Starting a business as a sole proprietorship is often the easiest path—but as your business grows, it may no longer be the safest or most flexible option. This article explains the key differences between sole proprietorships and LLCs, the risks of staying unincorporated, and the signs that it may be time to convert your business to an LLC.

Running a small business is risky, and financial pressure can escalate quickly. When debt becomes unmanageable, bankruptcy may offer a path forward. We help business owners evaluate Chapter 7, Chapter 11, and Chapter 13 options to regain control and protect what matters most.

Voting rights in an LLC are not one-size-fits-all. Learn how member-managed and manager-managed LLCs allocate decision-making authority, how votes are counted, and why a well-drafted operating agreement is critical to protecting owners’ rights and business flexibility.

Businesses insure buildings, vehicles, and equipment—but often overlook their most valuable asset: people. Key person insurance protects a company financially if a critical employee dies or becomes disabled, supporting business continuity and buy-sell planning. Learn how it works, who qualifies as a key employee, and how much coverage to consider.

Running a business with your spouse can be rewarding—but only if it’s structured correctly. Learn how entity selection, tax treatment, and written agreements help protect both your business and your marriage.

Development in the Lake Tahoe Basin is heavily regulated by the Tahoe Regional Planning Agency (TRPA). This article explains transferable development rights (TDRs), including RUUs, TAUs, and commercial floor area, and outlines the options available to property owners seeking to develop or transfer rights.

Revenue Ruling 59-60 remains the IRS’s primary guidance for valuing closely held businesses. This article explains the fair market value standard, required valuation factors, and practical implications for business owners issuing or transferring equity.

Not every income-generating activity qualifies as a business. The IRS applies specific factors to determine whether your side activity is a true business or simply a hobby—and the tax consequences are significant. Learn how the rules work, when deductions are allowed, and how to avoid IRS scrutiny.