Wilson Law Group

06/08/2023

The LLC or limited liability company offers many benefits of incorporation without some of the drawbacks. LLC status is particularly suited to smaller enterprises or to companies that don’t plan to seek investment from numerous shareholders.

06/05/2023

Are you the type of person who likes to understand all the aspects of what’s happening with your business? We’re always happy to discuss your case with you in more detail.

03/15/2021

Today is a big day in the area of small business financing. As of today, the limit on the amount of money you can raise with Crowdfunding rises to $5,000,000. Also there are similar increases on Reg D 504 private securities offerings and some of the Reg A offerings. Contact me if you would like to learn more about Crowdfunding for your business.

01/20/2021

If you have "independent contractors" that you use in your business, there was a very good article written by local employment attorney Karen Michael in Monday's Richmond Metro Business. There are new regulations coming and apparently there is a difference between Federal and Virginia law on this topic. Having some familiarity with this might be very important for you. These federal regulations go into effect on March 8, 2021. Here is the link:https://richmond.com/business/labor-law-labor-department-finalizes-rule-on-how-to-classify-independent-contractors-but-it-differs/article_e1084bdd-75ec-5e38-a2df-feecbf60c22f.html
If you have questions on this topic, let me know.

The U.S. Department of Labor issued a final ruling on the classification of independent contractors versus employees.

12/03/2020

Further to my post yesterday regarding the federal government surplus property disposal to veteran-owned businesses. I attended another webinar today that emphasized two things: this program is literally only days old, so there is much the government has to do still to get it going and you must be veteran-owned certified to participate and that takes about 40 days if you put some effort into the application, longer if you don't. Today's webinar really stressed getting the application process going now, so that when you are certified, the program is up and running and you can participate. If you need help with getting certified, let me know. I have some contacts that help businesses get through this process.

12/02/2020

I wanted to spread this as far and wide as possible. I participated on a webinar today concerning veteran-owned businesses. Apparently, there is a program that was just initiated where veteran-owned small businesses will be eligible to receive government surplus property. A couple of things that you need to know, 1. The company must be certified by the VA as veteran-owned and 2. This may include both federal government and state government surplus property. Obviously it is just being started and there could be many questions, but veteran-owned business ought to start looking into it. Please call if you need some help with this.

11/19/2020

You may be aware that one of the problems caused by the pandemic is the closing of many businesses. This puts a strain on commercial real estate because tenants are walking on their leases. This strain will cause existing landlords to consider parting with their commercial real estate holdings, which creates an opportunity for small businesses to acquire real estate for their businesses. So why do I bring this up? If a small business owner creates a second business entity usually an LLC to own the commercial real estate where the business operates, the small business owner can start saving for retirement simply by paying rent each month. That rent payment to the related LLC that holds the mortgage, provides the funds that pays the mortgage. After 20 years, the mortgage is paid off and now this real estate LLC owns the building without a mortgage but still collects monthly rent payments from the original business or a new one in monthly increments that fund the business owner's retirement. Instead of paying "rent" each month, make contributions to your retirement!

10/06/2020

I received an email today from a company that has a guide to help businesses prepare for PPP loan forgiveness. This is long, but here it is: https://sunriseapp.com/lendioloanforgiveness/?utm_term=ppp_lf_dnq&utm_campaign=ppp_dnq_lendio&utm_medium=email&_hsmi=96824091&_hsenc=p2ANqtz-_llkpycVx52fnLwcVe1xaAYQk2ssiY8HkvKo12iIkptOQLfdWal5gKwTJGldQxh80N2fnaxrWwigY8LH__D_4ikXopHO2P73yQaSWXqAmg5D5vYLU&utm_source=lendio

Can't vouch for this or the company, but they have been recommended to me for helping small businesses find loans.

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10/02/2020

Wilson Law would like to congratulate George Nyfeler as Virginia's Small Business Person of the Year. George is a friend of the firm and we think he is an excellent choice for this honor. Congratulations to George!

08/25/2020

I received the following note regarding EIDL loans yesterday that I thought I would pass on. If you have questions on these, let me know.

Small businesses, private non-profits and agricultural businesses impacted by the Coronavirus (COVID-19) pandemic, can still apply for an Economic Injury Disaster Loan. EIDL proceeds can be used to cover a wide array of working capital and normal operating expenses, such as continuation to health care benefits, rent, utilities and fixed debt payments.

04/05/2019

Here is a link to my monthly blog for April: http://wilsonlawgroup.net/sharing-your-life-understanding-the-legal-implications-of-generating-income-from-uber-or-airbnb/ I get a fair number of questions about this topic so I thought I would put out some thoughts on the implications of participating in the "sharing" economy.

The sharing economy is here, giving consumers a way to earn money while sharing their home, vehicle, or items with other people. While some simply choose to earn a little extra money by occasionally renting out their home or picking up passengers in their vehicle, for others it’s a primary source ...