Costs Have Soared OSB is now running a minimum of $100 a sheet. Studs are $10 each. Metal is responding with similar gains for framing and piping. All systems of both residential and commercial construction are going skyward with no relief in sight. Appraisals are not in line with cost to build. There is…
Let’s face it – no client enjoys receiving their attorney’s bill at the end of the month. We as attorneys love to joke by saying clients hate us until they need us – then they hate us again after the bill arrives. There is hope. You can lower your attorney’s fees bills by one simple…
Limited Liability Company: A limited liability company (LLC) is not a partnership or a corporation. An LLC is a distinct type of entity that has the powers of both a corporation and a partnership. LLCs are very common these days and we definitely set up more LLCs than any other business structure. The owners of…
Corporations. Most people are familiar with big corporations that make products or provide services we all regularly use, such as Ford and American Airlines. However, the corporate business structure is also available to individuals. In Texas, a corporation is created by filing a Certificate of Formation with the Texas Secretary of State and paying the…
This week we are lucky to have my own personal CPA, Frank Sikich, CPA, CHAE, of Flower Mound, Texas, to give us an update on the new changes to the PPP Loans, including how to obtain forgiveness and what you can spend the money on: At the end of 2020, Congress passed, and President Trump…
As mentioned in Part 1, two other typical business structures in Texas are the “general partnership” and “limited partnership.” A general partnership is created when two or more persons associate to carry on a business for profit. There is no law in Texas mandating that the “partners” sign a written partnership agreement and there are…
The biggest fear I have as an attorney representing businesses is their lack of protecting their trade secrets. Most business owners do not realize the protection provided under the law in most states for those items included in the category of “trade secrets.” For instance, do you realize that your client lists, methods in performing…
You have decided to start a new business and realize that no matter what your business does, creates or builds, you of course have no desire to be exposed to personal liability if something does not go as planned. Unfortunately, there is no 100% guaranteed “iron clad” (not a legal term, but we hear it…
We have seen numerous reports that homeowners are active on home improvement and remodeling projects during the Covid-19 pandemic. North Texas seems to be one of the especially active regions for remodel work. This is of course great news for both remodelers and homeowners. However, given the ongoing concerns about Covid-19 and the fact that…
