Texas Deceptive Trade Practices Act

Texas Deceptive Trade Practices Act

The Deceptive Trade Practices Act (DTPA) was enacted in 1973 to offer consumers broad protection against dishonest sellers of goods and services. The Texas Business and Commerce Code states that the DTPA “shall be liberally construed and applied to promote its underlying purposes, which are to protect consumers against false, misleading, and deceptive business practices,…

Employee vs. Independent Contractor

Employee vs. Independent Contractor

When a business contracts someone for services, it is important for both parties to have a clear understanding of whether that person is an employee or independent contractor. Failure to do so can lead to significant legal and tax consequences. For example, employers are required to withhold income taxes for employees, but not for independent…

5 Important Legal Considerations for Startups

5 Important Legal Considerations for Startups

Forming the right entity It’s important to choose a legal structure that maximizes benefits to the business and its owners. The two best options for startups are corporations and LLCs due to the limited liability protection they afford to owners. Ownership/management flexibility and tax issues are also important factors in deciding which entity to use….

The Importance of Estate Planning for Young Adults

The Importance of Estate Planning for Young Adults

There is a common misconception among young adults that estate planning is only for the wealthy or elderly. Unfortunately, accidents happen. The process is important to ensure that a plan is in place in the event of unexpected incapacitation or death. How should your assets be distributed? What life prolonging treatments would you agree or…

Corporations vs. LLCs: The Benefits of Owning Different Entities

Corporations vs. LLCs: The Benefits of Owning Different Entities

Many business owners often ask what type of entity is more beneficial, a corporation or an LLC. Both have more formal and expensive formation requirements than a General Partnership, but each offer certain advantages that are appealing to new business owners. FORMATION Both corporations and LLCs are formed when one or more organizers execute a…