At Smith Jadin Johnson, a discussion point that often arises when meeting with new business clients is whether to make an S-Corporation election under the IRS rules. Often clients ask: ...
Starting on January 1, 2022, many employers in Minnesota will have to re-examine their policies regarding expecting and new parents. In 2021, the Minnesota Legislature passed amendments to the state’s ...
Businesses must be aware of several key steps as they begin the process of recovery with their insurance carriers in the wake of the Marshall Fires. Every effort should be ...
If you are the owner of a business, you know that you can’t run it forever. Like taxes, retirement and death are sure things. When your business has outlived you, ...
Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high-degree of peer recognition and professional achievement. The patented selection process ...
Glaros Hanson v. Midwest Inv. Servs., LLC, 2020 WL 5647239 (Minn. Ct. App. 2021) Smith Jadin Johnson attorneys Charles Austinson and Tim Johnson recently won a case at the Court of Appeals disqualifying an attorney from representing a company against one of its clients. The case involved a limited liability company in which the plaintiff and defendant were equal owners.…
At Smith Jadin Johnson, we represent a wide variety of businesses. In doing so, our firm often discovers that clients have key employees that are aware of the business’s confidential information and yet no protections are in place for preserving that information. This creates the risk that a key employee may leave the business and take the business’s confidential information…
The Federal Government has passed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) to help small businesses cope with the economic downturn caused by the COVID-19 pandemic. The CARES Act includes both low-interest forgivable payroll protection loans through the Payroll Protection Program (“PPP”) and Economic Injury Disaster Loans (EIDL). Payroll Protection Program The PPP was enacted as…
The novel coronavirus known as COVID-19 has become a global pandemic and will change business as we know it for the foreseeable future. It will almost certainly throw the global economy into a recession as people start adapting to social isolation and containment procedures. Business owners may be asking themselves whether insurance will cover lost business income caused by COVID-19.…
A properly drafted buy/sell agreement for privately held businesses with multiple owners avoids the risk of costly litigation that can occur when a co-owner departs from the business. The following scenario is an example of the financial risk in not having a buy/sell agreement in place: A business owner (“Buyer”) needs representation in the buyout of her business partner (“Seller”).…
