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Should I split the family business? more similar news »
Dear FSB: My father, brother and I own a plumbing business that is under my father's DBA. We have since expanded. Now, my brother is in charge of repairs, my father new construction, and I manage the overhead. I was wondering if we should develop our own individual LLC's - my brother for repairs, mine for management services, and my father for new construction? My father is also getting older and I want to make sure when he retires he receives 33% of profits for the rest of his life, as he started the business. Can our separate LLCs form a partnership? What would you recommend?
Fri Apr 11, 2008 more from this source»»
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Pretending to be small more similar news »
Competing for federal grants can make a small-business owner feel as if she has stepped into a Tom and Jerry cartoon. Larger, better-funded firms are always ready to pounce on little guys and snatch their tiny portion of the government cheese. What's worse, some politicians have now decided that it's Tom who needs some help. The U.S. House has passed, and the Senate is considering, legislation that would dramatically alter the definition of "small" business and expand access to set-asides now reserved for independent entrepreneurs. The bill's Orwellian title: the Small Business Investment Expansion Act.
Fri Apr 11, 2008 more from this source»»
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