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Small Biz Saturday Checklist: 10 Things to Do

One of the biggest shopping weekends is upon us. In addition to competing with Black Friday sales, you're likely hoping to reap the rewards of Small Business Saturday.

Shoppers across the country are trying to get their holiday shopping done, and many of them want to support local businesses while doing it. But before you fling open your doors, you need to make sure your store is ready for an onslaught of shoppers, in person and online.

Right before you open for business, try to take a few deep breaths. But even before that, you can take some steps to prepare yourself for a smooth day of sales.

Here's our Small Business Saturday checklist:

GA Shooting Range's Liquor License Approved

Who says guns and alcohol don't mix? Certainly not the Powder Springs City Council in Georgia, which approved a liquor license for a proposed shooting range that will serve alcohol.

The owners of a gun shop came up with the idea of opening a $3.5 million indoor gun range complete with its own bar, reports NBC. But the owners do note that patrons who visit the bar will be flagged and prevented from returning to the firing range.

So is this a good or safe business mix? Or is this just clever marketing as patrons won't actually be boozing with one hand and shooting a gun with the other?

Incorporating Your Business: Pros and Cons

If you're starting a new business, one of the first decisions you'll have to make is how to organize your business and whether you should incorporate your business.

There are many different types of business forms you can take including sole proprietorships, partnerships, limited liability companies, and corporations. The type of business you plan to run, your willingness to take on risk, and the amount of business you expect will likely drive what type of business form you take.

Incorporating your business is probably the most expensive and complicated business form you can take. So before you take that step into incorporation, you may want to consider these pros and cons.

7 Business Deals That Require a Written Contract

Running a small business means making deals and agreements all the time. Often it's just a verbal nod from both parties but deals can mean a written contract.

There are lots of business situations where you could use a written contract but there are also some where you almost have to in order to protect your business. Telling the difference is important unless you have enough cash to keep an attorney around full time.

Rather than leaving it to chance, check out our list of the most common business activities that need a written contract.

Want to Avoid Legal Issues? Get a Mentor

Guest post by Jennifer K. Halford, Esq.

Every business owner should have a mentor. Mentors encourage you, provide advice and expertise. And a good mentor can also help you avoid legal issues.

The first step is to find a quality mentor. She should have relevant industry experience. She should also be able to advise in areas in which your business skills are lacking. This may mean that you will need more than one mentor.

The next step is to prepare an agenda of topics to discuss with your mentor. Recognize that your mentor's advice is not a substitute for legal advice. But she can help you avoid legal trouble and unnecessary attorneys' fees.

Here are five ways to utilize your mentor for legal help:

Internet Tax Likely Coming Whether You Like it or Not

The days of tax-free shopping on the Internet may be coming to an end. Congress seems poised to pass an Internet tax law, the Marketplace Fairness Act, that allows states to force online companies to tax their customers.

While the Internet tax law is being touted as a "new" tax, legally speaking, it should have zero impact on the amount of taxes customers pay for online purchased goods. However, from a practical standpoint, small business owners just lost a huge advantage they had on traditional brick-and-mortar stores.

So what does the Internet tax law really mean for small business owners?

Before Changing Your Business Talk to These 5 People

Guest post by Jennifer K. Halford, Esq.

I was recently asked by a business owner if she should change from a sole proprietorship to an LLC.

She had been told that an LLC will shield her personal assets from the debts of her business. That fact is generally true. But liability protection is not the only factor to consider.

The answer to her question is much more complex. Changing your business structure has tax and liability consequences that require thoughtful consideration.

In fact, you must ask more people than your business attorney this question.

These five individuals should be consulted before you make the decision to change your business structure:

Why Every Business Owner Needs a Business Plan

Guest post by Jennifer K. Halford, Esq.

Many business owners see the value of having a good business plan when they are trying to obtain financing. Banking institutions and venture capitalists want to see when they can expect a return on their investment. And a business plan can show that information in an organized manner .

But few business owners know the preventative value of a solid business plan.

Creating and regularly updating your plan can help you protect your business from legal liabilities. Taking the time to consider your business goals and how to achieve them will force you to look at risk. It will also help you prevent unnecessary liabilities.

Here are three legal reasons every business owner needs a business plan:

If you're thinking of starting a nonprofit tax-exempt entity, you'll likely know that there's quite a bit of research involved. Once you start digging, you'll come across words that might make absolutely no sense whatsoever.

So here's to demystifying these crazy words and making the law of tax exempt organizations a little more user friendly. Have a look at our top 5 legal terms for nonprofit law.

There are times when estate planning and small business law cross over. The family limited partnership is one of those times. It's a vehicle used by small businesses to manage the continuity of their business and to effectively plan for the future.

So, what is a family limited partnership and how can it help a small business?