The SBA and Treasury Department released updated frequently asked questions on the Paycheck Protection Program (PPP). Here are a few noteworthy takeaways. Non-cash benefits. The $100,000 limit to qualifying payroll costs only applies to an employee's cash...
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Employers Required Posting
The Department of Labor's Families First Coronavirus Response Act has recently released a poster. The poster must be posted by April 1, 2020 by all Employers of 500 or less employees. You can find the poster at this link:...
Chapter 11 bankruptcy can reduce obligations to shareholders
Companies have financial obligations to many different parties. When a business hires people to work, they have an obligation to fulfill the promises made regarding that employment, including the payment of wages. Companies also have financial obligations to local and...
Estate planning is not just for after-death matters
When carrying out almost any action in life, there is room for mistakes. The same goes for estate planning, which can be a very involved process. Some Minnesota residents may think that they have created a plan that will be beneficial for themselves and their...
Reasons for the high family business failure rate
If you run a family business, you may be well aware of the dire failure rate. Even if you keep the company strong while it is under your control, the reality is that most family businesses fail as they move on to the second or third generation. It's just too hard to...
How to give money to someone who’s bad at conserving it
Imagine you're planning your estate, trying to decide how you want to distribute your assets after you die. This money and other property is the product of a decades-long and prosperous career. You've only managed to hang onto it because you're frugal and wise about...
Yes, you can rebuild credit quickly after a bankruptcy
Establishing yourself as credit-worthy is a process that can take many years or even decades for those with a rocky start. Unfortunately, it can take as few as three or four months to utterly destroy your credit rating. A few missed payments, combined with penalty...
How do Minnesota courts view non-compete agreements?
Running a successful business often means performing a variety of duties at the same time. You may be a jack of all trades but a master of none when it comes to business management. That is a very common approach, but it can be dangerous when it comes to your...
4 reasons for business owner disputes
A dispute between you and a co-owner or co-founder can ruin your company. It can derail everything you have worked so hard for. It can even end your friendship. This is something you must take seriously, no matter how unlikely it seems.After all, no one thinks a...
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