Dinn, Hochman & Potter, L.L.C.
TF: 800-233-4079
L: 440-681-8005

October 2015 Archives

How do I form a joint venture business?

Are you in the beginning process of planning and forming your new Ohio business? Congratulations, this is an exciting undertaking that could lead you down a road of major success in the state. If you already have a business and are looking to expand, you may be considering entering into a joint venture. This is when two or more smaller businesses join to create a larger, temporary solution that benefits both businesses. Does this sound appealing to you? If so, read through the following basics.

What is a sub-s corporation?

When forming your future business, it is important to establish what type of corporation you are planning. The status of your business will play an important role in determining what taxes you are held liable for in the state of Ohio. You could also be eligible for some benefits or tax breaks of you own a certain type of business. Small businesses in particular should be thoroughly planned for success.

How the IRS distinguishes between employees and contractors

One of the major shifts in American employment patterns that has affected businesses in Ohio as well has been the move of companies away from hiring employees and toward relying on independent contractors. There are a number of practical reasons for this change: employers do not normally extend employee benefits to contractors, contractors have more flexibility in their work schedules and weekly hours, it can be easier to release a contractor than to fire an employee, and tax advantages for the employer.

What is a "quasi contract?"

Valid contracts can take different forms. The type that as a business professional you may be most familiar with is known as an express contract, which is an agreement set forth in a signed writing and the terms of which are included in the agreement document.

Office Location

Dinn, Hochman & Potter, L.L.C.
5910 Landerbrook Drive, Suite 200
Cleveland, OH 44124

Local: 440-681-8005
Toll Free: 800-233-4079
Fax: 440-446-1240

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