Business

Let’s say you start a business with a partner, just like we did around 8 years ago. When you are organized as an LLC, C Corp or S Corp, you can’t have the partners go around paying for stuff out of their own funds. The waters get muddy real quick. Co-mingling funds can open you…

What does it take to run a business successfully? That is the question we’re answering in this series of articles on business organization—all the legal and financial nitty-gritty that needs doing beyond the exciting idea you had when you decided to start a business. One of those big nitty-gritty details is managing the financial accounts…

Since we work with so many business owners who are building their own uncommon life, and since we talk so much about the power of business ownership, we wanted to write a series of articles about business organization—all the seemingly minute legal and financial details that need to be tended to so business can run…

This article is part of a larger series of articles about how to set up and organize a business both properly and legally. Today, our article is all about the “corporate veil”. Maybe you’ve heard the term before and wondered what that was referring to. The corporate veil is a legal concept that concerns the…

Part of being a business owner means following certain business formalities. One such formality is the annual meeting. What’s the big deal with these and why should you have an annual meeting? If you are structured as a corporation, it is a legal requirement to hold an annual meeting. For LLCs, it is not a…

As we talk with clients about the power of business ownership, we encounter many questions about what it takes to set up a business, thus this series of articles. We’re covering just about everything, from the corporate structure to annual/biennial reporting, to upcoming articles on tax filing and bookkeeping—and everything in between. We want to provide…

Business drives the global economy and owning a business can have a huge impact on your own personal economy. We’re writing a series of articles about the nuts and bolts, best practices, and legal necessities around organizing your business. This week, it’s all about the annual/biennial report. For the sake of clarity, we’re writing about…

Since business ownership is such a key point of conversation with so many of our clients, we’ve been writing a series of articles about business organization—all the stuff that doesn’t seem very exciting but is essential to legally own a business and creating a “corporate veil” between your assets and you. So, you’ve researched and…

We often talk about the power of business ownership; with clients, on our Uncommon Life podcast, and pretty much to anyone who will listen to us! Organizing a business is nit-picky work, but it has to be done and done right. We are writing a series of articles about business organization because we know it’s…

We talk with clients all the time about the power of owning a business. There are so many ways you can use a business to build cash flow and wealth. It’s powerful! But how do you do it the right way? If you’ve never started a business before, it can feel pretty daunting. Sure, people…

Done is better than perfect. For some entrepreneurs and business owners, that’s a tough pill to swallow. But sometimes perfectionism can get in the way of moving a project forward. It can wind up hurting your business. When we started our podcast last year, the Uncommon Life Project, we had no idea if anyone would…

We have the good fortune of working with some amazing farm families as clients. It’s always a privilege to meet with them and learn about their operation, whether they are just starting out or have had the farm in their family for generations. I can’t think of anything that requires more discipline, faith, and hard…