RESOURCES

Small Business

Member-Managed vs. Manager-Managed LLCs

  • December 6, 2024
  • Read Time: 3 minutes
  • Asset Protection, Small Business

Choosing an LLC as your new business’s structure is a solid move.  LLCs are relatively easy to create and they provide asset protection and limited personal liability for their owners.  One of the important decisions you must make when forming your LLC is how the company will be managed.  LLCs can either be managed by their members (owners) or by managers (sometimes the owners, but sometimes employees of the LLC).  Which one is right for your LLC?  Here are some considerations to think […]

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Should Your Texas LLC be Owned by a Trust?

  • October 15, 2024
  • Read Time: 3 minutes
  • Estate Planning, Small Business, Trusts

The limited liability company (LLC) has become arguably the most popular business structure, because it offers personal liability protection for its member-owners and the flow-through tax advantages of an S corporation.  Trusts are popular asset transfer vehicles that provide protection from creditors and probate avoidance.  Using these two powerful planning tools together can create even greater asset and liability protection for business owners.  So whether you’re still thinking about starting a company or already own an LLC, the benefits of this compelling combo […]

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Texas Single-Member LLC Owners Gain More Protection

  • February 6, 2024
  • Read Time: 5 minutes
  • Asset Protection, Distressed Business, Small Business

On September 1, 2023, Senate Bill 2314 became law and changed the landscape of asset protection for small business owners across the state of Texas.  But this significant change in the law seems to have slipped under the radar.  Owners of single-member LLCs now enjoy the same protection from creditors that owners of multi-member LLCs have had for years.  Seems like cause for celebration, right?  Absolutely.  So why didn’t this announcement make the big splash it deserved? In large part because most business […]

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The New Corporate Transparency Act: What Every Small Business Needs to Know

  • December 28, 2023
  • Read Time: 4 minutes
  • Small Business

On January 1, 2024, the Corporate Transparency Act (CTA) goes into effect.  The CTA has far-reaching implications for millions of small businesses, creating new reporting obligations for owners and decision-makers.  Understanding the impact this new law has on your business is critical, as the law imposes civil and criminal penalties for non-compliance, including fines up to $10,000 and imprisonment up to two years.  So let’s find out if the CTA affects your business and what you may need to do to comply. What […]

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Which Business Structure is Right for Your Startup?

  • February 28, 2023
  • Read Time: 6 minutes
  • Asset Protection, Small Business

Congratulations, you’ve decided to start your own business. But now there are a thousand things to do before you can start welcoming customers into your office. One of the first things you have to consider is what you want the structure of your business to be – that is, how it will be seen for tax purposes and what protections it will provide you as owner. It’s a big decision, but thankfully there are only a few different options, and we’re about to […]

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The TrustBridge Legal Debt Collections Process

  • December 14, 2022
  • Read Time: 6 minutes
  • Distressed Business, Small Business

Is it time to call TrustBridge Legal? Outstanding debts can weaken a company by constricting cash flow, making it hard for small businesses to operate efficiently. TrustBridge Legal understands the importance of cash flow, maintaining a reasonable accounts receivable balance, working to eliminate outstanding debts, and resolving breaches of contract. We provide an effective and economical solution to monetizing your past due accounts receivable and maximizing cash flow. Our founder’s background in business as an owner and consultant led to his development of […]

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Understanding Financial Ratios

  • May 24, 2022
  • Read Time: 4 minutes
  • Small Business

To understand your business, you have to understand the numbers. Even if you’re not mathematically inclined, or you have a degree in engineering instead of accounting, there are some simple financial ratios that will give you a quick, high-level view of your business without having to bother your CPA. These ratios measure the relationship between two or more elements of your company’s financial statements. Tracking and comparing the results over several accounting periods allows you to follow trends in your company’s performance and […]

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Collecting on Past Due Accounts Without Ruining the Customer Relationship

  • March 7, 2022
  • Read Time: 5 minutes
  • Distressed Business, Small Business

Every small business owner knows that cash flow is the key to their company’s survival. Cash comes from customers, so preserving those relationships is vital to a small business. But what do you do when customers stop paying their bills? You may have extended credit and now your customer has gone silent. The invoice is well past due and they won’t respond. Clearly, there is a problem, but how do you go about working through the issues and getting paid? When word of […]

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