Individuals who want to become business owners could opt to buy an existing business. Though there are several advantages of buying a business, it can also be risky and costly if business buyers make wrong decisions.
Individuals should understand that research plays a critical role when considering whether to buy a business. For example, potential business buyers could make a logical decision if they know why a particular business is being sold. An in-depth investigation is also important, especially if you have unanswered questions regarding the business. In Texas, business buyers may coordinate with local and state offices to get information about the business’ background. Business buyers may also want to study the financial statements of the business so they can know its actual assets and liabilities. Make sure you know all the laws and regulations concerning the operation of the business. Once you make up your mind and if you have the startup capital you need, you may want to offer a reasonable bargain to the business owner.
The Austin attorneys at Adam Pugh understand how risky it is to buy a business. If you are considering this investment, our experienced business attorneys may be able to offer you legal advice to make sure your interests while running a business are protected. Call us today at (512) 472-2431 to learn more about your options.
Experienced business owners know how important it is to determine exactly where to open a business because it will help determine whether the venture will succeed or not.
When you are planning on starting your own small business, one of the factors to consider when looking for the “perfect” location is your plan and purpose. A restaurant business will likely fail if customers and suppliers are far from its location. When looking for a location, make sure your business complements other existing businesses in the area. Keep in mind that operating a business in cities is more expensive, versus when you decide to operate in a rural town. Minimum wage may also vary depending on the place you operate. Lastly, make sure to determine the particular legal requirements of the place you are looking to settle.
If you have difficulties determining where you will place your business, an experienced business attorney may be able to give you insights for the kind of business you want to operate. Find out how an Austin attorney of Adam Pugh may be able to work for you. Find out more by calling (512) 472-2431.
Individuals in Texas who have completed a degree in the field of engineering, medicine, law, or education should know they can start their own business by providing services related to their profession.
Like in other states, professionals may start a “professional corporation” business in Texas if they think consumers or the general public have a demand for the kind of service they can offer. A person or group can offer “professional services” upon securing a license that allows them to perform or offer the practice and after they register with the Texas Secretary of State. Professionals considering this kind of venture should know they have to pay a $300 filing fee and state franchise taxes.
If you have decided to start your own business, enlisting a skilled business attorney is important, especially if you are unfamiliar with the intricacies of starting a professional corporation. Find out how an attorney of Adam Pugh in Austin could work for you today by calling (512) 472-2431.
Two business partners in Austin, who own a Japanese-inspired eatery serving ramen noodles, have plans of setting up shop in Montrose, an article of Austin Business Journal reported on November 11.
According to reports, chefs Takuya “Tako” Matsumoto and Tatsu Aikawa are planning to open another branch of “Ramen Tatsu-Ya” as part of their expansion. The new eatery will be located at 1722 California Street in Houston, and it will be their third branch to serve traditional Japanese foods. Aikawa and Takuya currently have branches on South Lamar Boulevard and near Ohlen Road. Ramen Tatsu-Ya is expected to compete with other promising ramen hubs in the Houston area.
Expanding your business can be exciting and stressful due to the amount of effort and money you must put in to make your plans happen. However, if you are considering business expansion in Austin, an attorney at Adam Pugh can offer legal insights to help lessen unforeseeable business risks. Learn more about your options from us today by calling (512) 472-2431.
Sunnyvale-based multinational company Yahoo! recently said they are facing 23 lawsuits after data from millions of users was accessed illegally, a report of Business Insider stated on November 9.
Reports revealed the plaintiffs, who represented stakeholders of Yahoo!, were seeking a class action lawsuit against the search engine giant. Yahoo! said in September that the data of at least 500 million accounts got accessed illegally since 2014. In a statement, Yahoo! said that aside from the lawsuits filed against them, they are also under investigation by federal agencies, which could negatively affect their business. Yahoo! CEO Marissa Mayer expressed her gratitude in October for consumers who continue to patronize their products despite the data breach. Several federal agencies are currently working with Yahoo! to determine the cause of the data leak.
The Austin legal team of Adam Pugh represents individuals whose businesses are threatened with lawsuits. If you think such a frustrating situation is happening to you, we can tirelessly work on your behalf to make sure you get the best legal defense available to you. Call us today at (512) 472-2431 to learn more about your options.
Before you can legally operate a business in Texas you will have to deal with complicated paperwork and secure permits that are required by the state and the jurisdiction where your business will likely operate. Depending on the nature of your business, you may need to acquire permits for the following:
- Alarm permits
- Building permits
- Business license and tax permits
- Health permits
- Occupational permits
- Signage permits
- Zoning permits
Business permits are required to make sure your business complies with the standards set by the city or county where your business is located. Securing business permits, however, could be much more complicated if you are planning to put up a web-based business that caters to people outside of your jurisdiction. Businesses that have the required permits are perceived by consumers to be credible and reliable.
If you are unsure of what kind of permits are you going to need for the business you are planning to start, seeking help from a legal counsel is worth considering to save time and money. Find out how a lawyer at Adam Pugh may work for you today by calling (512) 472-2431.
As in other states, individuals who are considering starting their own business in Texas should know they will need to pay several taxes in order to legally operate. Determining business taxes is an important facet of creating a business because individuals must find out if their finances can settle the taxes required of them. Below are the taxes required to run a business in Texas:
- Federal taxes that are required by the IRS
- State taxes that are required by the Texas Comptroller of Public Accounts for the benefit of the state
- Local taxes or business inventory taxes required by the local County Appraisal District where the business is operating
- Unemployment taxes required by the Texas Workforce Commission
Figuring out taxes while running a business is often difficult due to the legal technicalities involved. However, if you are planning to start a business, working with an attorney will give you an edge in your chosen venture. Find out how the attorneys at Adam Pugh in Austin may be able to work for you today by calling (512) 472-2431.
When setting up a new business, individuals should know the Internal Revenue Service (IRS) recognizes two kinds of business structures, which determine how the business will be taxed by the government. An “S Corporation” is one of the two types of business structures an entrepreneur may choose.
Business owners who decide to make their venture an “S Corporation” are not mandated by the IRS to settle corporate income taxes based on their profit. Usually, individuals who decide to run small businesses are the benefactors of S Corporations because they are taxed only once, but they also receive the legal advantages enjoyed by other types of businesses. Individuals should know they need to file Form 2553 with the IRS, requesting to become an S Corporation, and they will need to comply with the standards set to acquire the status.
If you are required to make a decision for your business, seeking the opinion of a skilled business attorney is critical to safeguarding your investments. Get in touch with an attorney at Adam Pugh in Austin today by calling (512) 472-2431 to find out how we may work on your behalf.
Retail is one of the most common business models embraced by aspiring entrepreneurs due to the variety of options available regarding how they could operate. Individuals who are entering retail as an entrepreneurial venture should consider the following factors to determine if retail is the type of business that suits them.
- The ability to lead: Starting entrepreneurs are expected to be the captain of their own ship and be accountable in all of their decisions.
- The ability to multitask and work by yourself: Starting entrepreneurs should know they have to complete multiple tasks simultaneously to learn the process by themselves and to lower overhead costs.
- The ability to quickly respond to situations: Retail business, like any kind of business, is unpredictable and business owners should be proactive in such situations.
- The ability to make sacrifices: Business owners should understand that there will be a point in their business career when they will experience unsteady cash flow.
- The ability to interact with all kinds of customers: Prospective retailers should understand that they will deal with different types of customers and they should be prepared to handle that.
Individuals may consider running a retailing business if they are comfortable with the above factors that are expected from a retailer. However, if you want to know more about how to start your own retailing business in Austin, an attorney at Adam Pugh can help you. Find out how we could help you enter the exciting world of business today by calling (512) 472-2431.
Oftentimes, businesses are unpredictable in nature. Contracts are created between two or more business parties so they have the security that their business will not be compromised if an unfortunate situation occurs. Because businesses have secured a contract, they are allowed to file a lawsuit when a “breach” occurs.
In a signed contract, all parties have agreed to fulfill all the listed details that are critical to the business. A person who signs a contract and fails to follow one or more of the agreed obligations is actually committing a breach and therefore compromising other parties who have also signed the contract. As disputes often take place in a breach of contract, affected parties may seek damage claims, ask for a resolution, and potentially seek the recovery of their losses after the breach. As businesses are financial in nature, affected parties are given payments to help them recover from their losses.
Unfortunately, breach of contract is a complicated legal topic that is critical to the success of any business venture. If you are considering starting your own business in Austin, an experienced lawyer at Adam Pugh may be able to work for you. Call our office today at (512) 472-2431 to find out how we may be able to work on your behalf.