The Covid-19 virus has dramatically
changed the way we relate to each other and the way we do business. As I write this, a million Americans have
contracted the disease, sixty-thousand people have died and 30 million have
been thrown out of work in under a month.
On March 22 the Director of the Ohio Department of Health issued a “Stay
at Home” order requiring non-essential...Read More
I have previously written about the need for succession planning for a
small firm, such as an insurance agency, small shop or professional
practice. Today, let’s discuss planning for transitions in larger
operations. Regardless of the product or service provided, CEOs and key
employees of both family companies and public ones retire, take other
jobs and sometimes die in the saddle. Plans...Read More
After a 10-year U.S. economic expansion, taxpayers hold trillions of dollars in unrealized capital gains.
To encourage investment in economically depressed areas, the U.S. Tax
Cut and Jobs Act of 2017 created a program that allows investors to
essentially “roll” what would otherwise be taxable capital gains into
investments into Opportunity Zones (OZ).
These zones were nominated...Read More
National publications like the Washington Post and the Wall Street
Journal have recently considered news of The Vindicator’s closing, and
suggest generally that local democracies will go only as far as their
local papers will carry them. These articles assume that if the local
news dies, so does an informed citizenry.
Local news organizations unearth and disseminate truths...Read More
Baby boomers are leaving the workforce in droves. But a business
owner who wants to retire cannot simply turn off the lights and head to
the beach. Selling a company and getting fair value generally takes
several years and careful planning.
Step One: Polish the apple.
Do not conduct a “Get me the heck out of here” sale. A buyer will not
pay full value if it appears a seller is...Read More
My namesake and great grandfather, Nils P. Johnson, was a Swedish
immigrant who settled on “Swede hill” at the top of the Market Street
bridge in 1905. He was a wholesale grocer and must have been an affable
man. Foreign accent and all, he eventually was elected to the Ohio
Times were simpler then both for immigrants and business people. When
great granddad came to town,...Read More
It can be feverishly tempting to set up a new business without first consulting an attorney.
With 24/7 online business registration from the Ohio Secretary of
State, a new legal entity can be formed in a matter of minutes, day or
night. Why then, does our law office receive so many frantic phone calls
from individuals who did it themselves?
Self-help like this often results in...Read More
Corporate culture is one of those terms that seems like it belongs in
a psychology handbook. It’s something that we may not always be aware
of, but it really defines our entire work experience.
Similar to investing in a quality mattress because, as they say, “You
spend half of your life on it,” the prudent businesswoman occasionally
examines their corporate culture because they spend...Read More
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