The idea of owning commercial property is a dream come true for many people. However, commercial real estate financing is a whole new ball game compared to the residential real estate market in New York. You must be aware of all real estate financing options to make...
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Entity formation and tax implications
A person needs a business idea and plan before creating a business entity. Selecting a business entity is complex since there are multiple types. Each business entity has its own set of tax advantages in New York, New York. The right plan can save the new business...
Pros and cons of accepting cryptocurrency as startup funding
New York allows you to accept cryptocurrency if you have a BitLicense, which costs $5,000 to acquire. You should be aware of the pros and cons of accepting cryptocurrency as startup funding before making your decision. No third-party processor Investors don't need to...
Negotiating better with venture capital firms
Venture capital firms in New York take on a considerable amount of risk. Learning how to negotiate with investors is the key to securing the funds. Listen and wait for responses Learn to listen and wait for the right response. After you present each major point, see...
What to know about CRE property classification in New York
One of the most commonly asked questions among New York investors in commercial real estate is how the classification of property works. You may have heard this classification system used countless times without knowing what it is. It's a huge asset to have at least a...
Tips for selling a business successfully
Selling a business in New York can be a daunting task. There are so many things to think about, and there is no one-size-fits-all approach for selling a business. Thankfully, there are certain things you can do to make the process easier and increase the chances of...
The basics of the Section 1031 like-kind exchange
The Internal Revenue Service (IRS) allows real estate owners to exchange real property without having to take on tax liability. Section 1031 allows that tax-free like-kind exchanges are made in place of having to sell businesses and tangible assets. It's necessary to...
Distinctions between mergers and acquisitions
Knowing the differences between mergers and acquisitions can reveal the pros and cons of each. In a merger, two businesses combine as their agreement. Their resulting group is formed as a mutual outcome. The term "acquisition," however, has two connotations with it in...
The main types of takeover bids in New York
In the business world, mergers and acquisitions happen for various purposes. This includes gaining an industry monopoly, expanding into new markets or improving a company's overall performance. The specific corporate actions that make this possible are commonly...
Redomestication of an NY corporation
Many people who start businesses in New York later find that they want to move their location of incorporation to Delaware. Delaware has a more business-friendly court system and set of regulations for the board of directors, more favorable tax rates, and other...