We will gladly assist you in reviewing any new purchase or business proposal. In the absence of this courtship, you should have your attorney draft a well-written partnership agreement. It is also important for family partnerships. Don't incorporate your business without first checking the long-range tax and nontax considerations. There are many small corporations that would have been better off operating in some other legal form.
Some businesses receive penalties for late payroll tax deposits.
To avoid such problems, don't sign payroll checks unless the first check in the stack is the payroll deposit to your bank. This may have you paying deposits earlier than required, but you will not be receiving penalties. Business problems and their solutions are as varied as are different businesses. There are some universal truths, however, in managing any business. We will work with you and your banker, lawyer, insurance agent, and other advisors to solve your business problems.