Archive for the ‘Law Firm’ Category

Franklin Business Lawyer on Forming a Corporation in Tennessee

In Law Firm on August 10, 2019 at 12:14 pm

Boyd LawForming a legal corporation is one way to take your business to the next level. This type of structure is especially beneficial for small businesses in a growth pattern since, as Franklin, Tennessee business lawyer Brian T. Boyd points out, it limits the financial liability of the business owner. We recently sat down to chat with Mr. Boyd, who generously offered insight on the process of forming a corporation in Tennessee.

Q: When does it make sense to form a corporation?

Brian T. Boyd: I think it is a wise choice any time a business owner wants to separate their personal assets from those of their business. When your business goes from sole entrepreneur to corporation, you have some protection if your efforts fail. You are less likely to lose your home, car, and personal cash reserves. 

Q: How does a business owner begin the process?

Brian T. Boyd: I would first start with consulting a business lawyer. In Franklin and the surrounding areas, this person can assist with ensuring the business name is registered correctly with the state. Further, an experienced attorney will know how and when to file the charter.

Q: What is a charter?

Brian T. Boyd: This is simply the document needed to launch the corporation as a legal entity. It contains information such as the business name, stock structure, address, a statement of profit-seeking status. 

Q: Can a business keep the name it launched with?

Brian T. Boyd: Often, yes. However, the name must be available in the state of Tennessee. A Franklin business lawyer can help with determining if the preferred name is available. They do this by searching the Secretary of State’s website. If it is not a usable name, the business owner must use something else. Additionally, the full legal name must contain “company,” “corporation,” or “incorporated” in the title. Abbreviations of these are also acceptable.

Q: What is an incorporator?

Brian T. Boyd: This is the person, usually the business’s founder, that files the charter.

Q: What is the difference between a registered agent and a director?

Brian T. Boyd: A director is an individual appointed to a role of responsibility within a corporation. Many companies have multiple directors, which sit on a board and make decisions about the business’s operations. A registered agent is the designee for official correspondence. It is not uncommon in Franklin for a director to also be a registered agent. A business lawyer can explain more regarding the roles of each title. 

Q: How does an incorporator draft bylaws and a corporate purpose?

Brian T. Boyd: In Tennessee, a business owner is not required to create a specific corporate purpose. By default, their purpose is to engage in lawful for-profit business operations. Bylaws are also not heavily regulated, although they must be adopted by the corporation, and they have to be consistent with local laws and the initial charter.

Q: How much does it cost to incorporate a business in Tennessee?

Brian T. Boyd: Currently, the cost to file a charter is $100. Further, businesses are required to pay state and federal income taxes. In addition to these, companies are not exempt from paying property taxes in Franklin. A business lawyer and an accountant can help individual business owners determine their estimated taxes, operational costs, and other expenses.

For more information on Franklin-based business lawyer Brian T. Boyd, visit

The Instant Tax Solutions Reviews Team Discusses Tax Relief Options

In Attorney, Law Firm, Legal on March 26, 2012 at 5:08 am
Instant Tax Solutions Reviews

Instant Tax Solutions Reviews

Can back taxes owed get resolved? The Instant Tax Solutions Reviews Team says yes and insists that now taxpayers have more options than ever. In today’s exclusive interview, the Instant Tax Solutions Reviews Team tells Presentation Solutions exactly what programs are available.

Presentation Solutions: Good morning. Let’s get started. Can you tell us what options the IRS offers for back tax relief?

Instant Tax Solutions Reviews Team: There are four main programs: Innocent Spouse, Penalty Abatement, Installment Agreements, and Offer in Compromise.

Presentation Solutions: Tell us a little about Innocent Spouse.

Instant Tax Solutions Reviews Team: Basically, if a spouse is not aware that their partner has filed erroneous claims and incurs life-altering charges as a result, then the IRS may be willing to offer some forgiveness.

Presentation Solutions: What other types of relief are there for married couples?

Instant Tax Solutions Reviews Team: There are also programs targeted at those with understated tax issues and Equitable Relief.

Presentation Solutions: Moving along, you mentioned Penalty Abatement. Tell us more.

Instant Tax Solutions Reviews Team: This is a fairly difficult form of relief. This actually does not take the original liability away.

Presentation Solutions: It doesn’t? How does it help?

Instant Tax Solutions Reviews Team: If accepted, this program will remove a portion–or all–of the penalties incurred during the time the tax debt was not paid.

Presentation Solutions: Why is it difficult to get approved?

Instant Tax Solutions Reviews Team: There must be extenuating circumstances involved, such as major illness or another abrupt disruption in the taxpayer’s life. Installment Agreements are more common than abatements.

Presentation Solutions: Really?

Instant Tax Solutions Reviews Team: Yes. Far more taxpayers will qualify for an installment agreement. This is similar to a credit card bill, with a set minimum payment each month until the balance is $0.

Presentation Solutions: Are there any programs that reduce the principal balance?

Instant Tax Solutions Reviews Team: Yes. That would be the OIC, or Offer in Compromise, program.

Presentation Solutions: What is that?

Instant Tax Solutions Reviews Team: This program allows the IRS to actually reduce the amount owed to a sum that they can reasonably expect to collect.

Presentation Solutions: What situations warrant an OIC?

Instant Tax Solutions Reviews Team: If the IRS believes they will never collect the full amount or if a severe hardship would occur as a result of paying the balance.

Presentation Solutions: A severe hardship?

Instant Tax Solutions Reviews Team: Yes. For instance, if the individual has the means – the assets – to fulfill his debt but then his or her family’s well-being would suffer.

Presentation Solutions: So this is only for the public – not businesses?

Instant Tax Solutions Reviews Team: If a business would be forced to close and that business is a taxpayer’s income source, there is a chance it would qualify for an OIC/Hardship.

Presentation Solutions: And what about actually filing back tax returns?

Instant Tax Solutions Reviews Team: Before any of the previously mentioned relief programs can even be considered, the IRS expects all tax records to be completed.

Presentation Solutions: How does a taxpayer know which years are needed?

Instant Tax Solutions Reviews Team: That is where we come in. Instant tax Solutions reviews our client’s previous year’s taxes for them.

Presentation Solutions: That sounds like a lot of work.

Instant Tax Solutions Reviews Team: It is. That is why many taxpayers just leave their debt unchecked.

Presentation Solutions: It’s good to have an experienced tax professional on your side.

Instant Tax Solutions Reviews Team: Absolutely. We certainly recommend it!

Presentation Solutions: Well, that is all the time we have today. Thank you again. We always look forward to speaking with you – especially as tax season gets closer and closer.

Instant Tax Solutions reviews this and other IRS information for educational purposes only. The information provided by the Instant Tax Solutions Reviews Team is not intended to replace the advice of a seasoned tax professional.

Stephanie Izen Discusses Top 3 FREE Money Management Applications for BlackBerry

In Finance, Law Firm, Legal on March 10, 2011 at 8:58 pm
Stephanie Izen

Stephanie Izen

According to Stephanie Izen, one of the most useful groups of BlackBerry apps is made up of money management apps. Consumers can download apps that help manage bills, make budgets, or read financial news, reports Stephanie Izen. There are also apps that allow individuals to perform banking transactions or manage their investment portfolios, notes Stephanie Izen.

Stephanie Izen recommends the following free money management apps for the BlackBerry:


1. Personal Assistant BBM. According to Stephanie Izen, with the Personal Assistant BBM app, a person can bring all of their financial information to their BlackBerry. The app allows users to consolidate all of their bank accounts and investment accounts in one place, explains Stephanie Izen. Once it is setup to access the user’s information online, reports Stephanie Izen, the app handles all data entry and account syncing tasks automatically. Stephanie Izen notes that the app also sends out due date reminders for bills. The Personal Assistant makes it much easier to remember to pay bills on time, concludes Stephanie Izen.

2. CNBC Pro. Stephanie Izen recommends this app to investors looking for real-time market information and up-to-the-minute financial news. BlackBerry users can get real-time streaming stock quotes, reports Stephanie Izen, and the latest market data on stocks, bonds, commodities, currencies, etc.  Investors can sign up for customized price alerts and news alerts, states Stephanie Izen, as well as watch CNBC TV.

3. ProOnGo Expense with Receipt Reader. Stephanie Izen recommends this BlackBerry app for storing and managing expenses. Users can take pictures of receipts on the fly, says Stephanie Izen, and the app will organize them in customized categories. Then the program creates informative, useful reports, states Stephanie Izen. The reports can be exported to an Excel spreadsheet or synced with QuickBooks Online Edition, concludes Stephanie Izen.

About Stephanie Izen
Stephanie Izen is a financial and legal “hybrid” – an executive leader who utilizes financial analysis, business acumen, and legal expertise to help businesses thrive. Stephanie Izen may be reached at