Business Law Insights

As tax season approaches for business owners, staying informed about potential tax changes and taking proactive steps can make all the difference in protecting your financial future. Whether you’re a growing business owner juggling multiple ventures, or a long-time entrepreneur focused on transitioning your companyto the next generation, preparing early

The CTA requirements for Beneficial Ownership Information (BOI) reporting have been in flux due to ongoing litigation. Business owners are understandably concerned about compliance, but recent developments have clarified the immediate obligations—or lack thereof—for now. The Timeline of the Litigation The BOI reporting requirements stem from the Corporate Transparency Act

When planning for the future of your business, one of the most significant decisions you face is defining what exactly you’re passing on. The “what” of succession planning sets the foundation for everything that follows—determining how the transition unfolds, who benefits from it, and what role you will have once

Choosing your successor is often the most emotional and challenging aspect of successful succession planning. It’s not just about finding someone who has enough money or can run your business effectively—it’s also about identifying a person who understands the heart of what you’ve built, who can honor your values, and

As the year winds down and you gather with family or your dedicated employees, there’s a unique opportunity to start an important conversation about what’s next for your business. At MSB Law, we’ve been privileged to guide countless leaders—just like you—through the transition from “today’s business owner” to “tomorrow’s legacy

Over the past 40 years, we’ve seen the impact of a business and corporate world driven by shareholders, and specifically the goal of maximizing shareholder wealth. The overly-aggressive pursuit of profits often harms those who make up the core of a company, its true “stakeholders” – all the employees, customers,

The Department of Labor’s (DOL) recent overhaul of overtime regulations, effective July 1, 2024, has sent ripples through the business world. The increased salary threshold to qualify for the white-collar exemptions has expanded the pool of employees eligible for overtime pay, necessitating a comprehensive re-evaluation of workforce classifications for many

On April 23, 2024, the US Federal Trade Commission issued a final rule banning many noncompete agreements nationally, with some exceptions. This came months after California led the charge with Senate Bill 699 and Assembly Bill 1076, which went into effect on the first of this year. The FTC estimates

With the rise of entrepreneurship and the “gig economy”, more and more people in Kansas and Missouri are engaging in multiple business ventures. While this can be extremely profitable, it can also create a complicated web of legal obligations that need to be managed. One option is choosing to form

Contracts can be oral or in writing. Good business practice is to always reduce your agreement to writing. Regardless whether oral or written, a contract is an agreement between two parties that binds them to carry out (or not carry out) certain or specific actions. The requirements of a contract

Buying or selling a business is a complex venture that requires buyers and sellers to adhere to specific legal processes, and necessitates careful planning. Sales agreements are legal documents that outline the terms and conditions associated with the transaction and enable a meaningful evaluation of all company assets and liabilities.

When you have been injured or when you are involved in a dispute about money, there can be a tendency to rush the decision to sue. It’s important to remember that the money you recover in a lawsuit comes at a cost, such as lawsuit filing fees, attorney’s fees, and