Blog

Short Answer: There are very few rules for using a DBA name in New Mexico. Just make sure to put the legal name of the business when it’s necessary or appropriate.

Many professionals are content to do business as sole proprietors and it’s a fine option for small, low-risk businesses. In a sole proprietorship, there is no legal difference between the business and the business

Short Answer: On the Effective Date which is often when the last party signs the contract unless otherwise stated.

Short Answer: For S corps or LLCs taxed as S corps, you must pay yourself a reasonable salary before taking any other money out. For LLCs, you can take money out at your discretion.

Short Answer: Technically no, practically yes.

Short Answer: Generally, yes.

Short Answer: Business owners should sign business contracts on behalf of their company by putting their title and the business’s legal name every time they sign.

Short Answer: Literally anyone can sign a contract on behalf of your business.

Short Answer: Handshake agreements are sometimes legally binding but they are hard to enforce.

Short Answer: S corps have pass-through taxation and some structural limits; C corps are subject to double taxation and can grow bigger in some ways.

Short Answer: Sole proprietorships and partnerships are the default legal structures when people start doing business without officially creating an LLC or corporation.

Not all agreements are legally-binding. For a contract to have legal teeth, it must contain these 6 elements:

Short answer: Technically no. Anyone can write a contract for themselves, but unless you have a strong understanding of contract law, it’s best to get help from a lawyer.