If a business in New York is in financial trouble, the owner has several bankruptcy options. Many businesses choose Chapter 7, which is a liquidation, or Chapter 13, which is a repayment plan. However, businesses that exceed the debt threshold may consider Chapter 11....
Selling a business in New York and transferring its assets can be a difficult process for any owner. You have to consider how to continue your company's legacy. Here are a few suggestions to help you obtain the most benefits from your business succession planning....
In New York, an IRS corporate audit is required to review the accuracy of a business's financial activities. This includes a detailed review of tax returns and accounting documents that accumulated over the past several years. There are several methods recommended to...
Purchasing commercial real estate or investing in property remains a popular way to build wealth. New York state will doubtfully run short of commercial real estate opportunities, and many investors will continue to explore their options. Investing frequently benefits...
All aspiring entrepreneurs in New York must have a business plan in mind when beginning a new startup. This can apply with a single business or for those with the potential for multiple operations in the future. Most consultants will advise clients that a good...
Some businesses in New York file for Chapter 11 bankruptcy to restructure their company and repay debts. One of the most important tools that business owners have in restructuring is the ability to borrow funds through a Chapter 11 debtor-in-possession, or DIP, loan....
Merging two businesses is a difficult undertaking and it should only be done if the reward is better than the time, effort and money that it will consume as you complete the transaction and work to unify the two companies as one. Two companies can merge for many...
Breach of contract can be difficult to navigate even for an experienced business owner. Notably, how you handle a breach of contract can have long-lasting business consequences, so it is important to take the time to understand all legal considerations. Compensatory...
Regulation is necessary to keep the finance industry working. Finance and law are so intertwined that New York professionals can even change careers between the two. The actual work of financial and legal professionals is technically different, but their competencies...
Business formation goes beyond writing up a business plan; organizing cash flow statements and balance sheets only begins to scratch the surface. The legal framework of the industry you're in also needs to be accounted for. New York law doesn't require small...