There is a lot riding on your small business. You have invested your money, time, and sweat equity to build a company that will be successful for years to come.

Even if you make all the right business moves, unexpected costs can arise at any time. Accidents, natural disasters, data breaches, and other unexpected occurrences are an ever-present risk to business owners. Small business insurance provides additional protection for your enterprise and could be the difference between a bump in the road and a door-closing catastrophe.

Achieving business wellness in 2023 can go a long way toward improving your overall physical health. Financial health and personal health are strongly connected. The healthier you are in one of these areas, the more likely you are to be healthier in the other. And, like physical wellness, financial wellness requires investment for the long term.

If you are a corporation, limited partnership (LP), limited liability company (LLC), or business trust. . .chartered, qualified, or registered in Tennessee or doing business in this state, then you must register for and pay franchise and excise taxes. This sometimes comes as a surprise to people who incorporate or create their entities in another state (like Delaware, Nevada, or Wyoming) but then do business or own property inside that entity in the State of Tennessee.

There are two main reasons why a particular entity is chosen, be it an LLC, S-Corporation, C-Corporation, or some form of partnership: tax treatment of profits and risk management. Other considerations may weigh in, but these are usually top of mind for most new business owners.

A Power of Attorney is a legal power or right, designated in a document that is created by a person who wants another person to take over some of his or her legal decision-making. The words “Power of Attorney” refer to both the legal power and the document that creates that power. The person who gives the power is the “Principal”, and the person who receives that power and who can exercise that power on the Principal’s behalf is called the “Attorney-in-Fact”.