TABLE OF CONTENTS

List of Forms

Introduction

1. You and Your Attorney

Client's Rights
When to See an Attorney
Preventive Legal Audits
How to Find an Attorney
Prepaid Legal Plans
How Much Are Attorneys' Fees?
Ethical Considerations

2. How to Get Started in Business

Checklist for Getting Started in Business
Why Businesses Fail
Creating Business Plans
Permits and Licenses
How and When to Use the Forms in This Chapter

3. How to Select the Best Business Form

Sole Proprietorships
Partnerships
Limited Partnerships
Family Partnerships
Limited Liability Companies
Corporations
Partnership versus Corporation: Nontax Aspects
How and When to Use the Forms in This Chapter

4. How to Make Your Corporation Tax-Free

The Pros and Cons of S Corporations
S Corporations Distinguished from Partnerships
Qualifications
How to Make the Election
When Should the S Corporation Be Used?
Terminating the Election
How and When to Use the Form in This Chapter

5. Buying or Selling a Business

Considerations
Preparation
The Contract
Bulk Transfer and Sales Tax Regulations
Price Allocation
Checklist for the Purchase of a Corporation or Its Assets
Fraudulent Sale of a Business
How and When to Use the Forms in This Chapter

6. Franchises

The Perils and Pitfalls of Franchises
A Franchise versus the Independent Business
A Franchisee's Checklist
The FTC Franchise Rule: Who's Covered and Who's Not
What Do State Franchise Laws Require?

7. How to Save Time on Tax Recordkeeping

Identification Numbers
Business Taxes
Depositing Taxes
Information Returns
How Good Business Records Can Save You Taxes
What Tax Records to Save
Basic Tax Records
Small Business Financial Status Checklist
Employers' Records
Payroll Records
How to Avoid IRS Penalties
How and When to Use the Forms in This Chapter

8. How to Save Taxes

Maximizing Deductions
Are You Overlooking Any Business Deductions?
The Home Office Deduction
When to Trade In Business Equipment
Not All Charitable Contributions Are Deductible
Employ Your Children
Fringe Benefits
Taxpayers' Bill of Rights
How and When to Use the Forms in This Chapter

9. Sales Contracts and Warranties

Contract Formation
Oral Agreements
Price Terms
Delivery Terms
Risk of Loss
Seller's Remedies
What to Do If Your Supplier Does Not Deliver
Letters of Intent
Cancellation of Door-to-Door Sales
Federal Warranty Requirements
New Home Warranties
Home Improvement Contract Checklist
How and When to Use the Forms in This Chapter

10. Patents and Trademarks

Trademarks
Patents
How and When to Use the Forms in This Chapter

11. You and Your Employees

Hiring an Independent Contractor Instead of an Employee
The Hiring Process
Immigration Reform and Control Act of 1986
Discrimination Laws
Rights of Employees with AIDS
Are You Guilty of Sex Discrimination?
Drug Testing
Discrimination against Minorities
How to Terminate Employees Properly
More Labor Laws
How to Eliminate Theft
Intellectual Property Protection
Is Your Employee a Future Competitor?
Workers' Compensation
How and When to Use the Forms in This Chapter

12. Special Laws Affecting Small Business

Duty to Report Product Hazards
How to Obtain Federal Records
Drug Testing of Drivers
Keep Your Corporate Minutes Up-to-Date
Environmental Reporting Requirements
How to Avoid EPA Sanctions
Commercial Arbitration Clauses
Immigration Law

13. Estate Planning Strategies

Estate Planning Checklist
Estate and Gift Taxes
Is a Living Trust Right for You?
Why You Need a Will
How to Choose an Executor or Trustee
Powers of Attorney
How to Restrict the Transfer of Stock
Perils and Pitfalls of Joint Ownership
How and When to Use the Forms in This Chapter

14. Real Estate Strategies

Buying Real Estate
Vacant Land
Financing Real Estate
Need Help in Purchasing Real Estate?
The Benefits of Private Mortgages
Legal Jargon of the Purchase Contract
Anatomy of a Purchase Contract
Inspection Contingency
Environmental Considerations
Lead Poisoning: The Silent Disease
Lease with Option to Purchase
The Ups and Downs of Office Condos
When Is Title Insurance Necessary?
Can the Bank Foreclose Your Mortgage?
Is Your Business a "Nuisance"?
Don't Lose Your Property to a Squatter
Historical Preservation Districts
How to Reduce Your Property Taxes
Are You Violating Zoning Laws?
Are You Guilty of Housing Discrimination?
The Landlord's Duty to Mitigate
How and When to Use the Forms in This Chapter

15. Leasing Strategies: Real Estate and Equipment

Lease It and Save!
How to Negotiate Commercial Leases
Shopping Center Leases That Violate Antitrust Laws
Checklist for Negotiating a Shopping Center Lease
How and When to Use the Forms in This Chapter

16. Protecting Your Small Business

Purpose of Insurance
Divorce Planning

17. The Americans with Disabilities Act

Undue Hardship
Drugs and Alcohol in the Workplace
Miscellaneous Provisions
How to Comply with the ADA
How the ADA Affects Workers' Compensation
Public Accommodations and Commercial Facilities
How and When to Use the Form in This Chapter

18. Credit, Collections, and Bankruptcy

The Top Ten Danger Areas
The Fair Credit Reporting Act
Women and Credit
Thirteen Sources of Cash for Your Business
How to Come Up with Collateral for a Bank Loan
Equal Credit Opportunity Act
Are Debtors Getting Away with Murder?
Successful Debt Collection
Mechanic's Liens
How to Collect a Money Judgment
Consumer's Right to Attorney Fees
Bankruptcy
How and When to Use the Forms in This Chapter

19. How to Prevent Workplace Violence

A Ten-Step Prevention Plan
Negligent Hiring and Retention of a Dangerous Employee
How and When to Use the Forms in This Chapter

20. Your Small Business Dot Com

Steps for Establishing Your Web Site
Legal Pitfalls
How and When to Use the Form in This Chapter