Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for April 2024 is The Vets on Track Foundation (VoTF). Perkins Law salutes VoTF for its mission to initially furnish homes for veterans and first responders transitioning into permanent housing from homelessness and then work […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for March 2024 is Backpacks of Love. Perkins Law salutes Backpacks of Love for its mission to eliminate hunger in school-age boys and girls in Central Virginia by providing food for their weekends.
Perkins Law has had the privilege of working with many local franchise owners over the years, and it is especially exciting to see them grow and succeed in their chosen industries. The latest example is Hayes Enterprise, LLC, an Executive Home Care franchisee. Founding owner Tim Hayes recently reached out to let me know that […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for February 2024 is Branches of Life. Perkins Law salutes the Branches of Life for its mission to deliver intentional, person-centered services to people with intellectual disabilities and autism to aide in the pursuit of meaningful […]
Introduction Effective January 1, 2024, the Corporate Transparency Act (“CTA”) now imposes reporting requirements on most small business entities (corporations, limited liability companies, certain partnerships, etc.), which will require an electronic filing providing information on certain “beneficial owners” and other associated persons with the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the U.S. Department […]
One of the great things about being a small business and nonprofit lawyer is that I get to work with an amazingly diverse, talented, and passionate group of people every day. Check out the latest update on one of RVA’s unique small businesses—The Workbench, LLC—as featured in Richmond BizSense: DIY woodworking shop reopens near The […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for January 2024 is Virginia Farmers Market Association (VFMA) for its mission to support farmers markets through education initiatives, while building opportunities for collaboration, networking, advocacy, and innovation that supports the growth and sustainability of […]
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2023. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 20 different practice areas.
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for December 2023 is Fore Children Inc. for its mission to provide deserving youth access to the best golf facilities and programs throughout the Richmond region. Check them out at www.forechildreninc.com
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for November 2023 is Sisters Network Inc. Perkins Law salutes the Sisters Network Inc. for its mission to increase local and national attention to the devastating impact that breast cancer has in the African American community.
There is an upcoming Small Business Networking event sponsored by SCORE on November 14, 2023 from 5pm-7pm at Garden Grove Brewery and Urban Winery.
I have been a loyal Crumbl customer since they entered the Richmond market a few years ago. As Starbucks did with coffee, Crumbl has successfully pushed the price point for a cookie to a premium level. Ever considered becoming a Crumbl franchise owner? Here are a few things worth considering: On a positive note: Started […]
One of the highlights at Perkins Law every fall is the announcement of scholarship recipients at the Bon Secours Memorial College of Nursing. For the sixth year in a row, Perkins Law has sponsored a scholarship to help a deserving nursing student on his or her path to a professional career in nursing. With the […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for October 2023 is Hitting Cancer Below the Belt (HCB2). Perkins Law salutes HCB2 for its mission to provide community education, early detection services for the uninsured, and direct support services for patients and survivors […]
One of the important decisions nonprofit leaders need to make during the organizational stage is choosing a fiscal year that aligns with the organization’s mission and other factors. A fiscal year is a 12-month financial reporting period that determines when a nonprofit organization starts and ends its accounting cycle. When selecting a fiscal year, several […]
There is an upcoming Best Practices Workshop event sponsored by SCORE titled “Legal & Accounting Basics for Virginia Entrepreneurs” on October 24, 2023 from 12pm-2pm at the Publix at John Rolfe Commons. Click here for more info.
There is an upcoming Small Business Networking event sponsored by SCORE on October 19, 2023 from 8am-10am at the Dominion Energy Innovation Center. Click here for more information.
The Black Tennis Hall of Fame is set to acknowledge and honor black excellence in tennis with their 15th annual induction ceremony at the Virginia Museum of History and Culture on September 23, 2023. Over the years, this organization has recognized legendary athletes, coaches, and contributors to the sport of tennis. As the years go by, […]
There is an upcoming “How To” workshop event sponsored by SCORE titled “Why Franchising? Introduction to Franchising as a Business Opportunity” on September 27, 2023 from 6pm-8pm at the Publix at John Rolfe Commons. Click here for more info.
Question: I feel terrible for those affected by the recent Maui wildfires. An old friend living in Maui was displaced by the fires and lost everything she owns. I would like to organize a crowdfunding drive to provide financial support to her and would like to ask my church to serve as a conduit to […]
There is an upcoming “Best Practices” workshop event sponsored by SCORE titled “How To Launch a Nonprofit” on October 17, 2023 from 6pm-8pm at the Glen Allen Public Library. Click here for more info.
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for September 2023 is Operation Enduring Warrior. Perkins Law salutes the OEW for its mission to honor, empower, and motivate our nation’s wounded military and law enforcement veterans through physical, mental, and emotional rehabilitation.
There is an upcoming “Best Practices” workshop event sponsored by SCORE titled “Be Your Own Publicist” on September 19, 2023 from 6pm-8pm. Click here for more info.
RVA small business and franchise attorney Eric Perkins has been selected by peers in the legal community to be included in the 30th edition of The Best Lawyers in America for his work in franchise law for the 14th year in a row. With over 25 years of experience representing franchise systems and franchise owners, […]
There is an upcoming “Best Practices” workshop event sponsored by SCORE titled “Picture Your Success with a One-Page Business Model” on September 12, 2023 from 5:30pm-7:30pm. Click here for more info.
Thousands of businesses have pursued franchising as a growth strategy over the past 50 years. Many are household names with tens of thousands of locations around the world (e.g., McDonald’s, Subway, Kentucky Fried Chicken, Marriott) while others fizzled out without much fanfare. Seemingly every conceivable industry and business model has been franchised at some point. […]
There is an upcoming “Best Practices” workshop event sponsored by SCORE titled “Financial Basics for Small Business Owners” on September 13, 2023 from 6pm-8pm. Click here for more info.
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for August 2023 is Honor Loan. Perkins Law salutes the Honor Loan for its mission to empower people by teaching the entrepreneurial mindset for personal and professional growth.
As a small business owner, you likely already understand the importance of building connections and developing a loyal customer base. But precisely how do you accomplish those things? Best-selling author Jeffery Gitomer’s “Little Black Book of Connections” is a helpful resource in this regard and here are ten quick tips gleaned from Gitomer’s book. 1. […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for July 2023 is Caring Clothes Closet. Perkins Law salutes the Caring Clothes Closet for its mission to address the immediate needs of people in the Richmond, Virginia Metro Area by providing free clothing to families […]
William McRaven is a retired four-star Admiral who served in the United States Navy for 37 years. He is known for his inspiring speeches and books on leadership. One of his best-selling books is “Make Your Bed: Little Things That Can Change Your Life…And Maybe Even the World.” In this engaging, easy-to-read book, McRaven begins […]
Franchising has become a popular business model for first-time entrepreneurs looking to own their own business. By acquiring a franchise, you get instant access to an established brand and a collection of what should be proven business practices and marketing tools. However, before jumping into a franchise opportunity, you would be well advised to conduct […]
MARK YOUR CALENDAR!! USTA’s Net Generation is conducting an upcoming webinar on Wednesday, June 21 from 12:30 – 1:15pm on nurturing great sportsmanship and competitiveness with guest speaker Christina McHale. The former WTA Pro will shares her experience on the importance of sportsmanship and how it can help elevate your child’s game. Click here for […]
Looking for corporate governance , compliance, and regulatory guidance? As part of its continuing commitment to the Virginia nonprofit community, Perkins Law is pleased to offer a package of legal support services on a flat fee basis . Nonprofit organizations, staff , and executives can enjoy access to legal advice and resources covering a wide […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for June 2023 is LIiDA (Legal Intervention in Domestic Abuse). Perkins Law salutes LIiDA for its mission to fund free legal representation to obtain protective orders for victims of domestic abuse, stalking, and harassment.
For those exempt organizations operating on a calendar-year basis, don’t forget that your Form 990 for 2022 (whichever version you are required to file) is due by May 15th. Not to be a downer, but also keep in mind that if you neglect to file for three consecutive years, then the IRS will automatically revoke […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for May 2023 is the Richmond Tennis Association. Perkins Law salutes the RTA for its mission to provide a variety of tennis programs and events throughout the year for tennis players of all ages and […]
1. What is the PTE Tax Law? Virginia’s PTE tax law, enacted in 2022, allows a qualifying pass-through entity (“PTE”) to make an annual election for tax years 2021 through 2025 to pay income tax at a rate of 5.75% at the entity level. 2. What is a Qualifying PTE? A PTE that qualifies to […]
HOW TO OBSERVE NATIONAL VOLUNTEER MONTH: -Thank a volunteer. -Volunteer! Many volunteers will tell you it is a rewarding experience. -Do you have a special talent or skill that may benefit a charity or organization? Offer your services or ask how you can be of help. -Share volunteer opportunities with friends https://nationaldaycalendar.com/national-volunteer-month…/
Perkins Law turns 14 years old this April! Serving the RVA small business and nonprofit communities has been such a rewarding experience and would not have been possible without the vast (and always growing) network of inspiring and loyal clients, colleagues, and friends that have trusted us with their transaction and compliance needs. The Perkins […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for April 2023 is Partnership for the Future. Perkins Law salutes PFF for its mission to provide crucial resources for promising students with limited means who have their sights set on a college education – […]
In a relatively recent development in the nonprofit world, you can now download copies of original IRS Determination Letters (issued January 1, 2014 and later) using the IRS on-line search tool Tax Exempt Organization Search (TEOS). Over the past few years, I have had several nonprofit clients report that they had not received their IRS Determination […]
Perkins Law is proud to be a Corporate Patron of the Virginia Museum of History & Culture. If you have not enjoyed this world-class history museum experience, do yourself a favor and check out one of the nation’s top history museums conveniently located on Arthur Ashe Boulevard. For more details, visit www.VirginiaHistory.org.
When buying a small business, a third party that often is very influential in determining whether an acquisition will close in a timely fashion (if at all) is the commercial landlord that owns the office building or shopping center in which the target business is located. Assigning an existing lease or negotiating a new lease […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for March 2023 is Side by Side. Perkins Law salutes Side by Side for its mission to create supportive communities where Virginia’s LGBTQ+ youth can define themselves, belong, and flourish.
In a recent decision from the National Labor Relations Board (“NLRB”), the government has essentially put employers on notice that they can no longer “silence” terminated employees with broad confidentiality and non-disparagement clauses that historically have been standard provisions in severance or separation agreements. According to the decision in Case Number 07-CA-263041, these provisions violate […]
Great crowd on hand at Randolph Macon College for today’s Encorepreneur event with featured speaker Kate Tweedy. Kate shared memorable insights on the legacy of legendary Triple Crown winner Secretariat.
Perkins Law, PLLC is excited to once again team up with Bon Secours Memorial College of Nursing to sponsor a nursing scholarship for the 2023-2024 academic year. It will provide tuition assistance for a deserving nursing student at the College. The Perkins Law team is grateful for the opportunity to play a small supporting role for […]
All good things must come to an end. Or, perhaps it is better to frame the issue as the law must change with the times to reflect realities in the market and better serve the investing public. Whatever your view of the benefits and burdens of government regulation, SEC Regulation D has been a savior […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for February 2023 is SevaTruck. Perkins Law salutes SevaTruck for its mission to meet people where they are to help minimize their obstacles in getting nutritious meals.
Former Richmond Times Dispatch business editor Greg Gilligan was today’s featured speaker at Encorepreneur, sharing stories from his 30+ year career covering the Richmond business community. Greg also shared updates on his current work with RVA757 Connects and its initiatives helping the I-64 Corridor between RVA and Virginia Beach become the next global Internet hub. […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for January 2023 is Worthdays. Perkins Law salutes Worthdays for its mission to mobilize the community to ensure that those impacted by the foster care system know they are important, worthy and celebrated.
We posted about a lot of different topics and trends for the RVA small business and nonprofit communities this year. Here are a few highlights: 1. New Federal Reporting Requirement To Affect Millions of Small Businesses 2. Can a Nonprofit Organization Require Board Members to Donate? 3. Have You Identified A Flywheel for Your Business? 4. Showing […]
As 2022 comes to a close, here’s another glimpse of the 12 local nonprofits we “spotlighted” this year. Inspiring work being done throughout RVA!
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2022. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 20 different practice areas.
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for December 2022 is Gayton Care Ministries. Perkins Law salutes Gayton Care Ministries for its mission to help their neighbors in need in western Henrico and nearby Goochland through a food pantry.
No one proactively seeks to be a whistleblower when they show up to work in the morning. While people of high integrity and ethics will focus on doing the right thing when faced with an ethical dilemma, they do so at great risk. The life of a whistleblower is incredibly stressful and unglamorous. The good […]
When it comes to bullying, it is helpful to understand how the term is defined—not every mean, rude, or offensive act constitutes bullying (as a legal matter)—and that bullying comes in different forms. Misuse of the term diminishes the plight of victims and desensitizes the public to the magnitude and severity of the problem. Common […]
One of the highlights at Perkins Law every fall is the announcement of scholarship recipients at the Bon Secours Memorial College of Nursing. For the fifth year in a row, Perkins Law has sponsored a scholarship to help a deserving nursing student on his or her path to a professional career in nursing. With the […]
QUESTION: A newly formed nonprofit organization filed IRS Form 1023-EZ to seek recognition of its exempt status under Section 501(c)(3). The IRS approved the filing and issued a determination letter recognizing the organization’s tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. Very soon thereafter, the organization recruited a few new board members, and […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for November 2022 is Comfort Zone Camp. Perkins Law salutes Comfort Zone Camp for its mission to transform the lives of children who have experienced the death of a parent, sibling, primary caregiver, or significant […]
The Final Rule recently issued under the Corporate Transparency Act (“CTA”) represents a significant update to federal anti-money laundering laws and is estimated to affect millions of business entities by imposing new disclosure requirements on business owners. Here is a quick summary of the reporting requirements and a few tips to help you comply with […]
According to a recent BizBuySell Insight Report, small business acquisition activity has slowed after posting five consecutive quarters of year-over-year growth. The number of closed deals reported in the third quarter of 2022 dropped 2% year-over-year and was 4.5% lower than the number reported for the second quarter. Just as importantly (if not more), small […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for October 2022 is Heart Havens. Perkins Law salutes Heart Havens for its mission to for its mission to provide residential support to adults with a developmental disability.
The simple answer is yes it can (and many do), but perhaps the bigger question is whether an organization really wants (or needs) to impose such a mandate? It is legally permissible for a nonprofit organization to require its directors to make an annual cash contribution to the organization as a condition to joining the […]
If you are thinking about starting your own business then consider signing up for SCORE’s upcoming LIVE 3-evening online workshop “How to Start Your Own Business” featuring local experts, including RVA’s small business attorney Eric Perkins on October 20th. This workshop will include presentations by local professionals and subject matter experts in business law, bookkeeping, insurance, finance, marketing and […]
Selling your business is an exciting and rewarding conclusion to an entrepreneurial adventure that has perhaps consumed much of your adult life. A significant part of your sense of identity and self-worth might be closely associated the business that you are now about to transfer to someone else. As you consider how you will respond […]
The US Small Business Administration reports that small businesses make up 99.5% of all Virginia businesses and employ 1.6 million people, or more than 46.6% of the state’s workforce. Business relationships have their ups and downs, and the average relationship among business partners has a life span of less than five years. As a small business evolves, […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for September 2022 is Jacob’s Chance. Perkins Law salutes FRIENDS Association for Children for its mission to enrich the lives of families by supporting youth and young adults with special abilities, through inclusive programs that promote skill […]
The UVA Law Nonprofit Clinic offers free legal compliance check ups for area nonprofit organizations. The vast array of compliance requirements, governance issues, and other risks that nonprofit leaders have to navigate can be overwhelming for even experienced nonprofit volunteers and staff. For smaller, volunteer-based nonprofit organizations, obtaining much-needed legal assistance at an affordable price […]
The featured speaker at this month’s Encorepreneur meeting was Michael Mason, a former Marine, high-ranking FBI official, Verizon executive and, most recently, a Chesterfield County school bus driver. In a highly engaging presentation, Mr. Mason shared his life story and offered valuable insights on topics ranging from leadership to the importance of recognizing the value […]
Happy national nonprofit day! Perkins Law offers flat rate packages for starting a nonprofit, maintaining governance and compliance, business structures for social entrepreneurship, and more. Contact us today!
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for August 2022 is SOAR365. Perkins Law salutes SOAR365 for its mission to create life-fulfilling opportunities for individuals with disabilities.
It is a common strategy in the small business community to operate legally through a limited liability company (“LLC”) and filing an election (IRS Form 2553) to have the LLC classified for tax purposes as an S corporation. The LLC is often an optimal choice of entity for a small business because of the limited […]
As a nonprofit leader or small business owner, you are interacting with people on a regular basis in a variety of different settings. Knowing how to “read people” is a special skill learned through years of experience and interaction with others. “You Can Read Anyone” by David J. Lieberman is an interesting book offering specific […]
If you are thinking about starting your own business then consider signing up for the upcoming 3-night virtual SCORE workshop series “How to Start Your Own Business” featuring RVA’s small business attorney, Eric Perkins on July 28th. Speakers will cover such topics as: Choosing the legal structure that’s right for you Building a successful marketing […]
A 501(c)(6) exempt organization is a nonprofit association of persons with a common business interest dedicated to the promotion of that common interest. Trade associations, business leagues, and chambers of commerce are three common types of tax-exempt organizations under Section 501(c)(6) of the Internal Revenue Code. Here are the seven distinguishing characteristics of a 501(c)(6) […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for July 2022 is FRIENDS Association for Children. Perkins Law salutes FRIENDS Association for Children for its mission to help children and families in the metropolitan Richmond area achieve their potential and become productive citizens.
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for June 2022 is Little Hands VA. Perkins Law salutes Little Hands VA for its mission to provide essentials and a little extra love to babies and families in need in the Greater Richmond region.
The flywheel effect is based on a concept from Jim Collins’ classic “Good to Great.” Put simply, the gist is that your customers are your best salespeople. Therefore, if you can create or improve a product or service in such a way that your customers not only are impressed enough to purchase, but are excited […]
A crisis—whether personal, local, or national in scope—offers an important opportunity for a small business owner to demonstrate his or her leadership to employees. The keys here are thoughtfulness, timeliness, and communication. Consider these tips when responding to a crisis situation: Timing is important. Generally speaking, the sooner you reach out, the better. Ultimately, however, […]
For those exempt organizations operating on a calendar-year basis, don’t forget that your Form 990 for 2021 (whichever version you are required to file) is due by May 15th. Not to be a downer, but also keep in mind that if you neglect to file for three consecutive years, then the IRS will automatically revoke […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for May 2022 is OAR of Richmond. Perkins Law salutes OAR of Richmond for its mission to provide evidence-based and person-centered approaches to empower those impacted by incarceration to find individual success.
If you have not heard about Perkins Law, PLLC in Glen Allen, VA, enjoy this quick introduction: https://youtu.be/J9_GeCrGBxM
I enjoyed a fun and informative Monday afternoon at CCV attending a reception hosted by the Bon Secours Memorial College of Nursing and the Bon Secours Richmond Health Care Foundation celebrating their nursing scholarship program that in recent years has raised and distributed over $4 million in scholarships to support nursing students. The Bon Secours […]
Perkins Law is excited to announce its sponsorship of the upcoming McDonald’s Mid-Atlantic Clay Court Championships taking place July 10-15, 2022 at Salisbury Country Club in Midlothian, VA. The event will feature a variety of college players, local pros, and coaches from all over the country. Click here for more information. Small business and nonprofit […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for April 2022 is Groundwork RVA. Perkins Law salutes Groundwork RVA for its mission to cultivate the next generation of urban conservationists in Richmond, Virginia. Check them out at www.groundworkrva.org
Perkins Law is pleased to be a court sponsor for the upcoming Thalhimer Challenge, the largest tennis event of its kind in Virginia. This year’s event will take place September 23-25, 2022 at both The Westwood Club and Salisbury Country Club and will feature over 500 local players of all levels representing a dozen local […]
In the nonprofit community, the words “public charity” and “foundation” often are used interchangeably. However, there is an important legal distinction between the two types of tax-exempt organizations. For starters, it is helpful to understand that every 501(c)(3) tax-exempt organization is classified by the IRS as either a “public charity” or a “private foundation.” This […]
If you are thinking about starting your own business then consider signing up for SCORE’s upcoming IN PERSON workshop “How to Start Your Own Business” featuring local experts, including RVA’s small business attorney Eric Perkins on April 29th. This workshop, at BizWorks in Chesterfield County, will include presentations by local professionals and subject matter experts […]
Perkins Law, PLLC is excited to once again team up with Bon Secours Memorial College of Nursing to sponsor a nursing scholarship for the 2022-2023 academic year. It will provide tuition assistance for a deserving nursing student at the College. The Perkins Law team is grateful for the opportunity to play a small supporting role […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for March 2022 is Richmond Friends of the Homeless. Perkins Law salutes Richmond Friends of the Homeless for for providing a nutritious lunch seven days a week in Richmond’s most impoverished neighborhoods.
Startup companies eager to accelerate their growth sometimes face tough options—and succumb to questionable decision-making–when it comes to raising capital, and iAnthus, one of early leaders in the booming legal cannabis industry, is the latest example of how quickly and dramatically things can go wrong when a company enters into a risky financing deal. Decision-making […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for February 2022 is ART180. Perkins Law salutes ART180 for providing a space, free of judgment, that encourages creative self-expression while developing local young creators and promoting them through exhibitions, performances, public art, publications, and […]
If you are thinking about starting your own business then consider signing up for the upcoming virtual SCORE workshop “How to Start Your Own Business” featuring RVA’s small business attorney, Eric Perkins on March 10th. Speakers will cover such topics as: Choosing the legal structure that’s right for you Building a successful marketing and sales […]
Question: If an individual serves on an Endowment Committee for a nonprofit organization that has started to invest significant sums in a for-profit privately held company in which the volunteer is a co-owner and executive employee, should the volunteer step down from the Endowment Committee? Answer: Conflicts of interest are not prohibited per se. A […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for December 2021 is Live Red Foundation. Perkins Law salutes Live Red Foundation for offering free fitness programs, which teach 8 core life skills, to youth in low-opportunity communities. Click here to learn more.
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2021. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 20 different practice areas.
The limited liability company (“LLC”) has emerged as the entity of choice throughout the small business community over the past 25 years. However, for many professional service providers, Virginia offers another, yet confusingly similar, option: the professional limited liability company (“PLLC”). Because (i) the two types of entities are similar in many substantive respects, yet […]
RVA nonprofit attorney Eric Perkins will discuss key questions to answer before getting started, how to form a Virginia Nonstock Corporation with SCC and how to apply for recognition of tax exempt status. Attendees will also hear valuable insights and close with plenty of time to answer questions. Virtual workshop will be held on Thursday, […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for November 2021 is ACTS. Perkins Law salutes ACTS for its mission to provide funds, support, and other resources to neighbors in financial crisis, enabling them to live sustainable, self-sufficient and dignified lives. Click here […]
I was saddened to recently to hear the news that the Innsbrook Foundation was dissolving, an unfortunate fate for an organization that had served the Innsbrook community so effectively for over 30 years, but an inevitable part of the life cycle of any nonprofit organization or business entity. The COVID-19 pandemic has been a catalyst […]
The inaugural Pitch Virginia event, organized by Activation Capital, is scheduled for Wednesday, November 10 at the newly opened Shift Retail Lab at VCU, an initiative of the VCU da Vinci Center. The festivities will feature pitches from high growth, main street, and student-owned companies competing for $15,000 in prize money, concluding with the grand opening […]
RVA Small Business and Nonprofit law firm Perkins Law, PLLC is excited to sponsor this weekend’s River City Open, the largest NCAA Division I men’s tennis event in the area. Organized by the River City Tennis Foundation, a local charity promoting tennis throughout the city, the tournament will feature players from some of the nation’s best […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for October 2021 is Celebrate! RVA. Perkins Law salutes Celebrate! RVA for its mission to give children the chance to celebrate and enjoy their birthday in a safe and fun environment. they host birthday parties […]
If you are thinking about starting your own business then consider signing up for the upcoming 3-night virtual SCORE workshop “How to Start Your Own Business” featuring RVA’s small business attorney, Eric Perkins on October 7th. Speakers will cover such topics as: Choosing the legal structure that’s right for you Building a successful marketing and […]
Richmond SCORE is conducting an upcoming webinar on Tuesday, October 26, 2021 from 6:30 to 8:30 pm for entrepreneurs and small business owners on an accelerated strategy for developing an abbreviated one-page business plan for your business. Click here for more details and to register.
On March 2, 2021, Virginia became the second state to enact a comprehensive state privacy law when Governor Northam signed the Virginia Consumer Data Protection Act (the “CDPA”) into law. The CDPA creates consumer rights, similar to California’s Consumer Data Protection Act, but also imposes security and assessment requirements for businesses. While it will not […]
As amended by the General Assembly in 2020, the Virginia Minimum Wage Act (“VMWA”) creates a schedule of incremental increases to the minimum wage throughout the Commonwealth of Virginia. The first increase, effective May 1, 2021, raised the Virginia minimum wage to $9.50/hour. Under the VMWA, the minimum wage will increase each year until it reaches $15.00/hour […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for September 2021 is Podium. Perkins Law salutes Podium RVA for its mission to Empower youth ages 10 – 19 in greater Richmond to become confident, capable writers with the skills necessary to succeed in […]
Ever considered franchising as a path to business ownership? If so, then careful planning and research are a must. Secure a seat for the Perkins Law Prospective Franchisee Workshop on September 9th led by small business and franchise attorney, Eric Perkins. Attendees will also hear valuable insights and close with plenty of time to answer […]
RVA small business and franchise attorney Eric Perkins has been selected by peers in the legal community to be included in the 28th edition of The Best Lawyers in America for his work in franchise law for the 12th year in a row. With over 20 years of experience representing franchise systems and franchise owners, […]
On January 1, 2021, the Corporate Transparency Act (the “CTA”) was enacted as a part of the National Defense Authorization Act. As a result, certain U.S. business entities will soon be required to file a report with the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) to disclose identifying information of their beneficial owners. An […]
Congratulations to Hayli Wagner, recently announced as recipient of the Perkins Law Nursing Scholarship at the Bon Secours Memorial College of Nursing for the 2021-2022 school year! Following her mother’s footsteps into the health care field, Hayli’s goal upon graduation is to be a pediatric nurse. At a time of unprecedented risk, stress, and uncertainty […]
Perkins Law is pleased to be a court sponsor for the upcoming Thalhimer Challenge, the largest tennis event of its kind in Virginia. This year’s event will take place September 24-26, 2021 at both The Westwood Club and Salisbury Country Club and will feature over 500 local players of all levels representing a dozen local […]
Bullying does not discriminate against age, race, gender, or location. It can happen anywhere, to anyone—and Virginia schools are no exception. Despite state laws and school policies designed to prevent bullying, incidents continue to occur with disturbing regularity. Here are four real stories of bullying in Virginia that received media attention: Warren, Virginia. In October […]
RVA nonprofit attorney Eric Perkins will discuss key questions to answer before getting started , how to form a Virginia Nonstock Corporation with SCC and how to apply for recognition of tax exempt status. Attendees will also hear valuable insights and close with plenty of time to answer questions. Click here to reserve your FREE spot today!
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area. The featured nonprofit for August 2021 is ReEstablish Richmond. Perkins Law salutes ReEstablish Richmond for connecting refugees and new immigrants to the resources needed to establish roots, build community, and become self-sufficient. To learn more about this organization and […]
Virginia Community Capital recently hosted a recorded webinar, Supporting Small Businesses & Promoting Job Creation with SBA 504 Loans, featuring Zachary Petry and Chris Topping of 504 Capital. The presentation focused on what the SBA 504 loan program is and how it can be used. The SBA 504 loan program was created in 1958 to […]
When it comes to bullying, it is helpful to understand how the term is defined—not every mean, rude, or offensive act constitutes bullying (as a legal matter)—and that bullying comes in different forms. Misuse of the term diminishes the plight of victims and desensitizes the public to the magnitude and severity of the problem. Common […]
As another school year is about to begin, students and parents are busy gathering supplies, shopping for clothes, and filling out school forms. Unfortunately, there is another sad reality for many when it comes to preparing for a new school year: a discussion about bullying. While bullying can be a sensitive subject to discuss with […]
Many first-time entrepreneurs and small business owners sheepishly admit that they are bad at marketing. But marketing is involved in every facet of being a business owner—not only do you have to sell your product or service, but you also have to sell yourself to your clients. Today, the Community of Legal Innovators invited Itzik […]
If your child is experiencing bullying at school or online, let Perkins Law help your family navigate the process of finding a resolution as your advisor and advocate through a flat fee package of services.
School is intended to be a safe place focused on learning and development. However, thousands of students across the nation fall victim to bullying each and every day. Bullying is an epidemic that is linked with negative impacts on learning, health, behavior, and educational outcomes. Accordingly, in an effort to protect students, Virginia has formally […]
While the world is slowly opening again, certain aspects of the COVID-19 pandemic era seem to be here to stay (at least for the foreseeable future). In our “new normal,” hybrid and virtual modes of work are transforming the workforce. And as we continue to learn about and use virtual platforms, it is even more […]
Great presentation by local entrepreneur David Napier of New Era Healthcare at today’s 1 Million Cups Zoom meeting. New Era Healthcare is a new business that plans to address gaps in traditional healthcare by providing healthcare on-site. Through flexible, mobile healthcare, New Era Healthcare will bring the doctor’s office directly to patients and ensure that […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for July 2021 is Nolef Turns. Visit www.nolefturns.org to learn more.
The Perkins Law team ventured out to the Virginia Cliffe Inn for Encorepreneur’s first in-person event of the year, “Travel in a Post-Pandemic World”. Encorepreneur hosted three travel agents, Herb Farrar, Stacy Luks, and Betty Sedia, to highlight to changes that COVID-19 brought to their industry – hint: there have been many. Not surprisingly, the […]
Selling a franchised business presents some unique issues not typically found in the sale of an independent small business. Rather than closing a deal between two parties, selling a franchised business involves three parties: (i) the selling franchisee, (ii) the buying franchisee, and (iii) the franchisor. The sale of a franchised business often triggers certain […]
RVA nonprofit attorney Eric Perkins will discuss key questions to answer before getting started , how to form a Virginia Nonstock Corporation with SCC and how to apply for recognition of tax exempt status. Attendees will also hear valuable insights and close with plenty of time to answer questions. Click here to reserve your FREE […]
The legal profession places great value on tradition. For example, the Virginia bar exam still includes age-old Latin terms. While some of these traditions foster a sense of deep community and respect, others tend to impede the profession’s evolution. In an age of artificial intelligence and accessible online documents, lawyers need to lean into change. […]
What is a security? Many find it surprising to discover that there is no specific statutory definition of a “security” under federal or state securities law. The Securities and Exchange Commission (SEC)’s definition of a “security” includes a laundry list of approximately thirty items ranging from stocks and bonds to notes and investment contracts. In the […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for June 2021 is NAMI. Visit www.namicva.org to learn more.
There are so many wonderful nonprofit organizations throughout the Richmond area, and the Virginia Museum of History of Culture is certainly at or near the top of the list. Perkins Law is proud to be an associate member of the VMHC, and as we renew our membership for another year, we encourage you to check […]
For those exempt organizations operating on a calendar-year basis, don’t forget that your Form 990 for 2020 (whichever version you are required to file) is due by May 17th. Not to be a downer, but also keep in mind that if you neglect to file for three consecutive years, then the IRS will automatically revoke your […]
RVA small business attorney Eric Perkins will discuss business entity formations and compliance tips to help business owners reduce risk and enhance the value of their companies on June 3rd at 7pm. Attendees will also hear valuable insights and close with plenty of time to answer questions. Click here to reserve your FREE spot!
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for May 2021 is UMFS. Visit www.umfs.org to learn more.
As his 25th year law school reunion approaches, the editorial staff with the UVA Lawyer caught up with Eric Perkins as part of a feature article catching up with 5-year, 10-year, 15-year, and 25-year alumni. Check it out here!
Under current law, businesses may deduct 50% of the cost of business-related meals. The Consolidated Appropriations Act, 2021, (“CAA”) included a provision regarding the deductibility of business meal expenses to assist taxpayers impacted by COVID-19. The legislation adds an exception to the 50% limit for food or beverage expenses provided by a restaurant. Under the […]
Ever considered franchising as a path to business ownership? If so, then careful planning and research are a must. Secure a seat for the Perkins Law Prospective Franchisee Workshop on May 6th led by small business and franchise attorney, Eric Perkins. Attendees will also hear valuable insights and close with plenty of time to answer […]
As part of its effort to promote sportsmanship and greater awareness and understanding of tennis rules and regulations, the United States Tennis Association answers questions from the public each month through a new feature called “AD-Inbox” that appears in the USTA’s monthly e-newsletter “The Grip” and online at usta.com. Click here to read the latest […]
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for April 2021 is Mercy Mall. Visit www.mercymallva.org to learn more.
Perkins Law turns 12 years old this April! Serving the RVA small business and nonprofit communities has been such a rewarding experience and would not have been possible without the vast (and always growing) network of inspiring and loyal clients, colleagues, and friends that have trusted us with their transaction and compliance needs. The Perkins […]
RVA nonprofit attorney Eric Perkins will discuss key questions to answer before getting started , how to form a Virginia Nonstock Corporation with SCC and how to apply for recognition of tax exempt status. Attendees will also hear valuable insights and close with plenty of time to answer questions. Click here to reserve your FREE […]
Small business owners should never underestimate the value of loyal, talented, and hard-working employees, nor should they ever underestimate the tangible and intangible costs of employee turnover. I previously wrote about the steps small business owners should take when hiring their first employee. Once a new employment relationship has been created, focus must quickly shift […]
Earlier this year, the Virginia House of Delegates and Senate passed the Virginia Consumer Data Protection Act (“CDPA”). While the CDPA is currently awaiting the Governor’s signature, Virginia will likely be the second state (behind California) to formally adopt a consumer-friendly data privacy law. The CDPA includes several noteworthy provisions, including: Applicability. As it stands, […]
If you want your small business to be classified for income tax purposes as an S corporation for the 2021 tax year, you have until March 15, 2021, to make an election using IRS Form 2553. By electing S corp. status for your stock corporation or limited liability company (yes, you can be both an […]
If you are thinking about starting your own business in 2021, then consider signing up for an upcoming virtual SCORE workshop “How to Start Your Own Business” featuring RVA’s small business attorney, Eric Perkins. Speakers will cover such topics as: • Choosing the legal structure that’s right for you • Building a successful marketing and […]
Volatility throughout the small business community arising from the COVID-19 pandemic has led to an increase in debt collection efforts by creditors. One frequently used collection remedy is referred to as garnishment. What is a Garnishment? Garnishment is a legal process by which a creditor who is owed money from a debtor may require a third […]
For all the self-published authors throughout Virginia (and across the country), remember that royalties received as a result of creative work such as writing, music and art, is considered self-employment income and should be reported on Schedule C of your personal income tax return (i.e., book royalties are taxable income and should be reported, although […]
Ever considered franchising as a path to business ownership? If so, then careful planning and research are a must. Secure a seat for the Perkins Law Prospective Franchisee Workshop on February 18th led by small business and franchise attorney, Eric Perkins. Attendees will also hear valuable insights and close with plenty of time to answer […]
Here are a few commonly observed mistakes made by nonprofit organizations when it comes to governance and compliance. If you serve on a nonprofit board, ask yourself whether your organization could use some help addressing any of these important issues. 1. Minimal Understanding of Fiduciary Duty Concepts. A person who volunteers to serve as a director or […]
If you are thinking about franchising as a path to business ownership in 2021, then consider signing up for an upcoming virtual SCORE workshop “Become Your Own Boss Through Franchise Ownership” with featured speaker Rich Salon on Wednesday, February 3, 2021 from 6:30 – 8:30 pm. For more details and to register, click here.
The IRS made life a bit easier last year for new nonprofit organizations by requiring that all Form 1023 filings be made electronically through the online platform Pay.gov. The online Form 1203 application is substantially similar to the old paper version with the following changes: The online form is 40 pages including the schedules and […]
The limited liability company (“LLC”) has emerged as the entity of choice throughout the small business community over the past 25 years. However, for many professional service providers, Virginia offers another, yet confusingly similar, option: the professional limited liability company (“PLLC”). Because (i) the two types of entities are similar in many substantive respects, yet […]
RVA small business and nonprofit attorney Eric Perkins has been appointed to chair the United States Tennis Association’s Sportsmanship Task Force for the 2021-2022 term. The purpose of the Task Force is to: (i) collaborate with tennis industry partners to drive a culture of sportsmanship throughout the tennis community, (ii) establish a policy defining sportsmanship […]
At the end of 2020, the Consolidated Appropriations Act, 2021 was passed to provide additional COVID-19 financial relief to the small business and nonprofit community, including a second round of Paycheck Protection Program (PPP) funding (PPP Second Draw Loans). By way of background, on March 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act […]
1. International Franchise Association. Arguably the premier membership organization of franchisors, franchisees, and suppliers to the franchise industry, this organization and its web site offer a wealth of information about all aspects of franchising. 2. Blue MauMau. The self-proclaimed #1 Franchise News Journal on the Web, this site provides a wealth of franchise industry news, […]
Henrico small business attorney Eric Perkins has been selected to the Virginia Super Lawyers List for 2021 in the Business/Corporate Law category. Only 5% of Virginia lawyers receive this distinction each year. The Top 50: 2021 Richmond Super Lawyers Top List will be available on May 6, 2021.
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2020. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 18 different practice areas.
“GivingTuesday was created in 2012 as a simple idea: a day that encourages people to do good. Over the past seven years, it has grown into a global movement that inspires hundreds of millions of people to give, collaborate, and celebrate generosity. Whether it’s making someone smile, helping a neighbor or stranger out, showing up […]
Are you a franchise owner who has decided it is time to sell your franchised business? Before posting that “for sale” sign, there are a lot of preliminary issues to address before you can expect to attract a qualified buyer and successfully navigate to a closing date. Selling a franchise is a little different than […]
Click here to register.
As a nonprofit organization evolves and its leadership team changes over time, moving the organization’s legal home from one state to another may be a relevant topic of consideration. In some cases, leadership may decide for one or more reasons to re-domesticate to another state. For example, compliance requirements in the organization’s original home state […]
To say we will remember 2020 as an unusual time is quite an understatement. As the COVID-19 pandemic continues to disrupt our professional and personal lives as we know it, Virginia nonprofits are figuring out how to operate in this “new normal” of social distancing and stay-at-home orders. Accordingly, nonprofit leaders are faced with answering […]
The Rebuild VA Grant Fund is a program to help small businesses and nonprofits whose normal operations were disrupted by COVID-19, including restaurants, brick and mortar retail, exercise and fitness facilities, personal care and personal grooming services, entertainment and public amusement establishments, and campgrounds. Businesses with less than $10 million in gross revenue or fewer […]
Putting all of your eggs in one basket is rarely a good idea. This is especially true when deciding where to invest your money. Over the past fifty years, an increasing number of investors have ventured into what are referred to as “angel investments.” Generally speaking, angel investors fund the early stages of a privately […]
Today’s competitive marketplace requires businesses to build and maintain a positive reputation and image. But, with the advent of social media, companies are forced under a magnifying glass of worldwide proportions. A company’s brand and reputation can suffer significant and immediate damage when a scandal erupts involving a high-level executive, a franchisee, or a professional […]
Perkins Law Salutes: Lori Jennings, owner of Jennings PROSearch, recipient of the prestigious RVA Tech Chairman’s Award presented by the Richmond Technology Council at the organization’s recent 25th anniversary gala. The award is presented annually to an individual or organization that has made a significant impact in technology growth in the region and/or advocate of […]
The U.S. Small Business Administration (SBA) released last week a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide helpful relief to the small business community. The PPP provided more than five million loans worth $525 billion to small businesses with […]
The process of closing a Virginia small business can range from very simple and straightforward to extremely complex, expensive, and time consuming, depending upon the surrounding facts and circumstances of the business. Just reaching the decision to dissolve a small business can be a painstaking process. Tough questions to ask yourself include: How long have […]
The new 0.7% regional retail sales and use tax went into effect last week on October 1, 2020. This new tax applies throughout Central Virginia (including the city of Richmond, Charles City, Chesterfield, Goochland, Hanover (including the town of Ashland), Henrico, New Kent and Powhatan counties). The new tax brings the total sales tax to […]
The Problem You are trying to successfully navigate the many challenges of small business ownership and one day you discover, much to your dismay, that incorrect information was inadvertently reported on Form SS-4 to the IRS (or perhaps the IRS made a mistake inputting the data at its end). How does this realization usually come […]
For companies launching a new franchise system, Perkins Law can provide cost-effective legal assistance: Preparing necessary documents for the offering and sale of franchises Drafting Franchise Disclosure Documents (FDDs), franchise agreements, and area developer agreements Managing regulatory compliance relating to the sale of franchises Navigating disclosure issues, marketing issues, and compliance with state registration laws […]
Small business owners negotiate on a daily—if not hourly—basis concerning a wide variety of matters. Most of these negotiations take place quickly and informally, but some business transactions and relationships are important enough to memorialize in writing through a written contract, so here are a few tips for small business owners to consider when it […]
“The objective of F.A.D is to create awareness to increase customers knowledge of the importance of using social media networks and location-based services to connect with, and continue to support local franchises. Customers will receive discounts and giveaways to enjoy a day in support of their favorite franchises. Franchisers will show appreciation to the customers […]
RVA small business and franchise attorney Eric Perkins has been selected by peers in the legal community to be included in the 27th edition of The Best Lawyers in America for his work in franchise law for the 11th year in a row. With over 20 years of experience representing franchise systems and franchise owners, […]
A new .7% regional retail sales and use tax will be imposed in Central Virginia (including the city of Richmond, Charles City, Chesterfield, Goochland, Hanover (including the town of Ashland), Henrico, New Kent, and Powhatan counties. This new tax will bring the combined total sales tax to 6% (consisting of the 4.3% sales tax, the […]
Last month, Virginia became the first state to approve binding regulations related to COVID-19 workplace safety. The regulations impose extensive requirements on Virginia businesses that have at least one employee (a term which itself is broadly defined), and these regulations are now in effect. Last month, Virginia became the first state to approve binding regulations […]
Given the potentially disastrous consequences of misclassifying workers—especially considering recent developments under Virginia law that shift certain presumptions against business owners and create private rights of action relating to worker classification issues—every independent contractor relationship should be carefully analyzed, structured, and documented. I. Preliminary Due Diligence Before entering into the working relationship, the hiring company […]
The Rebuild VA Grant Fund is a program to help small businesses and nonprofits whose normal operations have been disrupted by COVID-19, including restaurants, retail, exercise and fitness facilities, personal care and personal grooming services, entertainment and public amusement establishments, and campgrounds. Businesses and non-profits that are approved for a Rebuild VA grant may receive […]
In honor of #NationalSocialMediaDay (June 30, 2020): It is safe to say we now live in the era of social media networking. If your nonprofit organization has not yet jumped on the bandwagon and started to take advantage of the many opportunities presented by social media networking, then it is time to wake up and […]
With lowering restrictions and more people venturing outside of their homes across Virginia, small business owners in the process of reopening are wondering how they can protect themselves from COVID-19-related liability risk. In many cases, owners are requiring customers to sign a “virus waiver” as a risk management strategy. However, liability waivers for COVID-19 exposure, […]
This summer marks the 10-year anniversary of RVA finishing in the top 3 in the USTA’s national contest to determine “America’s Best Tennis Town”. To mark the occasion, the Richmond Tennis Association commissioned a 2020 update to its 2012 book chronicling over 100 years of Richmond tennis history, and here for the very first time […]
Earlier this month, President Trump signed the Paycheck Protection Flexibility Act. Then on June 17, the Small Business Administration (“SBA”) released a revised loan forgiveness application for the Paycheck Protection Program (“PPP”) and, in addition to the revised application, the SBA also released a new EZ application also applicable for forgiveness of PPP loans. Revised […]
A recommended book for anyone wanting a pragmatic crash course on franchising — Street Smart Franchising by Joe Mathews, Don DeBolt, and Deb Percival. This book offers excellent advice on all aspects of building a successful franchised business. The authors do a fantastic job identifying and addressing key concerns shared by many first-time franchise owners. […]
Thanks to the Covid-19 pandemic and its resulting quarantine, Douglas Conant and Mette Norgaard’s book, TouchPoints, has taken on even more significance than it originally had when first published in 2011. During these unpredictable times, the manner in which people communicate has changed. Video conferencing has become the “new norm”, and many people are having […]
QUESTION: My boss just handed me an employment agreement and wants me to sign it ASAP, why spend the time and money to have a lawyer review it? ANSWER: Generally speaking, courts in Virginia will hold people to the contracts they voluntarily sign. Therefore, it is important that you understand the terms and conditions of […]
Perkins Law is excited to announce its sponsorship of the upcoming American Clay Court Nationals taking place June 21-25, 2020 at The Greenbrier in White Sulphur Springs, WV. The week-long tournament marks the unofficial reopening of the American junior tennis circuit and is expected to attract the nation’s top juniors in the 18-under and 16-under […]
The ongoing response of the federal government to the COVID-19 crisis to protect the small business community continues to evolve. Last week the Paycheck Protection Program Flexibility Act of 2020 was signed into law. The Act significantly amends the Paycheck Protection Program (“PPP”) by giving small business owners that received PPP loans more freedom in how and […]
When was the last time you spent some quality time reviewing the legal and compliance condition of your business? You might be surprised by what you discover. Even if you discover a compliance issue or problem that had been overlooked, much better to identify and address it now in the regular course of business rather […]
As part of its ongoing efforts to educate and assist small business owners and entrepreneurs across America, SCORE has recently released a helpful checklist of tips and resources for small business owners as they implement their reopening strategies and adapt their business models to the new reality. Click here to download your copy.
Once a startup business is formed and starts generating a profit, owners are faced with the decision of how to begin withdrawing money from the business. Owners that decide to start drawing a salary are faced with an often-controversial issue of determining how much to pay themselves. According to Payscale’s data collected from 2019, American […]
A new program, ForwardRVA, has been organized by Chamber RVA and local business, government, and community leaders to provide resources to support local businesses in reopening and operating safely. Specifically, ForwardRVA is offering free Personal Protection Equipment (PPE) starter toolkits for any RVA small business with 25 or fewer employees that has remained open or […]
If you are one of the millions of fortunate small business owners who obtained a PPP loan in this massive $600+ billion program, it is now time to start getting your ducks in a row to apply for loan forgiveness with the recent SBA release of its template PPP Loan Forgiveness Application, a copy of […]
The legal distinction between an employee and an independent contractor has confused and frustrated business owners, attorneys, and accountants for many years. The purpose of this article is to provide some guidance for business owners and explain why it is important to correctly classify workers. If you are a business owner, it is to your […]
As a follow up to a recent post about concern and confusion among many small business owners about whether they should consider returning their PPP loans this month, those concerns should largely disappear thanks to a newly published PPP FAQ on Department of Treasury website on May 13, 2020, which provides as follows: Question: How […]
If you are thinking about starting a new business with one or more business partners, you have a variety of choices in terms of selecting a legal structure for the business. A partnership is the simplest and perhaps the oldest type of business structure. In fact, it is so easy to create (e.g., there is […]
What are some advantages of using a written employment agreement with a key employee?
Small business owners across America have scrambled over the past month to obtain over $5 billion in PPP loans with the promise that such loans will be forgiven if proceeds are used to retain employees and cover certain types of business expenses defined by the CARES Act and subsequently released interpretive guidance. While the SBA […]
The Paycheck Protection Program (PPP) is a massive loan program designed to incentivize small businesses to retain staff during the COVID-19 pandemic. Aside from the immediate infusion of capital to help address short-term cash flow concerns, a primary feature of the program is that the Small Business Administration (SBA) will either partially or fully forgive […]
Thumbs up to ChamberRVA for its RVA Small Business Relief Fund, a new program intended to provide unrestricted grants to qualifying businesses in the Richmond Region impacted by COVID-19. The Fund is made possible through a partnership between ChamberRVA and Facebook, which contributed $250,000 to seed this first round of funding. The Fund is intended […]
Most entrepreneurs and real estate developers/investors now acknowledge that the limited liability company (“LLC”) has become the entity of choice for many business and investment purposes. Offering the dual advantages of limited liability protection (like a corporation) and pass-through tax treatment (like a partnership), LLCs seem to combine the best attributes of both corporations and […]
Virginia is one of the fourteen states that require franchisors to successfully complete a formal registration and review process before they are permitted to legally offer franchises for sale. While the process is reasonably straightforward with detailed guidance available on the applicable requirements, forms, etc., there are a variety of mistakes made that cause delay […]
Effective January 1, 2020, the Clerk’s Office of the State Corporation Commission became the central filing office in Virginia for all certificates of assumed or fictitious name, effectively streamlining the previous two-step process into a one-step process. The initial step of filing a Certificate of Assumed Name with the circuit court clerk of the city […]
Contests and sweepstakes are popular marketing tools in today’s economy as businesses compete for market share and publicity. Unfortunately, many business owners fail to realize that a variety of federal and state laws regulate these activities, and violating these laws could lead to significant liability for the unsuspecting sponsor. For example, the contest must be […]
QUESTION: What is “ADR” and should ADR language be included in my business contracts? ASNWER: The term “ADR” refers to alternative dispute resolution—methods of resolving disputes outside of court. In my experience, resorting to litigation is generally a horribly inefficient way of resolving problems. Litigation is expensive, time-consuming, and stressful. Business owners should never underestimate […]
Question: My family is giving me money to fund my business startup, do I need to put anything in writing? Answer: Startup financing from “friends and family” is very common, but usually handled very poorly. The more these transactions are handled and documented in a business-like fashion, the more likely both the business and personal […]
1. What is it? Business interruption insurance is insurance to cover losses when your business is unable to operate for specified reasons beyond your control. In the context of commercial real estate, it is not unusual for landlords to obligate tenants to carry this insurance (landlords often carry their own business interruption coverage too). As […]
Question: If a Virginia nonprofit organization suspends its operations for a few months in response to the COVID-19 pandemic, is it required to notify the IRS? Answer: No. The IRS has no special reporting requirements for organizations that go dormant (i.e., suspend their operations). There is a question on the annual IRS Form 990 about […]
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) recently passed by the U.S. Senate and House and signed by the President creates a specific loan program through the Small Business Administration (“SBA”) to help small businesses retain employees and pay critical expenses during this unprecedented crisis. Under the “Paycheck Protection Program”, the SBA’s […]
Question: I have an existing 7(a) SBA business loan. Am I eligible for any relief? Answer: Yes. Starting no later than 30 days after the date on which the first (next) payment is due, the SBA will pay all principal, interest, and fees on existing SBA loans for 6 months pursuant to 7(a), Community Advantage, […]
An unpleasant surprise that sometimes pops up in the days leading up to closing in small business acquisitions involving SBA financing is the SBA Standby Agreement (also known as SBA Form 155). As a condition of loan approval, some SBA lenders require that the seller execute an SBA Standby Agreement with respect to any seller […]
The short answer is “YES”, a nonprofit organization is allowed to provide financial aid and other assistance (e.g., meals, PPE) to groups and organizations that are NOT 501(c)(3) exempt organizations so long as the assistance is provided and used for charitable purposes. For example, if your nonprofit desires to provide meals to emergency room and […]
Thumbs up to the Retail Merchants Association for announcing a special program to benefit the RVA small business community. Branded as “Retail Relief 2020”, RMA is offering free membership to all local retail businesses for the next six months as part of this new initiative. A valuable resource at a crucial time. Click here to […]
Millions of small business owners are currently applying for loans in one of the new SBA emergency loan programs related to the COVID-19 crisis (e.g., EIDL and PPP loans). Apparently, one of the due diligence documents lenders are asking loan applicants to provide with their applications is a document referred to an “EIN Letter” or […]
Every business has a name, and sometimes, for various reasons ranging from a rebranding campaign to a change in ownership, the name changes. If the business operates through a legal entity, such as a Virginia LLC, then an it changes its name by filing an amendment to the Articles of Organization with the State Corporation […]
The Department of Homeland Security (DHS) granted a temporary lifeline to employers struggling with I-9 compliance logistics while operating remotely. Believe it or not, while millions of small businesses are having to cut staff, there are employers in essential fields who are still hiring new workers. The question being asked by many owners is, with […]
I’ve been an RTD subscriber since moving to Richmond in 1996, and while I did convert to a digital subscription last year, I continue to enjoy the RTD and appreciate its value to the RVA community. It appears they are currently running an attractive promotion featuring an introductory rate of $1/month for new digital subscribers. […]
The President signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 27, 2020. Title I of the CARES Act, the Keeping American Workers Paid and Employed Act, expands both the Small Business Administration’s (SBA) Section 7(a) loan program and its Section 7(b) economic injury disaster loan program (EIDL) to provide small […]
The Virginia Small Business Development Center (SBDC) Network has 27 local centers across the state. You can get free help from SBDC professional business advisors by clicking here. Please contact them directly to schedule a phone call or virtual meeting to get started as soon as possible. You can also find information and additional webinars […]
As perhaps an unintended consequence of the emergency legislation passed by Congress last week, many small business owners might conclude that they need to rush formal termination notices to their employees before April 1, 2020. The Families First Coronavirus Response Act (“FFCRA”) creates an emergency sick leave benefit and also modifies the Family Medical Leave […]
As we all brace for the full impact of COVID-19 to hit the United States and the economy, here are a few resources for small business owners to consider exploring: Small Business Administration Economic Injury Disaster Loan Program. The SBA has announced it will work directly with state Governors to provide targeted, low-interest loans to […]
The Coronavirus Disease 2019 (COVID-19) has now affected all of us in numerous ways, from the interruptions to our daily routines, to fears of contagion; from our concern for the medical professionals on the front lines, to escalating our sanitation practices and social distancing. The CDC is responding to this pandemic of respiratory disease spreading […]
The Virginia SBDC network is hosting a webinar TODAY (Monday, March 23) from 2:00-2:45 pm for their partners to review the application process for SBA Economic Injury Disaster Loans (EIDL) available for Virginia small businesses and nonprofits. Click here to attend the Webinar Meeting ID: 606 202 441 Phone – 646 558 8656 Virginia SBDC […]
Well the first quarter has certainly taken an unexpected turn for the entire planet, hasn’t it? A dangerous, stressful, and disruptive time for everyone. Public health and safety rightfully takes top priority; therefore, my first suggestion for small business owners in responding to this public health crisis is very simple: abide by the directives and […]
Regulation D is a series of transactional, safe harbor exemptions from the registration requirements under the Securities Act of 1933. Generally speaking, when a business owner wants to raise capital from passive investors, the offer and sale of a security will often be involved. Both federal and state law regulate the offer and sale of […]
As recently reported in local media, the State Corporation Commission rolled out a new online filing system (known as the Clerk’s Information System or “CIS”) to replace the former efile system in December 2019. Suffice to say, it has not been a smooth transition for many small business owners and professionals throughout Virginia. Small business […]
A significant portion of the world is in the midst of a COVID-19 health crisis. While public safety and health are rightfully the top priorities, there are many questions swirling around the impact this public health crisis will have on the business and nonprofit communities. One major concern relates to contractual obligations and business transactions—will […]
If you haven’t checked out the RVABizLaw blog recently, here are a few of the updates you’ve missed: Are franchise agreements automatically and unconditionally renewable? What is Phantom Equity? How can small biz owners minimize liability risk when disciplining employees? How nonprofits sometimes accidentally convert volunteers into employees. Visit RVABizLaw for regular updates, tips, and […]
The distinction between “issued and outstanding” shares of a corporation as compared to “fully diluted” shares is important when analyzing ownership percentages and the way proceeds would be distributed if the corporation were acquired by a third party. Ownership can be calculated in the following two different ways. Issued and Outstanding Shares When a corporation […]
I recently read a great book for small business owners and entrepreneurs called Let Go to Grow, written by local business/management consultants Doug and Polly White. The book was first published in 2011, so my apologies for being a little tardy, but the many helpful pearls of wisdom in this book are timeless. You can […]
No, there is no such guarantee. Most Franchise Agreements do, however, provide for at least one renewal option, subject to laundry list of conditions (payment of a renewal fee, execution of the then-current form of Franchise Agreement, execution of a general release in favor of the franchisor, among others). This represents yet another reason why […]
Thumbs up to Richmond’s SCORE for another great networking event last week at Capital Ale House. Always fun to catch up with local entrepreneurs and small business owners and hear about the latest SCORE workshops & mentoring opportunities. Valuable business community asset!
Q: A neighbor’s house recently burned to the ground and I started a GoFundMe page to raise funds to help the family cover living expenses and replace some of their belongings destroyed in the fire. Are the contributions tax-deductible charitable gifts? A: While certainly an altruistic gesture, donations to help the family recover are not […]
Last Friday’s RMA Friday Forum breakfast at The Westin was as festive and informative as always, featuring Snagajob’s Kristi McKissick and Christy Conner sharing insights from the company’s recent annual survey of hourly workers. The “Big 3” takeaways for me were: 1. The largest age group of hourly workers is actually Gen X, and while […]
Incentivizing and retaining key employees should be a priority for small business owners. Many owners are understandably reluctant to give away equity, thereby turning a key employee into a business partner, but there are many attractive alternatives to consider. A phantom equity plan, for example, provides a key employee a financial award that is tied […]
Have you renewed your local business license for 2020? Don’t procrastinate and risk missing the renewal deadline (March 1st for Henrico County, Chesterfield County, and City of Richmond). Penalties, interest, and believe it or not, criminal penalties can apply if you don’t renew in a timely fashion. Perkins Law offers a flat fee service package […]
When drafting business contracts, try to avoid using “and/or” at all costs. There are at least six different ways of construing a contract clause featuring “and/or,” so you are not doing yourself (or a judge trying to interpret your contract) any favors by including such an ambiguous term. If the applicable provision includes two alternatives […]
Business owners make dozens of business decisions all day, every day. In some cases, these decisions involve how to address an employee’s poor performance, misconduct, or a violation of company policy. Disciplining employees is the least enjoyable aspect of being a business owner for many people, but consistently enforcing company policies and quickly addressing problems […]
Perkins Law was proud to be a sponsor of the Goochland Chamber’s annual social event hosted by Drive Shack. Enjoyed a festive evening with nearly 75 other area small business owners and professionals. Thumbs up to the Chamber of Commerce team and Drive Shack staff for their hospitality!
I had a great time at the most recent Friday Forum organized by the Retail Merchants Association. The featured speaker was Brand Federation’s Kelly O’Keefe and he focused his remarks on common marketing myths and mistakes. While his examples came from recognizable brands and large public companies, the concepts apply to businesses of all shapes […]
So who is your registered agent? Every business entity formed in Virginia is required to have a registered agent. While the registered agent is really just a ministerial function (i.e., an official point of contact for a Virginia LLC or corporation who receives correspondence from the SCC and other state agencies and service of process […]
A cultural shift of tectonic proportions seems to be emerging right before our very eyes, and many would agree such an awakening is long overdue. The issue is sexual harassment and, in some egregious circumstances, sexual assault. Every business with employees, no matter how small or large, should absolutely have a clear and concise anti-harassment […]
Nonprofit organizations often struggle recruiting and retaining volunteers, and they try valiantly to come up with creative ways to recognize and reward those individuals who generously contribute their time and talent to the organization. Nonprofits need to be careful that they do not inadvertently create employment relationships or trigger taxable events in this context. Let’s […]
It is a morbid thought, but have you ever read an obituary and wondered what yours will look like? Well, why not be proactive by either drafting your own obituary (I prefer the term “final press release”) or jotting down a few notes as to what you would like to see included. Click here for […]
The U.S. Securities and Exchange Commission (SEC) recently proposed new rules to expand and clarify the definition of “accredited investor” under the U.S. Securities Act of 1933. Among other things, the rules would open private capital markets to a potentially wider group of individuals and entities, making Regulation D private offerings available to more people […]
Franchising is regulated by both federal and state law, and these laws are on the books primarily to protect franchisees. At the federal level, the FTC Franchise Rule imposes disclosure requirements that apply to the offer and sale of franchises. At the state level, Virginia law imposes registration and relationship laws. Before being allowed to […]
In most cases, no, at least not directly. One of the advantages of LLCs is a concept called pass-through taxation. This means the LLC itself does not pay federal income tax, its owners do. Income, profits, deductions and losses “pass through” the LLC and get reported on the owners’ respective tax returns. The default rules […]
This is also known as a “d/b/a” or “doing business as” filing. If you plan to do business under a trade name that is different than the legal name of your business entity, then you are required to file a Certificate of Assumed Name with the clerk of the circuit court in the city or […]
What are some pros and cons of having a small business owner continue to stay involved with the business as an employee or agent of the buyer in some capacity post closing? From a buyer’s perspective, it can be beneficial to negotiate an employment or consulting agreement with the seller to ensure his or her […]
Startup nonprofits often face a tough fundraising challenge during their first year or two of existence. The organization desperately wants to begin operations in pursuit of its charitable mission before they receive formal approval of their tax-exempt status but they have legitimate questions and concerns about funding until they receive that all-important IRS determination letter […]
Virginia nonprofit corporations are required to designate a registered agent. The purpose of a registered agent is to provide an actual, physical point of contact and mailing address (i.e., a street address as opposed to a P.O. Box) where an organization can be contacted or served with notice of a lawsuit or other legal action. […]
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2019. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 18 different practice areas.
Ever hear someone say, “it is much more expensive to clean up a mess than to do it right the first time around”? Well, it is usually true. Every so often a new client reaches out for help after they have tried to set up a new business entity on their own through one of […]
It is not surprising that a restaurant selling alcohol needs a liquor license or that a construction company needs a contractor’s license before it can start building houses or office buildings. But many business owners in different industries often fail to realize they need to have a particular license before they can legally open for […]
Very honored to have been inducted into the Richmond Tennis Hall of Fame as a part of the class of 2019 this past Saturday night. Such a blessing to have discovered my life’s passion when I was eight years old. Still many more tennis adventures to enjoy on and off the court!
The RVA craft brewery scene has been quite prolific in recent years with no immediate signs of slowing down. As these startups mature into emerging growth companies (or simply look to maintain their market share in an increasingly competitive marketplace), raising capital becomes a major topic of strategic planning and discussion. The good news is […]
Your efforts as a “solopreneur” are paying off and you are looking to hire your first employee to help manage the growth of your business. While not an exhaustive treatise on all conceivable laws and regulations that govern the employment relationship, here are fifteen tips to help you navigate through the hiring process. 1. Set […]
The Virginia Division of Securities and Retail Franchising (“Division”) has recommended to the Virginia State Corporation Commission (“Commission”) that certain revisions to the Virginia Franchise Rules (“Rules”) be considered for adoption effective January 3, 2020. The proposed change to the Rules adopts the new Franchise Disclosure Document cover sheets and state effective dates page as […]
Smart entrepreneurs conduct business through separate business entities such as LLCs or corporations in order to enjoy limited liability protection (personally) from debts and obligations of the business. However, the reality of small business ownership is that, as an owner, you likely will be required to sign personal guarantees for many of your company’s most […]
A commonly asked question by entrepreneurs and prospective small business owners during initial brainstorming sessions is “Should I go with an LLC or an S corp.?” Well, for many Virginia small businesses, the optimal answer is BOTH. You can own and operate your business through a Virginia limited liability company AND file an election to […]
What is a 501(c)(6) Organization? Section 501(c)(6) of the Internal Revenue Code (the “Code”) offers tax-exempt status to trade associations, business leagues, chambers of commerce, real estate boards, boards of trade, and professional football leagues, among other similar types of organizations. These organizations are not organized for profit and no part of their net earnings […]
For an inactive nonprofit organization that is not engaged in any formal activities or fundraising efforts, there is no reason to have a functioning “Donate” or “Donate Here” button on its website as it only creates risk (albeit not significant risk) and potential problems (i.e., what would the organization do, for example, if it received […]
Selecting a franchise opportunity can be the most important business decision of your life. On top of that, at any given point, there are over 3,000 franchise opportunities being offered for sale (although only about half that amount are registered and available for sale in the Commonwealth of Virginia). There are many issues to consider […]
Several times each year our 501(c)(3) organization raises funds for a specific cause (or other charity) through a special event or a raffle. Once the event takes place, how long do we have to submit the funds to the designated charity? There is no specific deadline, but funds should be distributed within a reasonable time. What […]
Every small business is a “family business” regardless of how legal ownership is structured or whether or not family members are actively involved in the business. An entrepreneur ignores this bit of reality at his or her peril.
People often ask about making donations to support individuals or families victimized by a tragedy, medical emergency, or natural disaster, and are surprised to learn that gifts earmarked for specific individuals are not tax deductible as charitable contributions. The basic rule set forth under the Internal Revenue Code and confirmed by court decisions is that […]
Here are a few commonly observed mistakes made by nonprofit organizations when it comes to governance and compliance. If you serve on a nonprofit board, ask yourself whether your organization could use some help addressing any of these important issues. 1. Minimal Understanding of Fiduciary Duty Concepts. A person who volunteers to serve as a director […]
A Quick Introduction to Insurance for the Virginia Small Business Owner
Seller financing is a common strategy in small business acquisitions to get deals done that otherwise would not be possible. Simply put, seller financing is a loan made by the seller of a business to the buyer to cover all, or a portion, of the total purchase price for the business. Seller financing offers both […]
Thank you to the Bon Secours Richmond Health Care Foundation and the Bon Secours Memorial College of Nursing for hosting the annual luncheon last week at CCV allowing nursing scholarship sponsors and recipients to meet for the first time and learn more about what has attracted these talented, dedicated, and hard-working individuals to the nursing […]
There have been a series of changes over the past year in the Treasury Regulations that likely impact your old LLC Operating Agreement. One change is that there is no longer a “tax matters partner” (also referred to as a tax matters member) which you will see in most operating agreements (at least for multi-member […]
Virginia law does not prohibit employees from serving on the board of directors of the nonprofit organization for which they work. But while it may be legal, it is relatively unusual for charities to have paid staff on the board on not considered a best practice from a governance perspective. The concerns relate to the […]
Managing risk is a critical part of owning a small business. Entrepreneurs manage risk every day in a variety of ways. Insurance is a key component of any risk management strategy, and small business owners should seek assistance from experienced insurance professionals during the early stages of starting a business. Effective risk management not only […]
Richmond small business law firm Perkins Law, PLLC is pleased to announce its sponsorship of the 2019 Jazz Nativity hosted by Gayton Baptist Church. The show brought together close to 3,000 people in 2018 and is expected to have record attendance in 2019. With the proceeds from Jazz Nativity, Gayton Church has packed a total […]
Embarking on life as an entrepreneur? Enjoy the ride, you are in for a memorable experience! For small business owners, there is never a shortage of important issues to consider, risks to manage, ideas to explore, concepts to learn, and details to address. Legal and compliance issues are hopefully at or very near the top […]
1. PTO is NOT legally required. Neither federal nor state law requires an employer to provide its employees with vacation days or other form of paid time off. Interesting to note that employers aren’t legally required to even provide paid time off for lunch or breaks during the work day (expect for employees under the […]
For a prospective franchisee, “discovery day” is often the critical moment when the ultimate decision is made to enter into a franchise relationship. Both franchisor and prospect evaluate each other during a full day (sometimes longer) of meetings, interviews, meet-and-greets, office tours, and other activities. Most franchise systems conduct discovery day events in a very […]
Successful business ideas can come from anywhere. Many popular, widely-used products have very unusual origins. Take the treadmill for example. This standard feature of any modern fitness center is actually based on a torture device used in prisons in the 19th century and affectionately referred to as the “everlasting staircase”. According to an article by […]
There is no question that building your brand online requires commitment and time, but it can be done at reasonable expense (and with minimal technical expertise), and the potential benefits from a marketing and business development perspective are enormous. Click here to view a list of questions designed to serve as an informal self-assessment of your […]
Having key employees sign written Noncompete Agreements does little to protect an business owner unless the owner is prepared to take action to enforce the company’s rights. Employers should treat departing employees with noncompetes in a consistent way by (i) reminding them of their continuing obligations upon termination, (ii) promptly sending “cease and desist” letters […]
Many entrepreneurs and small business owners will spend hours scouring the Internet searching for answers to the litany of legal questions that arise on a weekly—if not daily—basis in the course of running a business. The desire to avoid legal fees is understandable. Sometimes legal issues are in fact relatively straightforward and can be answered […]
You own and operate a North Carolina LLC and are ready to expand your business into the Commonwealth of Virginia. Maybe you are a general contractor based in Maryland and just won a contract for a long-term project in Virginia. In terms of business entity compliance, an LLC or corporation formed outside of Virginia is […]
Can the organizers of a newly formed 501(c)(3) exempt organization take a tax deduction for personally paying the organization’s expenses during its first year in operation? Yes. A donor may claim a deduction for contributions made “to or for the use of” a charitable organization. The organization should acknowledge the payments and confirm in writing […]
For most small business owners, the idea of even considering a succession plan pops to mind only when tragedy strikes or the owner starts giving serious thought to retiring or otherwise getting out of the business. However, succession plans have much better outcomes when owners plan for them in advance. Here are five issues to […]
RVA small business and franchise attorney Eric Perkins has been selected by peers in the legal community to be included in the 26th edition of The Best Lawyers in America for his work in franchise law for the 10th year in a row. With over 20 years of experience representing franchise systems and franchise owners, […]
RVA Small Business and Nonprofit law firm Perkins Law, PLLC is excited to announce its new sponsorship of the River City Open, the largest NCAA Division I men’s tennis event in the area. Organized by the River City Tennis Foundation, a local charity promoting tennis throughout the city, the tournament will feature players from some […]
When negotiating the acquisition of a small business, one of the most important issues to address during the due diligence process is confirming whether the current business owner owns or leases its business office or retail location. When the business operates from a leased location, the potential buyer and seller necessarily must negotiate with the […]
A 501(c)(3) exempt organization risks losing its exempt status it “participates” in a political campaign. The IRS has said that it is not a participation in a political campaign if a candidate rents space or facilities from a charity that is available to the general public and the candidate gets no favorable rate. It would […]
Small business acquisitions and sales are monumental transactions for the average entrepreneur. The process will be filled with dozens of important decisions, discussions, documents, and logistics. Some deals are negotiated and closed within a month, while others can drag on for a year or more. One of the early decisions to make is how the […]
Richmond SCORE’s First Step Workshop for Entrepreneurs and Prospective Business Owners is coming up this Thursday, August 8, 2019 from 8:30 am – 4:00 pm. RVA small business attorney Eric Perkins will discuss business entity formations and compliance tips to help business owners reduce risk and enhance the value of their companies. Attendees will also […]
One preliminary issue to address when forming a nonprofit organization—and a common source of confusion—is whether the new organization will be a public charity or a private foundation. In my experience, most nonprofit organizers are looking to create public charities, not private foundations. Only when dealing a wealthy individual, family, or large company does the […]
While millions of civic-minded, passionate individuals volunteer their valuable time and talent each year to serve on nonprofit boards, the pertinent question not asked often enough is “How engaged is our board of directors?” If you are currently serve on a nonprofit board of directors, take this simple quiz to assess how engaged you are […]
The offer and sale of securities is regulated by both federal and state law. At the federal level, securities can only be offered or sold pursuant with a registration statement filed with the Securities and Exchange Commission (“SEC”), or in accordance with an applicable exemption from the registration requirements. When small business startups raise capital […]
If you have ever considered starting a nonprofit organization, the process can be intimidating given the complicated terminology, legal, tax, compliance, governance, fundraising, and other issues that need to be addressed throughout the life of the organization. Click here for a short outline highlighting some of the fundamentals of forming a nonprofit organization in Virginia. Perkins […]
Short Pump Rotary installed new officers for 2019-2020 yesterday at Capital Ale House. (pictured are Eric Perkins, Secretary, Micky Ogburn, President, and District 7600 Area Governor Sarah Perkins).
Responsibility for the day-to-day management of a Virginia corporation resides with the corporation’s directors and officers. The Virginia Stock Corporation Act offers more flexibility than most people realize, however, to structure the management and governance of a Virginia corporation. In effect, this is an attempt to keep the corporate statute “competitive” with the flexibility afforded […]
The Perkins Law team invites you and your family to enjoy a fun evening of Flying Squirrels baseball. As a sponsor, we have a generous allotment of tickets to share with our clients, friends, and colleagues (on a first come first serve basis) and invite you to join us! Please click here to reserve tickets […]
Virginia law requires any LLC or corporation formed in Virginia (or any out-of-state business entity conducting business in Virginia) to designate a registered agent in its formation documents. The role of registered agent is ministerial, akin to an official mailbox or point of contact for a business entity. SCC notices and related correspondence from government […]
Small business owners should have written policies concerning employees’ use of company computers, emails, and telephones. Federal and state law give employers quite a bit of flexibility when it comes to monitoring employee emails and phone calls while at work. Best practice is to have a written policy describing and employer’s expectations, requirements, and authority […]
A vibrant food truck community has emerged in RVA over the past decade. Seemingly every local event is anchored by a growing variety of independently owned mobile food operators. Why have food trucks become so popular amongst food service entrepreneurs? For starters, the typical cost of starting a food truck is dramatically lower than a […]
I have called Richmond, Virginia home since 1996 when I moved here after graduating from law school to start work as a lawyer. While my family and I have very much enjoyed all aspects of life in RVA over the years, never have I felt more civic pride and sense of community than this past […]
Eric will discuss the importance of doing business through a separate business entity, why LLCs have become the entity of choice for the small business community, business succession planning strategies, and ways to reduce the risk of getting embroiled in costly litigation over business disputes on Thursday, August 8th during his portion of the SCORE […]
Business attorneys often hear some version of the following confession from their clients, “Oh I just used a contract template that I found online.” Statements like this evoke mixed emotions because (i) there is no such thing as “one size fits all” in the world of business contracts–each business transaction or relationship has its own […]
Most entrepreneurs realize that when starting a new small business, the smart approach is form a business entity through which to conduct the business. While Virginia offers a number of different options, the limited liability company has emerged over the past 25 years as the most popular choice of entity in the small business community…and […]
The word “franchise” comes from a medieval French term “francis” which meant to grant rights or privileges to peasants. In the Middle Ages, a local lord would give others the right to hunt, hold markets and fairs, or engage in other activities on his land. These were the earliest franchise relationships and gradually evolved through […]
Consider Eric Perkins with Perkins Law, PLLC!
Most people use the terms “nonprofit” and “tax-exempt” interchangeably. Legally speaking, however, the terms have different meanings. The term “nonprofit” generally refers to provisions of state law that authorize the formation of nonprofit or nonstock corporations. In this context, the term “nonprofit” indicates a specific organizational structure recognized under state law. The term “tax-exempt” relates […]
Question: I know there is a relatively new and simplified Form 1023, called Form 1023-EZ, to use in applying to the IRS for 501(c)(3) exempt status. It requires assets less than $250,000, and forecasted revenue less than $50,000 for the current year and the next two. What happens if an organization files Form 1023-EZ, gets […]
Question: Our nonprofit board frequently struggles with questions about quorum requirements in our Bylaws and what is required by law, can you help us understand what the law requires? Answer: The good news is that nonprofit organizations have a lot of freedom in setting their own quorum requirements. The Virginia Nonstock Corporation Act allows the […]
One of the early formation tasks for a small business start up in Virginia (typically after forming a new business entity with the State Corporation Commission and applying for a federal EIN from the IRS) is to apply online with the Virginia Department of Taxation. Here are answers to a few commonly asked questions about […]
Did You Know? Once upon a time, retail shoe stores would use x-ray machines to help their customers purchase the “best fitting” shoes. The lesson for small business owners? The health and safety of your customers should always be a top priority, and when it comes to innovative marketing strategies and business practices, sometimes it […]
For most entrepreneurs, terminating an employee is one of the least enjoyable aspects of business ownership. Employment termination decisions typically arise on an individual, case-by-case basis. Here are a few suggestions for ending the employment relationship in an efficient manner (and in a way that should reduce your risk of liability).
Come network with fellow social entrepreneurs and chat about B Corps at Impact Makers in Scott’s Addition on Tuesday, May 14 at 5:30pm – 7:30pm. To register, click here!
The process of dissolving and terminating a Virginia limited liability company or corporation (each generically referred to in this article as an “entity”) can be a simple process, or it can be a time-consuming and complex process depending upon the surrounding facts and circumstances. When a business owner desires to close an entity, he or […]
Working daily with small business owners and entrepreneurs (aside from being a small business owner myself) gives one a special look inside the ups and downs of small business ownership. In recent conversations with clients and colleagues, two specific challenges were discussed that, unfortunately, are all-too-common. In one case, an owner of a steadily growing […]
I am excited to again be a judge and sponsor for Richmond SCORE’s 4th annual business pitch contest, featuring some of the area’s top small business entrepreneurs competing for a $5,000 top prize. Click here to see who made the final round. The finals are open to the public, so come out and support the […]
Virginia was among the first handful of states to embrace the social entrepreneurship movement by passing a law in 2011 creating a special form of business entity—the benefit corporation. Here are a few good things to know about the Virginia benefit corporation: 1. What is a benefit corporation and how is it different from a […]
For a prospective franchise owner, a franchise agreement is arguably one of the most significant contracts you will ever sign. Careful due diligence is highly recommended. RVA small business and franchise attorney Eric Perkins has been reviewing Franchise Disclosure Documents for over 20 years, helping clients understand the terms, features, risks, and ramifications of the […]
Does the sole owner/employee of an S Corp. in Virginia need to register with the Virginia New Hire Reporting Center? This might surprise some of you, but the answer is yes. For more specifics, visit their website.
We are excited to renew our sponsorship for one of the premier events on the Goochland Chamber’s annual calendar—Community Night at the Diamond. This year’s event will take place on July 18, 2019 and not only feature Flying Squirrels baseball, but also fireworks after the game!. Last year’s event was a ton of fun, so […]
Richmond BizSense publishes an annual list of the area’s most philanthropic companies, and Perkins Law was honored to make the list at #39. “Community service represents one of our core values,” notes Eric Perkins, who founded the firm in 2009, “as a small business, our capacity to contribute is modest compared to corporate giants like Altria, […]
Looking for a legal expert for your next conference, workshop, or event? Eric Perkins is a business and nonprofit attorney in Richmond, Virginia with over 20 years of experience working with small business owners, entrepreneurs, executives, and nonprofit leaders on a wide variety of transactional and compliance matters. He has authored or co-authored three books […]
Special thanks to Raintree Swim & Racquet Club (Eddie and Stacey Parker, Brian Fleishman, and Catherine DeSouza) for inviting me to speak at today’s luncheon about tennis rules and sportsmanship. A festive group of nearly three dozen league players peppered me with questions about tennis rules, league regulations, and general topics of tennis etiquette and […]
It happens more frequently than you think–the Virginia State Corporation Commission terminates the existence of an LLC for failure to pay its $50 annual fee. In theory, having the existence of your LLC terminated, if not corrected in a timely fashion, could have serious legal consequences. The termination could constitute an event of default under […]
March 19 – Tennis Rules Education Workshop – Eric Perkins will be talking about the latest trends in tennis rules and sportsmanship at Raintree Swim & Racquet Club at 12pm. For more information email Eric at [email protected].
Richmond small business and nonprofit attorney Eric Perkins will be recognized for 20 years of national volunteer service at the USTA’s annual awards luncheon on March 24, 2019 in Austin, Texas. Perkins’ involvement as a USTA volunteer has included multiple terms as chair of the Tennis Rules and Regulations Committee and as a member of […]
Our nonprofit organization is mired in controversy with a bitterly divided board of directors that argues regularly over a variety of strategic and financial issues. The latest board dispute relates to access to the organization’s operating account. Can the president of the organization change the signatories on the bank accounts without board approval? It depends. […]
Just a reminder that as a small business owner/entrepreneur, you are identifying, assessing, and managing risk 24/7. You can never eliminate it, but you can reduce it and minimize the impact of a risk if it materializes. There are always risks out there that you couldn’t be expected to predict or prevent. For restaurant and […]
A great kick-off event last night at host C & F Bank in Midlothian for the 4th annual SCOREcard Business Pitch Competition as we got to meet many of the contestants and hear their “elevator pitches” for the first time. Finals will take place downtown at Activation Capital on April 30. I’m excited to be […]
We are a local 501(c)(3) charity and would like to put a place for donations on our website. Can we receive donations from donors outside of Virginia? Yes, but…. many nonprofits have configured their websites so that they can collect online contributions and some have been wildly successful in obtaining contributions from other states and […]
Managing risk is a critical part of owning a small business. Entrepreneurs manage risk every day in a variety of ways. Insurance is a key component of any risk management strategy, and small business owners should seek assistance from experienced insurance professionals during the early stages of starting a business. Effective risk management not only […]
For various reasons (to be discussed in another blog post), most small business acquisitions are structured as a purchase of assets (as opposed to the purchase of corporate stock or LLC membership interests) because buyers typically prefer it that way. One of the many items to negotiated between seller and buyer is how the purchase […]
Always fun to welcome new franchise concepts to the area, and the newest one to hold a grand opening in the Short Pump is First Watch – The Daytime Cafe. According to its website, First Watch is the largest and fastest growing daytime-only (i.e., no dinner/evening hours) restaurant concept in the U.S. with 250+ locations scattered […]
United States Tennis Association President Patrick Galbraith has appointed Eric Perkins to serve a two-year term on the USTA Sportsmanship Task Force, whose mission is to advise, assist, work and collaborate with USTA staff and volunteers and across the tennis industry to drive a culture of sportsmanship throughout the tennis community, as well as promoting […]
A few thoughts about square footage issues in commercial lease transactions explained here. Consider the five bullets below! 1. Size matters, right? 2. Measuring Square Footage. 3. Tenant Protection Tips. 4. Measuring Standards. 5. Take Aways.
21 commonly asked questions about Virginia small business startups answered here. Perkins Law is pleased to offer flat fee packages for Virginia LLC and corporate formations.
Recommended book for small business owners—Built to Sell by John Warrilow. Understanding the process of preparing your small business for sale, how to maximize the marketability of your business, and then navigating a successful sale of your business are critically important steps for any small business owner. Since going the “IPO” route is not an […]
Three Simple Tips to Maximize Limited Liability Protection through your Virginia LLC: (i) Pay your annual fee to the SCC on time every year; (ii) pay attention to signature blocks when signing business contracts on behalf of your LLC; (iii) maintain a separate bank account in the LLC’s name. Obviously this is not all a […]
A dilemma facing every startup business with more than one owner—how to divide up initial ownership equity? Bottom line is that there’s no simple answer. Every situation should be addressed on its own facts and circumstances, but here are five factors that co-founders should consider when dividing up initial ownership: Who has already contributed cash […]
Eric Perkins will be leading an interactive workshop on tennis rules and etiquette on March 19, 2019 at Raintree Swim & Racquet Club. Why is it important to know the rules? Where can you find them online? What are some of the most misunderstood rules in tennis? How are you supposed to resolve scoring disputes? […]
Three Ways for an “S” Corp. Owner to Take Money Out of the Company: (i) salary for services rendered; (ii) dividends; and (iii) loans. Setting a “reasonable salary” for yourself that will withstand IRS scrutiny depends on a variety of facts and circumstances and is something you should discuss with your accountant. Don’t get greedy […]
Smart entrepreneurs conduct business through separate business entities such as LLCs or corporations in order to enjoy limited liability protection (personally) from debts and obligations of the business. However, the reality of small business ownership is that, as an owner, you likely will be required to sign personal guarantees for many of your company’s most […]
Does Your Small Business Have a Social Media Policy? This type of policy—offering guidance to your employees on what your expectations and requirements are concerning social media communications and related activity that affect your business–can benefit and protect your business in a variety of ways. If your company’s employee handbook or policy manual does not […]
For nonprofits that operate on a fiscal year ending December 31st, it is not too early to start thinking about IRS Form 990-whichever version the organization needs to file. For a quick refresher on the key details on Form 990-N and 990-EZ, click here.
Are you taking full advantage of the business travel deduction? As a small business owner, you are entitled to a tax deduction for gas and auto expenses when using a car for business purposes. You can do this one of two ways: (i) deduct the actual cost of your gas and other expenses, or (ii) […]
Have you renewed your local business license for 2019? Don’t procrastinate and risk missing the renewal deadline (March 1 for Henrico County, Chesterfield County, and City of Richmond). Penalties, interest, and believe it or not, criminal penalties can apply if you don’t renew in a timely fashion. Perkins Law offers a flat fee service package […]
A commonly asked question by entrepreneurs and prospective small business owners during initial brainstorming sessions is “Should I go with an LLC or an S corp.?” Well, for many Virginia small businesses, the optimal answer is BOTH. You can own and operate your business through a Virginia limited liability company AND file an election to […]
Proudly introducing the first graduating class of the. Over an hour of sprinting, ball tossing, rolling, and throwing along with a crash course in tennis rules. Thanks to Hermitage Country Club for hosting. Diplomas and official RTA Ball Kid t-shirts were well-earned by today’s participants. Be on the lookout for another training session coming to […]
Enjoyed a great panel discussion with two former colleagues (Stephen Faraci and Scott Golightly) earlier today at the monthly Goochland Chamber lunch gathering. We talked about the importance of doing business through a separate business entity, why LLCs have become the entity of choice for the small business community, business succession planning strategies, and ways to […]
Our nonprofit struggles to recruit and retain volunteers to help with our community events and activities, can we offer financial incentives or other “perks” as a recruiting tool? Reimbursing reasonable out-of-pocket expenses for volunteers is permitted, but if an organization gives anything of value in exchange for volunteer service (items of de minimis value excepted), […]
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2018. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 18 different practice areas. In 2018, 1,062 […]
The board of a nonprofit organization presided over a membership meeting and announced that a quorum was present at the members meeting, knowing that no quorum existed, and then let the results of the ensuing vote on a controversial issue stand. What can be done to challenge this? ANSWER: In theory, an aggrieved member could […]
Several times each year our 501(c)(3) organization raises funds for a specific cause (or other charity) through a special event or a raffle. Once the event takes place, how long do we have to submit the funds to the designated charity? There is no specific deadline, but funds should be distributed within a reasonable time. What […]
Richmond small business and franchise law firm Perkins Law, PLLC has been recognized by U.S. News & World Report in its “Best Law Firms” rankings for 2019. “Best Law Firms” chooses lawyers based on client and peer reviews, as well as professional excellence.
Registration now open for the Virginia Franchise Forum 11th Anniversary Celebration! Join the VFF for an evening of franchising updates, education, and networking as it marks its 11th anniversary. Industry leader FRANdata returns to present its annual year-end franchising review and forecast for 2019. State Corporation Commission Division of Securities and Retail Franchising officials will […]
Congratulations to Tricia Riggan, recipient of the 2018-2019 Perkins Law Scholarship at the Bon Secours Memorial College of Nursing. College leaders, sponsors, and scholarship recipients enjoyed a recognition luncheon on Monday at CCV. It was inspiring to hear about the great work being done in the classroom and throughout the region by such a passionate and […]
November looks to be an exciting month for RVA entrepreneurs and small business owners. First, the Virginia Franchise Forum returns for its 11th annual year-end event featuring FRANdata’s annual review and 2019 franchising forecast. A panel discussion will feature local franchise owners sharing their experiences (the good, the bad, the ugly) as franchise owners. So […]
Richmond small business law firm Perkins Law, PLLC is pleased to announce its sponsorship of the 2018 Jazz Nativity hosted by Gayton Baptist Church. The show brought together more than 2,500 people in 2017 and is expected to have record attendance in 2018. Proceeds raised through ticket sales support Feed My Starving Children. FMSC is […]
Openly communicating with your employees about the sale of your business is a critically important and monumentally difficult task. When, where, and how should you have this talk with your team? Spilling this information too early could cause anxiety as employees could worry about their future and job security. They might talk and, before you […]
RVA small business and franchise attorney Eric Perkins has been selected by peers in the legal community to be included in the 25th edition of The Best Lawyers in America for his work in franchise law for the ninth year in a row. With over 20 years of experience representing franchise systems and franchise owners, Eric continues to […]
Going into business with one or more other people offers many potential benefits and risks. You hope for success, but need to plan for the worst. A carefully drafted agreement among a group of business partners is important to memorialize owner expectations and understandings concerning a variety of important topics. Click here for a short list […]
Our nonprofit struggles to recruit and retain volunteers to help with our community events and activities, can we offer financial incentives or other “perks” as a recruiting tool? Reimbursing reasonable out-of-pocket expenses for volunteers is permitted, but if an organization gives anything of value in exchange for volunteer service (items of de minimis value excepted), […]
Congratulations to the winners of the 2018 RTA/Perkins Law Tennis Community Scholarship: Kathleen Marschalko from Cosby High School and Alexandra Smyth from Freeman High School. Impressive student athletes! To view their video submissions expressing what tennis means to them and why Richmond is a great tennis town, click the links below. Kathleen Marschalko Alexandra Smyth There’s always […]
Congratulations to TraceRx, Inc. and its founder Matthew Rosen on winning the 2018 SCOREcard Business Pitch contest and $5,000 top prize. Trace RX is focused on providing tracking and traceability solutions to organizations that provide international relief and aid around the world to reduce losses due to negligence, theft, or destruction. Sauber Cleaning Solutions, which […]
Having the flexibility and freedom of contributing your time, talent, and resources to charitable causes you find worthwhile is one of the best things about owning your own business. Over the course of the past month, I have had a great time volunteering for some impressive nonprofits in the area—Shalom Farms, Virginia Center for Inclusive […]
Even with the comfort that an important business transaction or relationship has been carefully memorialized through a written agreement, contract disputes can arise for a variety of reasons. When they do, the parties need to quickly make some important decisions. In the small business world, litigation is often a regrettable choice as a dispute resolution […]
An often overlooked issue in small business acquisitions is when and how to let employees about the transaction. Two things are clear—every situation is different and timing is important. Sharing this information too early could cause intense anxiety as employees worry about job security and hurt their performance. A key employee could resign, thus jeopardizing […]
The Perkins Law Team salutes small business owners and entrepreneurs — the driving force in our economy today. According to the Small Business Administration, there are nearly 30 million small businesses in the United States employing 47.8% of all U.S. workers. Microbusinesses (companies with less than 10 employees) account for more than 75% of all […]
Buying or selling a small business is a process. Before investing the time and expense of drafting a full-blown acquisition agreement, parties will often prepare a preliminary document, typically referred to as a letter of intent (also referred to as an “LOI”), outlining the key terms and conditions of the deal. The value of an […]
Henrico County small business, franchising, and nonprofit law firm Perkins Law, PLLC moved up to #33 on this year’s Generosity Inc. list of RVA companies active in local philanthropy and community service. “Community service represents one of our core values,” notes Eric Perkins, who founded the firm in 2009, “as a small business, our capacity […]
Richmond small business and nonprofit attorney Eric Perkins will be presenting “Great Beginnings and Graceful Endings–Tips for Navigating the Employee Hiring and Termination Process” at the Center for Nonprofit Excellence in Charlottesville, VA on May 18, 2018. Every employment relationship has a beginning and a conclusion. Both are critically important to an organization because there […]
April 16,2018 — I enjoyed a fun afternoon at Shalom Farms with my fellow Short Pump Rotarians picking carrots and protecting fields of onions and garlic. Shalom Farms is a nonprofit organization based in Powhatan County just off of Route 288. Formed in 2008, Shalom Farms strives to “work with communities to ensure access to […]
There are many misconceptions about forming a Virginia nonprofit organization: (i) it is a quick process, (ii) nonprofit fundraising is easy, (iii) one or two people can handle everything, and (iv) founders can profit from the growth and success of the organization. Here is a short outline summarizing some of the basics of starting a […]
Nearly two dozen RVA small business startups are competing for a $5,000 top prize and bragging rights in the local business community. C&F Bank hosted a reception on Wednesday night for the contestants, sponsors, judges, and SCORE mentors. A wide variety of businesses are represented in this year’s competition, ranging from fitness to party planning […]
To succeed as a small business owner, you have to develop a base of happy and loyal customers who appreciate the product or service you provide and, even better, are willing to brag about your business to others. Here’s a great example of a small business (Woofy Wellness Ranch in Richmond, VA) that is growing […]
In order to scale your business, expand to new markets, or other take take your business to the “next level”, it inevitably becomes necessary to seek capital investment from outside investors. Here are a few preliminary tips to keep in mind before you do it: 1. Don’t jump the gun. You need more than an […]
Whoa! Time flies. Perkins Law, PLLC was born on April 2, 2009. The past nine years have been an incredible adventure, and we look forward to serving the RVA small business, franchising, and nonprofit communities for many years to come. Thank you to the loyal clients (from every conceivable industry) for whom we have the […]
Regardless of your political affiliation or your opinions on tax policy, there are at least two provisions of the controversial Tax Cuts and Jobs Act passed by Congress at the end of last year that are detrimental to small business owners….I will certainly miss them. First, deductions for entertainment expenses are now disallowed (as of […]
Selecting a franchise opportunity can be the most important business decision of your life. On top of that, at any given point, there are over 3,000 franchise opportunities being offered for sale (although only about half that amount are registered and available for sale in the Commonwealth of Virginia). There are many issues to consider […]
Small business owners should incorporate charitable giving and community service into their business plans each and every year. For one thing, it is the right thing to do and makes your community a better place in which to live, work, and play. Community service is a tremendous opportunity for building greater rapport with your staff, […]
Even single-owner LLCs should have a written Operating Agreement. Even though it should be relatively short (5-6 pages at the most in most situations), a written Operating Agreement is useful to: (i) memorialize the ownership and management structure of the LLC (e.g., confirming the title you choose to use when signing contracts, printing business cards, […]
It does not matter whether you are a fledging entrepreneur thinking about starting your first business or an experienced business owner with a staff of 50, having a business mentor or executive coach (they use different titles) can be incredibly valuable. RVA entrepreneurs are fortunate to have an extensive choice of experienced coaches and mentors […]
One of the crown jewels of the RVA nonprofit community, Junior Achievement of Central Virginia, is seeking Richmond area entrepreneurs to share their unique experience with high school students by participating in the one-hour JA Launch Lesson. Entrepreneurs will visit one class, for one hour, and share with the students what it means to be […]
Ever thought of investing in a franchised business? Thousands of franchise systems representing virtually every conceivable type of business are actively searching for qualified franchisees 24/7. How does one learn more about franchise opportunities and what they have to offer? A few hours of online research will yield a wealth of information, and a great […]
Perkins Law, PLLC is excited to once again team up with Bon Secours Memorial College of Nursing for the second annual Perkins Law Scholarship for the 2018-2019 academic year. It will provide tuition assistance for a deserving nursing student at the College. Thanks to the overwhelming support by the RVA community, BSMCON is able to award […]
While the legal concepts are pretty simple and straightforward, there always seems to be a lot of confusion and noncompliance when it comes to youth sports and school-related booster clubs and their fundraising efforts. Here is a short article that attempts to clear up some common mistakes and misconceptions.
Take a look at this quick introduction to Virginia LLCs. The LLC has become a popular choice of entity in the Virginia small business community. Reach out anytime for more details (including the Perkins Law flat fee package for Virginia LLC formations)
Over 200 tennis fans enjoyed a fun evening of great food and tennis at Salisbury Country Club’s 10th Annual Friday Night Lights tennis extravaganza on February 23, 2018. Willow Oaks Country Club Teaching Pro Eric Shulman, recently inducted into the Christopher Newport University Hall of Fame, and Goochland High School senior Ryan Bernstine, won a […]
Exciting announcement at yesterday’s Warren Whitney Leadership Network from StartUp Virginia co-founder and Executive Director Bryan Bostic on today’s grand opening of RVA’s newest startup incubator and collaborative workspace “1717 Innovation Center”. This world-class facility promises to be the nucleus of the RVA startup ecosystem for many years to come. Thumbs up to Capital One […]
This promises to be an exciting event for any entrepreneur or small business owner as Richmond Raceway President Dennis Bickmeier will be discussing how the Raceway has innovated and re-imagined itself to retain its status as the crown jewel of the RVA sports & entertainment community! Click here for more information!
Just a friendly reminder to my fellow Henrico County business owners that your county business license renewals are due by March 1, so don’t procrastinate any longer. Late fees will apply if you are tardy and, even worse, technically it is a criminal offense to conduct business in Henrico County without a valid business license. […]
For the 4th year in a row, RVA small business and franchising law firm Perkins Law, PLLC is sponsoring the main event match at Salisbury Country Club’s Friday Night Lights tennis extravaganza. Cesar Grobel and Brett Moorhead will battle Eric Shulman and Ryan Bernstine for a $500 winner-take-all prize. A crowd of over 300 tennis […]
Recognizing that tennis offers a pathway to a healthy and fulfilling life, the Richmond Tennis Association and Perkins Law, PLLC are proud to offer a $1,000 college scholarship to the male and female graduating senior who best (and most creatively) exemplifies all the great things tennis has to offer for people living in RVA. Congratulations […]
Virginia adopted the Virginia Limited Liability Company Act in 1991, and LLCs have quickly emerged as the most popular business entity in Virginia. According to 2010 SCC statistics, new LLCs outnumber new corporations by more than a 2 to 1 margin. Limited liability companies offer some of the best features of limited partnerships and corporations: […]
The IRS recently rolled out a few minor changes to its Form 1023-EZ, an abbreviated version of Form 1023 that allows smaller nonprofits to apply for recognition of tax-exempt status more quickly and cost effectively. For a discussion of the new changes, click here.
Reserve your spot now for the 10th Annual “Friday Night Lights” at Salisbury Country Club on February 23!! Cocktails start at 6pm with dinner and matches quickly following at 6:30pm. Perkins Law will be sponsoring the $500 winner-take-all featured match for the fourth year in a row with Brett Moorhead and Cesar Grobel taking on […]
Fun evening with fellow business owners and nonprofit leaders at Goochland Chamber of Commerce’s Annual Social and Silent Auction (featuring auctioneer extraordinaire Peter Larsen), hosted by Hermitage Country Club. You don’t need to be Kreskin to predict the next 10-20 years are going to bring a lot of exciting growth and business development to Goochland […]
Richmond small business and nonprofit law firm Perkins Law, PLLC has signed on to be a sponsor of the Richmond SCOREcard Business Model Startup Competition for the third year in a row. The business startup competition is a great opportunity for the RVA small business community to showcase its best and brightest entrepreneurs.
For a quick introduction to IRS group exemptions click here.
Recognizing that tennis offers a pathway to a healthy and fulfilling life, the Richmond Tennis Association and Perkins Law, PLLC are proud to offer a $1,000 college scholarship to the male and female graduating senior who best (and most creatively) exemplifies all the great things tennis has to offer for people living in RVA. Applications […]
Starting and running a small business is unique in many ways. Finding resources and professional assistance geared specifically toward small businesses and startups can be challenging. These are just some of the areas where Perkins Law, PLLC steps in to fill the void: Business entity structuring considerations Securities compliance Agreements among business partners Strategies to recruit […]
Managing risk is a critical part of owning a small business. Entrepreneurs manage risk every day in a variety of ways. Insurance is a key component of any risk management strategy, and small business owners should seek assistance from experienced insurance professionals during the early stages of starting a business. Effective risk management not only […]
Probably safe to say we are experiencing a tipping point in American society’s attitudes toward sexual harassment. As the #MeToo movement expands and more people are willing to come forward to report their experiences, nonprofit organizations need to be ready to respond. Harassment is not a new phenomenon in and of itself, but the climate […]
Relying on data recently published by the Henrico Economic Development Authority, here are just a few of the many reasons why Henrico County is a fabulous place to start a business. Convenient Location. More than 55% of the U.S. population and major manufacturing sites are located within 750 miles of Henrico Thriving Business Community. More […]
According to BizBuySell.com’s 3rd Quarter Insight Report, 2017 has been a good year for small business transitions. A few general highlights of the report: More deals are closing Deals are closing quicker Due to steadily improving revenues and overall financial performances, small businesses are selling for higher prices. So if you are gearing up to […]
A cultural shift of tectonic proportions seems to be emerging right before our very eyes, and many would agree such an awakening is long overdue. The issue is sexual harassment and, in some egregious circumstances, sexual assault. Every business with employees, no matter how small or large, should absolutely have a clear and concise anti-harassment […]
Starting a new business is an exciting and challenging adventure. You have literally hundreds of decisions to make and issues to address–legal, accounting, tax, marketing, insurance, financial, staffing, site selection, technology, and the list goes on. Most entrepreneurs recognize the value and importance of working with third-party professionals when appropriate. But even when a small […]
Henrico small business attorney Eric Perkins has been selected to the Virginia Super Lawyers List for 2018 in the Business/Corporate Law category. Only 5% of Virginia lawyers receive this distinction each year.
The Perkins Law team just completed its annual evaluation process. It is truly one of the highlights of the year for me as a small business owner. I realize that with only one employee, the process is much easier to manage at Perkins Law than it is for most companies. In any event, here are […]
Attendees enjoyed an evening of franchise industry updates, education, and networking last night as the VFF marked its 10th anniversary promoting franchising in RVA. Industry leader FRANdata returned to present its annual year-end franchising review and industry forecast for 2018. In addition, a panel of franchise system representatives discussed the franchise recruitment process and other […]
Eric Perkins, local business attorney and co-author of “Richmond – One of America’s Best Tennis Towns” will be our featured speaker talking about over 100 years of tennis history in RVA, including world records set here in Henrico County that stand to this day!
Richmond small business and nonprofit attorney Eric Perkins will be presenting “Great Beginnings and Graceful Endings–Tips for Navigating the Employee Hiring and Termination Process” at the Center for Nonprofit Excellence in Charlottesville, VA on November 29, 2017. Every employment relationship has a beginning and a conclusion. Both are critically important to an organization because there […]
It was a great honor (and a lot of fun) to serve as master of ceremonies at the induction ceremony for the Richmond Tennis Hall of Fame Class of 2017 on Saturday night. A sold-out audience filled the ballroom at the Westwood Club for an evening of dinner, cocktails, and tennis talk. Richmond native and […]
I had a great time last Thursday night at The Hippodrome networking with other leaders of the RVA entrepreneurial community at what has become a much-anticipated annual event organized by the Venture Forum. Congratulations to the 2017 Companies to Watch: Seasonal Roots, Food Not Flowers, Outdoor Access, and Crowdlobby. All four startup and emerging growth […]
October marks National Bullying Prevention Month, which was initiated by PACER’s National Bullying Prevention Center in 2006 and brings together communities around the world to educate and raise awareness of bullying prevention. National Bullying Prevention Month is supported by hundreds of schools, community members, major corporations, and celebrities, and is an opportunity to encourage everyone to […]
Join the VFF for an evening of franchising updates, education, and networking as it marks its 10th anniversary. Industry leader FRANdata returns to present its annual year-end franchising review and forecast for 2018. A panel of franchise system representatives will discuss the franchise recruitment process and best practices in franchise relationships. To register for this […]
The Perkins Law team is excited to be an exhibitor at the upcoming Goochland Expo on October 19, 207 from 5:00-8:00 pm at the Heart of Virginia scout Camp in Maidens, VA. For event details, please visit their website. This family-friendly event will feature exhibitors from the local business and nonprofit communities, beer and wine tastings, […]
On an otherwise tragic day in the USA, I attended an event at CCV organized by the Bon Secours Memorial College of Nursing to recognize its 2017-2018 scholarship recipients and supporting sponsors. I was honored to meet Bret Fowler (pictured below), this year’s recipient of the Perkins Law Annual Scholarship. A native of Staunton, VA […]
Are you considering becoming a franchise owner? When done correctly, franchising is a great way of doing business for both franchisors and franchisees. Success is not guaranteed, however, and franchised businesses can and do fail. To improve their chances of long term success, prospective franchisees have to do their homework (lawyers refer to it as […]
Richmond small business, franchising, and nonprofit law firm Perkins Law, PLLC is excited to announce it has signed on as a sponsor of the 2nd Annual Short Pump Rotary Golf Tournament, scheduled for October 4, 2017 at The Hollows Golf Club. Additional sponsorship opportunities are available and registration is open for 4-person teams for the […]
RVA BizLaw episode 17 is now available on the Perkins Law YouTube channel! Eric shares three tips for small business owners on functions that should be outsourced as quickly as possible!
RVA small business and franchise attorney Eric Perkins has been selected by peers in the legal community to be included in the 24th edition of The Best Lawyers in America for his work in franchise law. With over 20 years of experience representing franchise systems and franchise owners, Eric continues to promote franchising through his […]
Financing a small business startup can present many challenges to Virginia entrepreneurs. If life was perfect, a business owner would never have to seek outside capital to finance the growth (or survival) of its business. But we know that life isn’t perfect and there are times when an owner concludes that his or her business […]
The recent controversy involving an Atlee softball team abruptly disqualified from the Little League World Series for an unsportsmanlike Snapchat post should be considered as a call to action for all nonprofit organizations to examine their policies and procedures with respect to social media. What would your organization do in a similar situation in which […]
Episode 16 in the RVA BizLaw series is now available and will explain how every member of a nonprofit board fits into one of five categories–each one resembling a different finger on your hand!
August 8 recognizes the day Congress established the U.S. monetary system in 1786!
Episode 15 in the RVA BizLaw series is now available! Eric Perkins will explain the benefits of an advisory board for small businesses! Episode 16 will highlight The Perkins Law 5-Finger Philosophy to Nonprofit Board Composition.
The latest episode in the RVA BizLaw series is now available!! Need a few tips for navigating an ethical dilemma at work? Eric Perkins offers three steps to help provide a framework that will allow you to stay out of trouble while maintaining your sense of integrity. Episode 15 will dive into the beauty of […]
Signing a franchise agreement is one of the most important contracts a person will ever sign. Asking the right questions, conducting adequate research, and careful planning are all important parts of the franchising process. Perkins Law is pleased to offer the Perkins Law 100-Point Prudent Planning Test for Prospective Franchisees.
RVA’s tennis guru, Eric Perkins, kicks off the “Here’s the Rule” video series by addressing intentional and unintentional hindrances caused by an opponent’s body movements. Check out the link below for some insight into Code 35 and stay tuned for next week’s addition — Call Disagreements. If you have a tennis rules question please email […]
RVA BizLaw episode 13 is now available. This episode dives into the importance of business ethics for small business owners. Anyone else agree that ethics is a timely topic for discussion? Catch episode 14 next week where we will share 3 steps to navigating ethical dilemmas in the workplace!
Perkins Law, PLLC is pleased to announce that Deep Run High School’s Nina Sorkin and Goochland High School’s Chase Bernstine are this year’s winners of the second annual RTA Tennis Community Scholarship. Sorkin finished her high school tennis career with an astounding 89-1 record, featuring four state singles and doubles titles as well as one […]
RVA BizLaw episode 12 is now available by clicking the link below! Eric will provide 5 tips to boost the value of your small business!! Keep a look out for episode 13 where we will dive into the importance of business ethics for small business owners.
Congratulations to The Dog Wagon and it’s owner Robert Stout for beating out 21 other local entrepreneurs to win the second annual SCOREcard Business Canvas Model Competition, organized by Richmond SCORE. See and hear about Perkins Law’s Eric Perkins’ judging experience on Episode 11 of the RVA BizLaw Series just posted on YouTube or read […]
Small business owners and entrepreneurs often use (and confuse) LLC and corporate terminology and concepts. This is understandable as many people view the two types of business entities as being functional equivalents of one another. With the flexibility offered by the Virginia LLC Act, it is not unusual for LLC owners to “incorporate” many corporate-like […]
One of the crown jewels of the RVA entrepreneurial ecosystem is Lighthouse Labs, a nonprofit organization that operates a mentor-driven accelerator program for local startups. The program offers entrepreneurs a blend of mentoring, education and support services, and collaborate work space to help participating startups navigate from concept to viable, high growth businesses over a […]
View the latest episode in the RVA BizLaw series by following the link below! Eric Perkins talks about an ever growing part of the Perkins Law practice–nonprofit organizations! He highlights three things to consider before starting a new nonprofit. Sneak preview of Episode 11 coming soon: A brief recap of the 2017 RVA SCOREcard Business […]
Correctly setting up a Virginia limited liability company or corporation is a great first step for your small business, but the responsibility does not stop there. Proper business entity maintenance, compliance and governance must be faithfully observed to enjoy limited liability protection and other legal benefits of conducting business through a separate legal entity. Easier […]
Got a question about tennis rules? Come across a strange situation during a match and weren’t sure of the rule? New to tennis and don’t have a clue about tennis rules or etiquette? No more worries. Tennis rules guru Eric Perkins will be answering questions from the RVA tennis community all summer long as part […]
RVA BizLaw Episode 9 is now available!! Visit our YouTube channel below to learn about some of the best kept secrets of the RVA entrepreneurial ecosystem, including local business networking and community service organizations like the Short Pump Rotary Club and Henrico Business Leaders. Coming up later this month in Episode 10 – a few things […]
Click here for a list of questions designed to serve as an informal self-assessment of your commitment to social media networking and building an effective presence online. The more “YES” answers, the better. There is no question that building your brand online requires commitment and time, but it can be done at reasonable expense (and […]
Richmond small business law firm Perkins Law, PLLC is pleased to announce its sponsorship of the 2017 College Week Tennis Camp program hosted by Willow Oaks Country Club. The camp, entering its 12th year, brings together some of the nation’s top college tennis coaches for a week of training with the area’s top juniors. Organized […]
One reason why Virginia is consistently rated as one of the best states in the country to do business is because the Virginia General Assembly regularly updates its business entity statutes to keep them current, flexible, and entrepreneur-friendly. While LLCs have become the most popular choice of entity for the small business community, entrepreneurs have […]
Visit the link below to check out the latest episode in the RVA BizLaw video series! Eric will discuss the RVA Entrepreneurial Ecosystem and why Richmond, VA is such a great place to be an entrepreneur or start a small business. He will break the ecosystem down into three different categories: 1. Money 2. Mentoring […]
The process of franchising your business or creating a new franchise system can be an exciting and fruitful experience that takes your business to the next level, but the process also involves many legal issues and documentation. Many small business owners looking to expand through franchising come into the process with unrealistic expectations and do not […]
Perkins Law is excited to be #39 on Richmond BizSense’s 4th annual Generosity Inc. list of RVA’s most philanthropic companies. In recent years we’ve had the privilege of supporting local schools with the Perkins Law Tennis Community Scholarship, SCORE, RTA, Short Pump Rotary, Henrico Education Foundation, Breath Matters, Virginia Baptist Foundation, and Henrico Christmas Mother. […]
Perkins Law turns 8 years old in April. Serving the RVA small business and nonprofit communities has been such a rewarding experience and would not have been possible without the vast (and always growing) network of inspiring and loyal clients, colleagues, and friends that have trusted me with their transaction and compliance needs. The Perkins […]
For a small business owner, a shopping center or office lease will be one of the five most important business contracts you sign. Unfortunately, too many entrepreneurs do not invest the time and resources they should to fully understand the risks and ramifications of their commercial lease agreements. Follow this link to read an article offering […]
Check out the latest episode in the RVA BizLaw series in which Eric discusses why he dislikes sole proprietorships as a way of conducting business. Better choices readily available for entrepreneurs. Enjoy and stay tuned for episode 7 (Employment Relationships) coming up next week.
Secure a seat for Richmond’s SCORE “How to Start Your Own Business Workshop” this Friday, April 7 from 8:15 am to 4:30 pm. Local small business owners and experts will discuss start-up basics: legal, bookkeeping, insurance, funding, Internet marketing, business planning and more. This workshop includes takeaway workbooks, peer networking and free follow-up coaching from […]
Ever had legal question concerning your small business and wished you had a reliable resource you could turn to for help that wouldn’t cost you $400 per hour? If so, then take a look at the flat fee service package offered by RVA small business and franchise law firm Perkins Law. Eric Perkins has been […]
Check out the latest episode of #RVA BizLaw’s in which Richmond, Virginia small business and franchise attorney Eric Perkins shares his thoughts on five RVA companies that appear to possess some attributes of successful franchise systems. Did you know that RVA is home base for quite a few successful franchise systems, including Rainbow Station, Mosquito Squad, Outdoor Lighting […]
The Perkins Law team was excited to learn this week that we have been named a Constant Contact All Star Award Winner for 2016 in recognition of our social media networking efforts. Receiving this special designation means we are among the top 10% of Constant Contact subscribers in terms of our social media outreach and […]
Want to know who are some of Virginia’s leading social entrepreneurs? For the past several years, Richmond small business and nonprofit lawyer Eric Perkins has studied State Corporation Commission published data and organized a master list of Virginia benefit corporations. Representing a wide variety of industries, the companies on this year’s list reflect a diverse and steadily […]
The featured speaker at this Monday’s Henrico Business Leaders Breakfast was Kevin Eastman. At the time of his retirement last June, Kevin was serving as VP of Basketball Operations for the Los Angeles Clippers, following 35+ years of coaching at the NBA and collegiate levels. Richmond sports fans will surely recall Kevin’s days as a team […]
An increasingly popular strategy for charitable giving–especially in a rising stock market–is to donate securities to charity. Aside from the obvious philanthropic benefit of supporting an organization or cause that you are passionate about (e.g., Richmond Tennis Association, Goochland Pet Lovers, Breath Matters, James River Hikers-Hiking with History, among so many other great RVA nonprofits), […]
Check out the latest episode in the RVA BizLaw series, “Franchising by the Numbers”! Eric Perkins lays out the three key elements of a franchise and some important factors to keep in mind when choosing franchising as a path to business ownership. Stay tuned for Episode 4 this Thursday as we will dive deeper into the […]
Is it a sign of the impending doom of our society when we can’t even announce major award winners right? The world witnessed a colossal gaffe at the end of Sunday night’s Oscars ceremony when Warren Beatty and Faye Dunaway were apparently handed the wrong envelope when they walked on stage to announce the Best […]
Richmond small business and nonprofit law firm Perkins Law, PLLC is excited to announce the creation of the Perkins Law Annual Scholarship that will provide tuition assistance for a deserving nursing student at Bon Secours Memorial College of Nursing. In selecting the scholarship recipient, preference will be given to applicants from Southwestern Virginia/Southern West Virginia. […]
Eric Shulman and Hunter Koontz shared the $500 top prize from last Friday’s Perkins Law Winner-Take-All Challenge match (I assume they split the money 50/50) defeating Kyle Parker and Chase Bernstine to cap an entertaining evening of tennis at Salisbury Country Club’s 9th Annual Friday Night Lights tennis event. A crowd of over 300 local tennis […]
The IRS announced today that publicly available information from approved Form 1023-EZ, Streamlined Application for Recognition of Exemption filings, is now available online for the first time. The data on IRS.gov is available in spreadsheet format and includes information for approved 1023-EZ applications beginning in mid-2014, when the form was introduced. The information will be updated quarterly. The […]
Now accepting applications for the 2017 RTA Tennis Community Scholarship presented by Perkins Law, PLLC. Recognizing that tennis offers a pathway to a healthy and fulfilling life, the RTA and Perkins Law are proud to offer a $1,000 college scholarship to the male and female graduating senior (from a public high school in the Metro […]
Check out RVA BizLaw Episode Two which features more about Virginia LLCs, including the seven key issues to address in an LLC Operating Agreement! Episode three will guide viewers through the world of franchising. Contact Perkins Law for details about our flat fee LLC formation packages.
Ready for a 6-minute introduction to Virginia LLCs and why they have become such a popular choice of entity in the small business community? Then click below to watch the first episode of the new RVA BizLaw series. The next episode will feature more about Virginia LLCs, including seven key issues to address in an […]
The IRS announced today the release of an updated Form 990-EZ, Short Form Return of Organization Exempt From Income Tax, that will help tax-exempt organizations avoid common mistakes when filing their annual return. The new version of Form 990-EZ includes 29 “help” icons describing key information needed to complete many of the fields within the form. The […]
Who would think that the bankruptcy of an emerging growth company could impact the nonprofit community in a dramatic way? Well, ask around the RVA nonprofit community and how they are being impacted by the Health Diagnostics Laboratory (HDL) bankruptcy case which has been trudging its way through bankruptcy court since 2015 with no end in sight. How does […]
Life for prospective and new franchise owners can be both exciting and overwhelming, hundreds of decisions to make and details to address each and every day—especially during the start-up phase. Here are a few contract and compliance tips as you forge ahead on your quest for success as an independently owned and operated franchise owner. […]
The Virginia LLC has become an enormously popular choice of entity for small business startups through the Commonwealth. Limited liability protection, pass-through tax treatment, minimal statutory formalities, and maximum flexibility in designing a governance structure and economic sharing arrangements among owners are a few reasons why. Click here for a quick introduction to the Virginia limited […]
Going into business with one or more other people offers many potential benefits and risks. You hope for success, but need to plan for the worst. A carefully drafted agreement among a group of business partners is important to memorialize owner expectations and understandings concerning a variety of important topics. Click here for a short […]
Richmond small business and nonprofit law firm Perkins Law, PLLC has signed on as a sponsor of the SCOREcard Business Model Competition for the second year in a row. The business startup competition, featuring a $5,000 cash prize and free office space to the winner, is now open for registration through the end of January. A […]
The Perkins Law team is finalizing plans to commence production of a series of informative video clips (typically just a few minutes in length) and live broadcasts on various topics of interest for the RVA small business, franchise, and nonprofit communities. Keep an eye for the first episode of the new RVA Biz Law series to […]
Are you considering becoming a franchise owner? When done correctly, franchising is a great way of doing business for both franchisors and franchisees. Success is not guaranteed, however, and franchised businesses can and do fail. To improve their chances of long term success, prospective franchisees have to do their homework (lawyers refer to it as […]
Virginia is consistently ranked as one of the best places in America in which to do business. Virginia’s business entity statutes offer entrepreneurs a variety of options for structuring new business activities and investments. Click here for a five-minute crash course on the basics of Virginia business entities. Not sure which form of entity makes sense […]
Receiving an IRS determination letter recognizing tax-exempt status is an exciting moment in the existence of a young nonprofit organization, but there are many other legal, compliance, and governance issues to consider in the months and years to come. Read a few tips here and contact Perkins Law with questions. Ask us about our flat fee […]
Perkins Law was excited to be a sponsor of the most recent Virginia Franchise Forum networking event at the Westwood Club. For the 8th year in a row, FRANdata presented its franchising year in review and forecast for next year. Senior research analyst Anya Nowakowski gave a fact-filled presentation and eagerly responded to questions from […]
Like a good movie, employment relationships have a beginning, middle, and end. As a small business owner, neglecting any of them can lead to big trouble for your business. The termination process can be particularly stressful for employers, so it is helpful to approach that reality of small business ownership with care and proper planning. […]
After his impressive keynote address at the 2016 Clio Conference in Chicago, I could not wait to read Gary Vaynerchuk’s latest book, #AskGaryVee: One Entrepreneur’s Take on Leadership, Social Media, and Self-Awareness. A thoroughly entertaining and informative compilation of questions and answers from Gary’s regular #Ask GaryVee Show on YouTube, where he fields questions on marketing, […]
Perkins Law had a great time exhibiting at the recent Home-Based Business Resource Fair and Conference in Williamsburg organized by he York County Chamber of Commerce. Well over 100 small business owners and entrepreneurs attended a full day of workshops, panel discussions, and networking. One or my favorite presenters was Alice Cooke, owner of CakeAlicious in […]
Thank you to today’s attendees and the Richmond SCORE chapter for the invitation to speak at today’s First Step Workshop for Prospective Business Owners. Here’s a quick list of some of the topics discussed during my session: 1. Business entities in Virginia–lots of choices, 2. Why sole proprietorships are NOT the best choice for […]
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 18 different practice areas. In 2016, 1,300 lawyers nominated nearly 3,800 […]
Thumbs up to Patagonia, one of today’s leading social entrepreneurs for donating 100% of its Black Friday sales to charity. A great example of how benefit corporations are making a difference in communities across the nation. Coming up soon is the anticipated release of the 2016 edition of the Perkins Law Mater List of Virginia Benefit Corporations, marking the […]
Like the rest of the country, the Virginia small business community has been anxiously planning for the Department of Labor’s new overtime rules to go into effect on December 1, 2016–the basic effect of which would be to increase the number of existing employees eligible for overtime pay if they work more than 40 hours […]
RVA small business, franchise, and nonprofit attorney Eric Perkins has been selected as a Virginia “Super Lawyer” for the 5th year in a row. Super Lawyers selects attorneys using a patented multi-phase selection process. Peer nominations and evaluations are combined with independent research. Each candidate is evaluated on 12 indicators of peer recognition and professional […]
Richmond small business and franchise law firm Perkins Law, PLLC has been recognized by U.S. News & World Report in its “Best Law Firms” rankings for 2016-2017. “Best Law Firms” chooses lawyers based on client and peer reviews, as well as professional excellence.
Nonprofit organizations often struggle recruiting and retaining volunteers, and they try valiantly to come up with creative ways to recognize and reward those individuals who generously contribute their time and talent to the organization. Nonprofits need to be careful that they do not inadvertently create employment relationships or trigger taxable events in this context. Let’s […]
Did you know that there are an estimated 38 million home-based small businesses across the U.S.? The small business community is a driving force in our economy, but too often does not get the attention it deserves. Well, if you come to the York County Home-Based Business Fair and Conference this Friday (November 18, 2016) […]
An estimated crowd of 1,000 people came out to Glen Allen High School last night for “An Evening with Henry Winkler” to benefit the Henrico Education Foundation. Winkler entertained the audience with inspiring comments and anecdotes from his life and career as an actor, director, and author. Several of his memorable comments and tips resonate […]
A commonly asked question by entrepreneurs and prospective small business owners during initial brainstorming sessions is “Should I go with an LLC or an S corp.?” Well, for many Virginia small businesses, the optimal answer is BOTH. You can own and operate your business through a Virginia limited liability company AND file an election to […]
Tennis legend and equal rights advocate Billie Jean King was in RVA Thursday night as the featured speaker of a program sponsored by the VCU College of Humanities and Sciences commemorating he 40th anniversary of the 4th Circuit Court of Appeals decision forcing VCU to officially recognize the Gay Alliance of Students as a student […]
If you are a small business owner in Virginia, you have hundreds of decisions to make and risks to manage every day. Who serves as registered agent for your Virginia business entity is certainly one of the smaller, less significant decisions, but it is nonetheless an important one and it can have expensive consequences if […]
RVA small business attorney Eric Perkins was the featured speaker at the October meeting of the Richmond Chapter of the Window Coverings Association of America. The two-hour discussion included the advantages of LLCs as a choice of business entity, key issues to negotiate with business partners, the importance of properly classifying your workers, the pros […]
The Virginia limited liability company (“LLC”) has become a popular choice of entity among small business owners and entrepreneurs for the simplicity, flexibility, limited liability protection, pass-through tax treatment, and other benefits afforded by law. Click here to view an initial list of questions that should be discussed among business partners (and their advisors).
Recruiting and retaining a talented team is just as important for small businesses as it is for professional sports organizations. I’ve had recent conversations with several local entrepreneurs who shared their current challenges and frustrations with staff turnover. What can a small business owner do to promote a greater sense of loyalty and engagement from […]
Need a quick intro to trade associations, business leagues, and other 501(c)(6) organizations? Click here for a few of the basics and contact us to learn more about our flat fee packages for exempt organizations.
I had a great time attending my first Clio Conference two weeks ago in Chicago. Enjoyed meeting the Clio team, networking with other solo and small firm practitioners (including quite a few with Virginia connections), and winning an Amazon Kindle and Amazon Echo in two separate prize drawings! Here are a few of the more […]
Click here to view article.
One of the great sporting events in America, the U.S. Open starts on Monday in New York. Aside from the entertainment value of watching the world’s best tennis players compete for one of the most prestigious trophies in sports, you can also get a crash course on tennis rules by watching the on-court action and […]
Ten years ago, the syndicated 1031/TIC market was exploding with roughly 75 real estate sponsors raising over $4 billion in equity, then came the Great Recession and the industry more or less shut down, with many of those sponsors (and the independent broker-dealer firms who marketed the product) closing down with it. We know the […]
Are you considering becoming a franchise owner? When done correctly, franchising is a great way of doing business for both franchisors and franchisees. Success is not guaranteed, however, and franchised businesses can and do fail. To improve their chances of long term success, prospective franchisees have to do their homework (lawyers refer to it as […]
For many people, terminating an employee is the most dreaded part of owning a business. On the other hand, maintaining a fully-engaged, high-functioning team is critical to the success of a business, and there are times when it becomes clear that an employee needs to be let go. How an owner or manager handles that […]
Eric Perkins, the current chair of the USTA Tennis Rules and Regulations Committee, will be leading an interactive workshop on tennis rules and etiquette on September 13, 2016 at the Westwood Club. Why is it important to know the rules? Where can you find them online? What are some of the most misunderstood rules in […]
I am excited to have been invited to speak about social entrepreneurship and Virginia benefit corporations at the September meeting of the Thomas Jefferson Chapter of the Virginia Society of CPAs. The half-day conference will take place at the Omni in downtown Charlottesville on Wednesday morning, September 14, 2016. Email us if you’d like a […]
The road to a successful business acquisition can be a long and winding one with lots of obstacles along the way. Once a letter of intent has been signed to memorialize the basic structure and economics of the deal, a potential buyer typically begins a due diligence review or “deep dive” into the target business […]
Ivy Oaks Analytics’ Founder and CEO Isaiah Ham presented his company’s vision and purpose at RVA’s One Million Cups…
Who are Virginia’s champions of social entrepreneurship?
Consider the potential advantages of a Virginia limited liability company (LLC).
The limited liability company (“LLC”) is a type of business entity that has been recognized under Virginia law since 1991. For many business owners, the LLC form offers…
An often ignored part of the estate planning process is obituary drafting…
Ever considered franchising as a path to business ownership?
An often ignored part of the estate planning process is obituary drafting—a morbid task for many, but a valuable planning opportunity that your loved ones will surely appreciate.
Ever considered franchising as a path to business ownership? If so, then careful planning and research are a must.
Perkins Law, PLLC and the Richmond Tennis Association have teamed up to offer a $1,000 college scholarship to a select male and female Metro RVA senior.
Consider these 10 discussion questions for Virginia LLC startups. This article provides an initial list of questions that should be discussed among business partners (and their advisors).
Consider these 10 discussion questions for Virginia LLC startups.
Perkins Law office manager, Keri Fagan, joined a handful of other RVA small business owners and entrepreneurs at One Million Cups.
Fifteen tips to help you navigate through the hiring process.
The Perkins Law team is seeing a lot of small business acquisition activity in the RVA business community – a great sign for the local economy.
Henrico County small business and nonprofit law firm Perkins Law, PLLC has agreed to renew its sponsorship of the Grey Oaks Aquatic League (GOAL) for 2015.
Richmond small business and franchise law firm Perkins Law, PLLC has been recognized by U.S. News & World Report in its “Best Law Firms” rankings for 2015.
Join the Virginia Franchise Forum on November 19 from 5:30-7:00pm at The Westwood Club.
Secure a seat for the Perkins Law Prospective Franchisee Workshop led by small business and franchise attorney, Eric Perkins.
Perkins Law sponsored a Best Costume Contest at Short Pump Rotary’s Great Pumpkin Race…
Thumbs up to RVA management consulting firm Warren Whitney for another great networking event this morning at Willow Oaks Country Club.
Richmond business and nonprofit attorney Eric Perkins has been chosen to host the Class of 2015 Richmond Tennis Hall of Fame induction ceremony…
Thumbs up to Henrico EDA for a great half-day business conference featuring tips, experiences, and insights from some of RVA’s leading entrepreneurs and business leaders.
Richmond’s 1 Million Cups provides a great floor for entrepreneurs to present their new business ventures with the community.
Incredible presentation by local entrepreneurs Scott and Melissa Black (Bombshell Brazilian Waxing and Beauty Lounge) at 1 Million Cups event…
The Center for Nonprofit Excellence and the Thomas Jefferson Chapter of the Virginia Society of CPAs put on a great conference for the central Virginia nonprofit community…
The Short Pump Rotary Club is organizing the Great Pumpkin Run, featuring a 5K run/walk, kids fun run, and a costume contest sponsored by Perkins Law, PLLC.
Perkins Law is pleased to announce that RVA small business attorney Eric Perkins has been selected to serve as a mentor for the Thrive Network.
Perkins Law office manager, Keri Fagan, joined a handful of other RVA small business owners and entrepreneurs at One Million Cups…
The Perkins Law team is seeing a lot of small business acquisition activity in the RVA business community – a great sign for the local economy.
The SCOREcard competition application deadline has passed and 27 local entrepreneurs have entered, representing a wide variety of industries.
Perkins Law shares tips and strategies for employee retention and reward programs…
Perkins Law shares a quick introduction to Regulation D Private Offerings.
Join the VFF’s panel of experts who will discuss and debate pressing challenges and concerns facing the franchise industry.
The night will showcase top juniors in the area…
Perkins Law is sharing Ten Tips for Happiness as a Small Business Owner.
Experts offered many regulatory insights and updates on the world of Virginia franchising…
Richmond business attorney, Eric Perkins, led an interactive discussion about LLCs and other types of business entities at yesterday’s monthly membership meeting of Richmond’s SCORE Chapter.
There are three valuable lessons from Dave that all entrepreneurs and biz owners would be wise to follow…
Check out Perkins Law’s flat fee registered agent service package…
I recently purchased a copy of the new book Get What’s Yours – The Secrets to Maxing Out Your Social Security…
Local consulting firm Impact Makers, are gifting their equity ownership in the company to local nonprofits for the sake of philanthropy and to promote a higher level of social entrepreneurship.
The newest franchise to debut in the Richmond area is Zaxby’s…
First debuted in the Outer Banks of NC, Duck Donuts recently opened shop in the Willow Lawn Shopping Center…
Congratulations to local nonprofit organizations Diversity Richmond and The Doorways for their recent rebranding efforts as reported in today Richmond Times Dispatch.
A sold-out crowd at The Paramount Theater in downtown Charlottesville, VA enjoyed a full day of presentations and panel discussions on a variety of entrepreneurship topics…
A new two-year term and the administration of new USTA President Katrina Adams formally got underway at the Boca Raton Resort and Club…
Salisbury Country Club tennis pro Cesar Grobel defeated Michal Ciszek 10-6 to win the Perkins Law $500 Winner-Take-All Challenge at the 7th annual Friday Night Lights tennis event…
Perkins Law, PLLC is excited to offer a $1,000 college scholarship to the male and female graduating senior who best (and most creatively) exemplify all the great things tennis has to offer.
Learn more about the key issues business partners should to discuss during the start up phase of a Virginia LLC!
Only a few tickets remain for the upcoming Friday Night Lights Tennis Event…
Whether you label it unethical behavior, lapse in judgment, bending the rules, pushing the envelope, or just an innocent mistake, our society today seems to have increasingly little tolerance or sympathy for those who lie or cheat for personal gain…
For a young physician, his or her first employment agreement with a health care company or physician group is a major milestone.
The topic of discussion will focus on franchising–what is it, what laws regulate it, what to look for before buying one…
Social entrepreneurship is alive and well in the Commonwealth of Virginia, as evidenced by the growing number of Virginia benefit corporations in existence.
National BBQ chain and franchisor Famous Dave’s abruptly closed all three of its RVA locations this past week…
Perkins Law is pleased to be a sponsor of the upcoming Virginia Franchise Forum event…
Come out to celebrate the 10-year anniversary of Lobs & Lessons on Saturday, October 25 with a nighttime glow-in-the-dark experience!
How important is a strong commitment to business ethics to the success of your company?
Interested in hearing real-life stories of the highlights and challenges of franchise ownership? Join the Virginia Franchise Forum on September 17…
Richmond business and Regulation D compliance attorney Eric Perkins will be a panelist for a program titled “Emerging Structures in Private Placements”…
This past Monday, Perkins Law had the privilege of volunteering with Junior Achievement at GH Reid Elementary School in Richmond City.
Perkins Law, PLLC has recently signed on as a sponsor of two upcoming business conferences being organized by the Henrico Economic Development Authority.
The Perkins Law team enjoyed meeting a great group of entrepreneurs on Wednesday and having an interactive dialogue on all things franchising.
Millions of small businesses are operating with no formal business structure – exposing the owner to personal liability and limiting business growth and marketability.
When an entrepreneur goes to form a Virginia limited liability company (or corporation), one of the three or four required bits of information for the Articles of Organization is a designation of a registered agent of the LLC.
The Private Placement Improvement Act of 2014 (H.R 4570) is working its way through Capitol Hill. How far this proposed legislation will make it is uncertain…
Join Perkins Law for a 60 minute introduction to franchising for entrepreneurs and others exploring options for business ownership on August 6, 2014.
The IRS has released a new, streamlined Form 1023-EZ that offers the promise of a more efficient process for small organizations to apply for recognition of 501(c)(3) exempt status.
The RVA franchise community will welcome a new franchise system to town this fall with the projected opening of a Duck Donuts location at Willow Lawn.
The Perkins Law team successfully completed the 10.1-mile, 20-obstacle Virginia Tough Mudder course on Saturday in just under four hours.
Thanks to the folks at the Center for Nonprofit Excellence in Charlottesville for the invitation to come speak today on the topic of reducing risk of fraud for nonprofits.
As a business attorney, my job is to help clients plan ahead, memorialize their key business transactions and relationships in writing, comply with applicable laws, and sleep easier at night.
At long last, the SEC has voted 4-1 to approve a rule allowing private offering issuers and sponsors to publicly advertise their Regulation D, Rule 506 private securities offerings.
Check out the article “Frequently Asked Questions About Accredited Investors in Regulation D Private OFferings”.
A great crowd of local franchisors, franchisees, prospects, and other members of the central Virginia franchise community gathered at the Westwood Club for the Virginia Franchise Forum’s quarterly meeting.
Are we allowed to sell advertising on our website (or our newsletter or event programs)?
There was a standing room only crowd at C & F Bank’s commercial loan office at Innsbrook this morning as a panel of local SBA financing experts offered their insights and recent experiences.
Lest anyone think that opening a franchised business is a guarantee of success, consider the fate of Three Guys Pizza Pies in Short Pump.
Eric Perkins served as panelist at Sunday’s Real Estate Investment Securities Association Annual Conference at Caesar’s Palace in Las Vegas.
The Polaroid brand lives and is rolling out a national franchise program.
The RVA craft brewery scene has been quite prolific in recent years with no immediate signs of slowing down. As these startups mature into emerging growth companies, raising capital becomes a major topic of strategic planning and discussion.
Perkins Law is privileged to work with many respected members of the Virginia nonprofit community, both newly formed and established organizations.
The Virginia Franchise Forum is pleased to have franchising expert Joe Bourdow, former President of Valpak and board member of the International Franchise Association, as featured speaker for its next quarterly networking event.
Join C3 ED: Left Brain Advice for Right Brain Professionals for a lunch workshop on how to franchise your business led by Eric Perkins of Perkins Law, PLLC on May 14 from 12pm noon to 1pm.
Joe Bourdow shared many pearls of franchising and business wisdom at the Virginia Franchise Forum’s quarterly networking event…
Perkins Law is a proud sponsor of the upcoming Greater Richmond Chamber of Commerce After Hours biz networking event at Richmond International Raceway’s Torque Club.
Richmond franchise attorney Eric Perkins will speak about the basics of franchise law and franchise agreements on Tuesday evening at 6:30 at the Meadowdale Library in Chesterfield County.
Kudos to the folks at Murphy & McGonigle and LeClair Ryan for organizing today’s crowdfunding conference at the Omni Hotel in downtown Richmond, Virginia.
Richmond business attorney Eric Perkins will be the featured speaker at the next Focus Group program at Can Can Brasserie on W. Cary Street on Tuesday morning, February 18 2014.
Richmond business and franchise attorney will be speaking on business ethics and franchising at two separate events on Tuesday, February 18.
If you are a tennis fan, then you want to mark your calendar for Saturday, February 8, 2014 at 10:00 am at the Grace Street Theater.
Richmond business attorney Eric Perkins, managing owner of Perkins Law, PLLC, was recently announced as a member of the 2013 Super Lawyers list in the Business/Corporate practice area.
Richmond business attorney Eric Perkins of Perkins Law, PLLC presented an update on the JOBS Act and its implications for the alternative investment industry on Wednesday, October 23.
Best wishes to local franchise consultant (and Entrepreneur Source franchisee) Gus Lurillo, who will be a contestant on the game show Jeopardy!
The Virginia Franchise Forum convened on September 25, 2013 at the Westwood Club for an evening reception and panel discussion.
“The Perkins Five-Finger Philosophy of Nonprofit Board Composition,” workshop led by business and nonprofit attorney Eric Perkins of Perkins Law, PLLC from 11:30 – 1:00 p.m. on Wednesday, November 30, 2011.
Richmond nonprofit attorney Eric Perkins is slated to participate in an upcoming community tennis association workshop in conjunction with the USTA/Virginia Tennis Annual Meeting at the Country Club of Virginia in Richmond on October 29.
Richmond business and nonprofit attorney Eric Perkins is working with contributing authors Tom Hood and John Packett and publisher Wayne Dementi of Dementi Milestone Publishing to write a book celebrating the modern history of tennis in Richmond.
Perkins Law extends a warm franchising welcome to Sky Zone Indoor Trampoline Park, which just opened its first Richmond-area location.
Over a thousand leaders in the alternative investment industry wrapped up three days of education and networking at Caesar’s Palace in Las Vegas earlier today.
Richmond business attorney Eric Perkins of Perkins Law, PLLC presented an update on the JOBS Act and its implications for the alternative investment industry on Wednesday, October 23.
In my experience, there are relatively few situations in which a membership organization is the optimal choice of structure for a Virginia nonprofit organization.
The IRS is currently doing a compliance “spot check” on over 1,000 exempt organizations falling under 501(c)(4), (c)(5), and (c)(6) to gather information on these types of self-declared exempt organizations, assess compliance efforts, and promote voluntary compliance…
Astroturfing is the practice of masking the sponsor of a message to give the appearance that it comes from an independent, disinterested source. A business owner would be astrosurfing by posting a positive review of his or her business…
The Perkins Law team is compiling a master list of Virginia benefit corporations–who they are, where they are located, what they do–in an effort to promote greater awareness and understanding of social entrepreneurship in Virginia.
When choosing a Virginia business entity, many point to the fewer formalities and paper work as one advantage of conducting business through a Virginia limited liability company rather than a stock corporation.
A commercial lease often represents the most significant legal obligation and expense for a start-up business. Business owners should not take the lease review and negotiation process for granted.
According to a recent report by Forbes, CouchSurfing.org has decided to convert to a “B” or “Benefit” Corporation in order to receive $7.6 million in funding from Benchmark Capital and the Omidyar Network.
The newest franchise to join the local business community is the Flip Flop Shop, which recently opened a location at Short Pump Town Center.
Some media and marketing experts will tell you the best marketing for your business will often come for free.
Roanoke restaurant developer Roland “Spanky” Macher is learning a hard lesson about the perils of not properly accounting for payroll taxes withheld from employees.
The “group buying” or daily discount promotions offered online through Groupon, LivingSocial, and other players racing into the marketplace can be beneficial to your small business if done correctly….
Raising capital from outside investors, whether from “friends and family” or an angel investor, will often trigger the application of federal and state securities laws.
The Virginia SWaM Procurement Initiative was established in 2006 to provide new business opportunities for small, women- and minority-owned businesses.
While many entrepreneurs and small business owners are fond of the sole proprietorship as a business structure due to its simplicity, there are a variety of disadvantages and shortcomings to the sole proprietorship.
If you believe what you read, you might come to associate Regulation D private placements with bad deals, ponzi schemes, scam artists, and unscrupulous securities brokers pushing bad investment products on innocent people.
Companies and sponsors thinking of raising capital through a private offering should devote the time and resources necessary to understand and appreciate the importance of securities law compliance.
Richmond business and nonprofit lawyer Eric Perkins will lead a workshop at the Virginia Fund Raising Institute 2011 on July 18-19, 2011 at the Wyndham Virginia Crossings Conference Center.
In many situations a business entity will conduct business under a trade name different from its legal name (e.g., ABC Enterprises, LLC operating a restaurant named “Big Bob’s House of Ribs”).
I was pleased to see over three dozen nonprofit leaders and organizers in attendance at last Wednesday’s workshop organized by ConnectRichmond.
The SEC announced a proposed rule change to Rule 501(a)(5) of Regulation D as required under Section 413(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
CNBC’s recent show examining the world of franchising offered a reasonably insightful and balanced overview of franchising.
What promises to be a no-holds-barred look into the modern world of franchising airs this Wednesday night (December 15) at 9:00 pm eastern on CNBC.
What promises to be a no-holds-barred look into the modern world of franchising airs this Wednesday night (December 15) at 9:00 pm eastern on CNBC.
Richmond business attorney Eric Perkins has been named to Virginia Business Magazine’s 2010 “Legal Elite” in the Business Law category.
April RVA Nonprofit Spotlight: The Vets on Track Foundation (VoTF)
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for April 2024 is The Vets on Track Foundation (VoTF). Perkins Law salutes VoTF for its mission to initially furnish homes for veterans and first responders transitioning into permanent housing from homelessness and then work […]
March RVA Nonprofit Spotlight: Backpacks of Love
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for March 2024 is Backpacks of Love. Perkins Law salutes Backpacks of Love for its mission to eliminate hunger in school-age boys and girls in Central Virginia by providing food for their weekends.
Local Franchisee Earns National Recognition
Perkins Law has had the privilege of working with many local franchise owners over the years, and it is especially exciting to see them grow and succeed in their chosen industries. The latest example is Hayes Enterprise, LLC, an Executive Home Care franchisee. Founding owner Tim Hayes recently reached out to let me know that […]
February Nonprofit Spotlight: Branches of Life
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for February 2024 is Branches of Life. Perkins Law salutes the Branches of Life for its mission to deliver intentional, person-centered services to people with intellectual disabilities and autism to aide in the pursuit of meaningful […]
NEW COMPLIANCE REQUIREMENT FOR SMALL BUSINESS OWNERS WHAT YOU NEED TO KNOW STARTING JANUARY 1, 2024
Introduction Effective January 1, 2024, the Corporate Transparency Act (“CTA”) now imposes reporting requirements on most small business entities (corporations, limited liability companies, certain partnerships, etc.), which will require an electronic filing providing information on certain “beneficial owners” and other associated persons with the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the U.S. Department […]
Thumbs Up to Workbench RVA!
One of the great things about being a small business and nonprofit lawyer is that I get to work with an amazingly diverse, talented, and passionate group of people every day. Check out the latest update on one of RVA’s unique small businesses—The Workbench, LLC—as featured in Richmond BizSense: DIY woodworking shop reopens near The […]
January Nonprofit Spotlight: Virginia Farmers Market Association
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for January 2024 is Virginia Farmers Market Association (VFMA) for its mission to support farmers markets through education initiatives, while building opportunities for collaboration, networking, advocacy, and innovation that supports the growth and sustainability of […]
Perkins Named a Business Law “Legal Elite” by Virginia Business Magazine
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2023. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 20 different practice areas.
December Nonprofit Spotlight: Fore Children Inc.
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for December 2023 is Fore Children Inc. for its mission to provide deserving youth access to the best golf facilities and programs throughout the Richmond region. Check them out at www.forechildreninc.com
November Nonprofit Spotlight: Sisters Network Inc.
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for November 2023 is Sisters Network Inc. Perkins Law salutes the Sisters Network Inc. for its mission to increase local and national attention to the devastating impact that breast cancer has in the African American community.
Look What’s Coming Up! Small Biz/Nonprofit Alert from Perkins Law
There is an upcoming Small Business Networking event sponsored by SCORE on November 14, 2023 from 5pm-7pm at Garden Grove Brewery and Urban Winery.
Is Crumbl the New King of Cookie Franchises?
I have been a loyal Crumbl customer since they entered the Richmond market a few years ago. As Starbucks did with coffee, Crumbl has successfully pushed the price point for a cookie to a premium level. Ever considered becoming a Crumbl franchise owner? Here are a few things worth considering: On a positive note: Started […]
Perkins Law Scholarship 2023 Recipient Announced
One of the highlights at Perkins Law every fall is the announcement of scholarship recipients at the Bon Secours Memorial College of Nursing. For the sixth year in a row, Perkins Law has sponsored a scholarship to help a deserving nursing student on his or her path to a professional career in nursing. With the […]
October Nonprofit Spotlight: Hitting Cancer Below the Belt (HCB2)
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for October 2023 is Hitting Cancer Below the Belt (HCB2). Perkins Law salutes HCB2 for its mission to provide community education, early detection services for the uninsured, and direct support services for patients and survivors […]
Choosing a Fiscal Year for a Nonprofit Organization
One of the important decisions nonprofit leaders need to make during the organizational stage is choosing a fiscal year that aligns with the organization’s mission and other factors. A fiscal year is a 12-month financial reporting period that determines when a nonprofit organization starts and ends its accounting cycle. When selecting a fiscal year, several […]
Look What’s Coming Up! Small Biz/Nonprofit Alert from Perkins Law
There is an upcoming Best Practices Workshop event sponsored by SCORE titled “Legal & Accounting Basics for Virginia Entrepreneurs” on October 24, 2023 from 12pm-2pm at the Publix at John Rolfe Commons. Click here for more info.
Look What’s Coming Up! Small Biz/Nonprofit Alert from Perkins Law
There is an upcoming Small Business Networking event sponsored by SCORE on October 19, 2023 from 8am-10am at the Dominion Energy Innovation Center. Click here for more information.
RVA to Host Black Tennis Hall of Fame 15th Annual Induction Ceremony
The Black Tennis Hall of Fame is set to acknowledge and honor black excellence in tennis with their 15th annual induction ceremony at the Virginia Museum of History and Culture on September 23, 2023. Over the years, this organization has recognized legendary athletes, coaches, and contributors to the sport of tennis. As the years go by, […]
Look What’s Coming Up! Franchising Alert from Perkins Law
There is an upcoming “How To” workshop event sponsored by SCORE titled “Why Franchising? Introduction to Franchising as a Business Opportunity” on September 27, 2023 from 6pm-8pm at the Publix at John Rolfe Commons. Click here for more info.
Question of the Week: Are Donations to Friends Tax Deductible?
Question: I feel terrible for those affected by the recent Maui wildfires. An old friend living in Maui was displaced by the fires and lost everything she owns. I would like to organize a crowdfunding drive to provide financial support to her and would like to ask my church to serve as a conduit to […]
Look What’s Coming Up! Small Biz/Nonprofit Alert from Perkins Law
There is an upcoming “Best Practices” workshop event sponsored by SCORE titled “How To Launch a Nonprofit” on October 17, 2023 from 6pm-8pm at the Glen Allen Public Library. Click here for more info.
September Nonprofit Spotlight: Operation Enduring Warrior
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for September 2023 is Operation Enduring Warrior. Perkins Law salutes the OEW for its mission to honor, empower, and motivate our nation’s wounded military and law enforcement veterans through physical, mental, and emotional rehabilitation.
Look What’s Coming Up! Small Biz/Nonprofit Alert from Perkins Law
There is an upcoming “Best Practices” workshop event sponsored by SCORE titled “Be Your Own Publicist” on September 19, 2023 from 6pm-8pm. Click here for more info.
Perkins Named to “The Best Lawyers in America” List for 14th Year in a Row
RVA small business and franchise attorney Eric Perkins has been selected by peers in the legal community to be included in the 30th edition of The Best Lawyers in America for his work in franchise law for the 14th year in a row. With over 25 years of experience representing franchise systems and franchise owners, […]
Look What’s Coming Up! Small Biz/Nonprofit Alert from Perkins Law
There is an upcoming “Best Practices” workshop event sponsored by SCORE titled “Picture Your Success with a One-Page Business Model” on September 12, 2023 from 5:30pm-7:30pm. Click here for more info.
The Diverse World of Franchising
Thousands of businesses have pursued franchising as a growth strategy over the past 50 years. Many are household names with tens of thousands of locations around the world (e.g., McDonald’s, Subway, Kentucky Fried Chicken, Marriott) while others fizzled out without much fanfare. Seemingly every conceivable industry and business model has been franchised at some point. […]
Look What’s Coming Up! Small Biz/Nonprofit Alert from Perkins Law
There is an upcoming “Best Practices” workshop event sponsored by SCORE titled “Financial Basics for Small Business Owners” on September 13, 2023 from 6pm-8pm. Click here for more info.
August Nonprofit Spotlight: Honor Loan
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for August 2023 is Honor Loan. Perkins Law salutes the Honor Loan for its mission to empower people by teaching the entrepreneurial mindset for personal and professional growth.
Ten Networking Tips for Small Business Owners Using the “Little Black Book of Connections” by Jeffery Gitomer
As a small business owner, you likely already understand the importance of building connections and developing a loyal customer base. But precisely how do you accomplish those things? Best-selling author Jeffery Gitomer’s “Little Black Book of Connections” is a helpful resource in this regard and here are ten quick tips gleaned from Gitomer’s book. 1. […]
July Nonprofit Spotlight: Caring Clothes Closet
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for July 2023 is Caring Clothes Closet. Perkins Law salutes the Caring Clothes Closet for its mission to address the immediate needs of people in the Richmond, Virginia Metro Area by providing free clothing to families […]
Tip for Small Business Owners: “Make Your Bed for Success” by Following the Advice of Admiral McRaven
William McRaven is a retired four-star Admiral who served in the United States Navy for 37 years. He is known for his inspiring speeches and books on leadership. One of his best-selling books is “Make Your Bed: Little Things That Can Change Your Life…And Maybe Even the World.” In this engaging, easy-to-read book, McRaven begins […]
The Importance of Due Diligence for Prospective Franchise Owners
Franchising has become a popular business model for first-time entrepreneurs looking to own their own business. By acquiring a franchise, you get instant access to an established brand and a collection of what should be proven business practices and marketing tools. However, before jumping into a franchise opportunity, you would be well advised to conduct […]
USTA’s Net Gen Parents Webinar
MARK YOUR CALENDAR!! USTA’s Net Generation is conducting an upcoming webinar on Wednesday, June 21 from 12:30 – 1:15pm on nurturing great sportsmanship and competitiveness with guest speaker Christina McHale. The former WTA Pro will shares her experience on the importance of sportsmanship and how it can help elevate your child’s game. Click here for […]
Flat Fee Legal Support Services for Virginia Nonprofits
Looking for corporate governance , compliance, and regulatory guidance? As part of its continuing commitment to the Virginia nonprofit community, Perkins Law is pleased to offer a package of legal support services on a flat fee basis . Nonprofit organizations, staff , and executives can enjoy access to legal advice and resources covering a wide […]
June Nonprofit Spotlight: LIiDA (Legal Intervention in Domestic Abuse)
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for June 2023 is LIiDA (Legal Intervention in Domestic Abuse). Perkins Law salutes LIiDA for its mission to fund free legal representation to obtain protective orders for victims of domestic abuse, stalking, and harassment.
Form 990 Filing Deadline for Calendar-Year Based Exempt Organizations
For those exempt organizations operating on a calendar-year basis, don’t forget that your Form 990 for 2022 (whichever version you are required to file) is due by May 15th. Not to be a downer, but also keep in mind that if you neglect to file for three consecutive years, then the IRS will automatically revoke […]
May Nonprofit Spotlight – Richmond Tennis Association
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for May 2023 is the Richmond Tennis Association. Perkins Law salutes the RTA for its mission to provide a variety of tennis programs and events throughout the year for tennis players of all ages and […]
Five Good Things to Know About Virginia’s New Pass-Through Entity Tax Law
1. What is the PTE Tax Law? Virginia’s PTE tax law, enacted in 2022, allows a qualifying pass-through entity (“PTE”) to make an annual election for tax years 2021 through 2025 to pay income tax at a rate of 5.75% at the entity level. 2. What is a Qualifying PTE? A PTE that qualifies to […]
April is National Volunteer Month!
HOW TO OBSERVE NATIONAL VOLUNTEER MONTH: -Thank a volunteer. -Volunteer! Many volunteers will tell you it is a rewarding experience. -Do you have a special talent or skill that may benefit a charity or organization? Offer your services or ask how you can be of help. -Share volunteer opportunities with friends https://nationaldaycalendar.com/national-volunteer-month…/
Happy 14th Birthday Perkins Law!
Perkins Law turns 14 years old this April! Serving the RVA small business and nonprofit communities has been such a rewarding experience and would not have been possible without the vast (and always growing) network of inspiring and loyal clients, colleagues, and friends that have trusted us with their transaction and compliance needs. The Perkins […]
April Nonprofit Spotlight: Partnership for the Future
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for April 2023 is Partnership for the Future. Perkins Law salutes PFF for its mission to provide crucial resources for promising students with limited means who have their sights set on a college education – […]
Quick Tip for Nonprofits—IRS Determination Letters Now Available Online
In a relatively recent development in the nonprofit world, you can now download copies of original IRS Determination Letters (issued January 1, 2014 and later) using the IRS on-line search tool Tax Exempt Organization Search (TEOS). Over the past few years, I have had several nonprofit clients report that they had not received their IRS Determination […]
Perkins Law Proud Corporate Patron of the Virginia Museum of History & Culture
Perkins Law is proud to be a Corporate Patron of the Virginia Museum of History & Culture. If you have not enjoyed this world-class history museum experience, do yourself a favor and check out one of the nation’s top history museums conveniently located on Arthur Ashe Boulevard. For more details, visit www.VirginiaHistory.org.
Navigating Lease Assignment Issues in a Small Business Acquisition
When buying a small business, a third party that often is very influential in determining whether an acquisition will close in a timely fashion (if at all) is the commercial landlord that owns the office building or shopping center in which the target business is located. Assigning an existing lease or negotiating a new lease […]
March Nonprofit Spotlight: Side by Side
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for March 2023 is Side by Side. Perkins Law salutes Side by Side for its mission to create supportive communities where Virginia’s LGBTQ+ youth can define themselves, belong, and flourish.
Recent NLRB Decision May Have Big Impact on Severance Agreements
In a recent decision from the National Labor Relations Board (“NLRB”), the government has essentially put employers on notice that they can no longer “silence” terminated employees with broad confidentiality and non-disparagement clauses that historically have been standard provisions in severance or separation agreements. According to the decision in Case Number 07-CA-263041, these provisions violate […]
Encorepreneurs! – SECRETARIAT – RACING INTO HISTORY
Great crowd on hand at Randolph Macon College for today’s Encorepreneur event with featured speaker Kate Tweedy. Kate shared memorable insights on the legacy of legendary Triple Crown winner Secretariat.
Perkins Law to Sponsor Bon Secours Memorial College of Nursing Scholarship for Seventh Year in a Row
Perkins Law, PLLC is excited to once again team up with Bon Secours Memorial College of Nursing to sponsor a nursing scholarship for the 2023-2024 academic year. It will provide tuition assistance for a deserving nursing student at the College. The Perkins Law team is grateful for the opportunity to play a small supporting role for […]
Major Overhaul to Reg. D on the Way?
All good things must come to an end. Or, perhaps it is better to frame the issue as the law must change with the times to reflect realities in the market and better serve the investing public. Whatever your view of the benefits and burdens of government regulation, SEC Regulation D has been a savior […]
February Nonprofit Spotlight: SevaTruck
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for February 2023 is SevaTruck. Perkins Law salutes SevaTruck for its mission to meet people where they are to help minimize their obstacles in getting nutritious meals.
Encorepreneurs! – A Front Row Seat to Richmond’s Business
Former Richmond Times Dispatch business editor Greg Gilligan was today’s featured speaker at Encorepreneur, sharing stories from his 30+ year career covering the Richmond business community. Greg also shared updates on his current work with RVA757 Connects and its initiatives helping the I-64 Corridor between RVA and Virginia Beach become the next global Internet hub. […]
January Nonprofit Spotlight: Worthdays
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for January 2023 is Worthdays. Perkins Law salutes Worthdays for its mission to mobilize the community to ensure that those impacted by the foster care system know they are important, worthy and celebrated.
RVA BizLaw Top Blog Posts for 2022
We posted about a lot of different topics and trends for the RVA small business and nonprofit communities this year. Here are a few highlights: 1. New Federal Reporting Requirement To Affect Millions of Small Businesses 2. Can a Nonprofit Organization Require Board Members to Donate? 3. Have You Identified A Flywheel for Your Business? 4. Showing […]
Perkins Law Nonprofit Spotlight Year in Review
As 2022 comes to a close, here’s another glimpse of the 12 local nonprofits we “spotlighted” this year. Inspiring work being done throughout RVA!
Perkins Named a Business Law “Legal Elite” by Virginia Business Magazine
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2022. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 20 different practice areas.
December Nonprofit Spotlight: Gayton Care Ministries
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for December 2022 is Gayton Care Ministries. Perkins Law salutes Gayton Care Ministries for its mission to help their neighbors in need in western Henrico and nearby Goochland through a food pantry.
SEC Announces Multi-Million Dollar Award for Whistleblower
No one proactively seeks to be a whistleblower when they show up to work in the morning. While people of high integrity and ethics will focus on doing the right thing when faced with an ethical dilemma, they do so at great risk. The life of a whistleblower is incredibly stressful and unglamorous. The good […]
The Different Forms of Bullying (and what to do about it)
When it comes to bullying, it is helpful to understand how the term is defined—not every mean, rude, or offensive act constitutes bullying (as a legal matter)—and that bullying comes in different forms. Misuse of the term diminishes the plight of victims and desensitizes the public to the magnitude and severity of the problem. Common […]
Perkins Law Scholarship Recipient Announced
One of the highlights at Perkins Law every fall is the announcement of scholarship recipients at the Bon Secours Memorial College of Nursing. For the fifth year in a row, Perkins Law has sponsored a scholarship to help a deserving nursing student on his or her path to a professional career in nursing. With the […]
Does Your Nonprofit Organization Need to Refile Form 1023-EZ?
QUESTION: A newly formed nonprofit organization filed IRS Form 1023-EZ to seek recognition of its exempt status under Section 501(c)(3). The IRS approved the filing and issued a determination letter recognizing the organization’s tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. Very soon thereafter, the organization recruited a few new board members, and […]
November Nonprofit Spotlight: Comfort Zone Camp
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for November 2022 is Comfort Zone Camp. Perkins Law salutes Comfort Zone Camp for its mission to transform the lives of children who have experienced the death of a parent, sibling, primary caregiver, or significant […]
NEW FEDERAL REPORTING REQUIREMENT TO AFFECT MILLIONS OF SMALL BUSINESSES
The Final Rule recently issued under the Corporate Transparency Act (“CTA”) represents a significant update to federal anti-money laundering laws and is estimated to affect millions of business entities by imposing new disclosure requirements on business owners. Here is a quick summary of the reporting requirements and a few tips to help you comply with […]
M&A Activity in the RVA Small Business Community Starting to Calm Down
According to a recent BizBuySell Insight Report, small business acquisition activity has slowed after posting five consecutive quarters of year-over-year growth. The number of closed deals reported in the third quarter of 2022 dropped 2% year-over-year and was 4.5% lower than the number reported for the second quarter. Just as importantly (if not more), small […]
October Nonprofit Spotlight: Heart Havens
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for October 2022 is Heart Havens. Perkins Law salutes Heart Havens for its mission to for its mission to provide residential support to adults with a developmental disability.
Can a Nonprofit Organization Require Board Members to Donate?
The simple answer is yes it can (and many do), but perhaps the bigger question is whether an organization really wants (or needs) to impose such a mandate? It is legally permissible for a nonprofit organization to require its directors to make an annual cash contribution to the organization as a condition to joining the […]
SCORE’s Fall Workshop Series Presents – How to Start Your Own Small Business
If you are thinking about starting your own business then consider signing up for SCORE’s upcoming LIVE 3-evening online workshop “How to Start Your Own Business” featuring local experts, including RVA’s small business attorney Eric Perkins on October 20th. This workshop will include presentations by local professionals and subject matter experts in business law, bookkeeping, insurance, finance, marketing and […]
Selling Your Small Business? What’s Next For You?
Selling your business is an exciting and rewarding conclusion to an entrepreneurial adventure that has perhaps consumed much of your adult life. A significant part of your sense of identity and self-worth might be closely associated the business that you are now about to transfer to someone else. As you consider how you will respond […]
Common Areas of Trouble Among Business Partners
The US Small Business Administration reports that small businesses make up 99.5% of all Virginia businesses and employ 1.6 million people, or more than 46.6% of the state’s workforce. Business relationships have their ups and downs, and the average relationship among business partners has a life span of less than five years. As a small business evolves, […]
September Nonprofit Spotlight: Jacob’s Chance
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for September 2022 is Jacob’s Chance. Perkins Law salutes FRIENDS Association for Children for its mission to enrich the lives of families by supporting youth and young adults with special abilities, through inclusive programs that promote skill […]
Free Legal Assistance to the Nonprofit Community from the UVA Law Nonprofit Clinic
The UVA Law Nonprofit Clinic offers free legal compliance check ups for area nonprofit organizations. The vast array of compliance requirements, governance issues, and other risks that nonprofit leaders have to navigate can be overwhelming for even experienced nonprofit volunteers and staff. For smaller, volunteer-based nonprofit organizations, obtaining much-needed legal assistance at an affordable price […]
Career Transition Tips from Michael Mason
The featured speaker at this month’s Encorepreneur meeting was Michael Mason, a former Marine, high-ranking FBI official, Verizon executive and, most recently, a Chesterfield County school bus driver. In a highly engaging presentation, Mr. Mason shared his life story and offered valuable insights on topics ranging from leadership to the importance of recognizing the value […]
National Nonprofit Day!
Happy national nonprofit day! Perkins Law offers flat rate packages for starting a nonprofit, maintaining governance and compliance, business structures for social entrepreneurship, and more. Contact us today!
August Nonprofit Spotlight: SOAR365
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for August 2022 is SOAR365. Perkins Law salutes SOAR365 for its mission to create life-fulfilling opportunities for individuals with disabilities.
Popular Small Business Strategic Combo – LLC with an “S” election
It is a common strategy in the small business community to operate legally through a limited liability company (“LLC”) and filing an election (IRS Form 2553) to have the LLC classified for tax purposes as an S corporation. The LLC is often an optimal choice of entity for a small business because of the limited […]
The Subtleties of Verbal and Body Language — Three Takeaway Tips from “You Can Read Anyone” by David J. Lieberman
As a nonprofit leader or small business owner, you are interacting with people on a regular basis in a variety of different settings. Knowing how to “read people” is a special skill learned through years of experience and interaction with others. “You Can Read Anyone” by David J. Lieberman is an interesting book offering specific […]
SCORE’s Summer Workshop Series Presents – How to Start Your Own Small Business
If you are thinking about starting your own business then consider signing up for the upcoming 3-night virtual SCORE workshop series “How to Start Your Own Business” featuring RVA’s small business attorney, Eric Perkins on July 28th. Speakers will cover such topics as: Choosing the legal structure that’s right for you Building a successful marketing […]
The Seven Characteristics of a 501(c)(6) Organization
A 501(c)(6) exempt organization is a nonprofit association of persons with a common business interest dedicated to the promotion of that common interest. Trade associations, business leagues, and chambers of commerce are three common types of tax-exempt organizations under Section 501(c)(6) of the Internal Revenue Code. Here are the seven distinguishing characteristics of a 501(c)(6) […]
July Nonprofit Spotlight: FRIENDS Association for Children
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for July 2022 is FRIENDS Association for Children. Perkins Law salutes FRIENDS Association for Children for its mission to help children and families in the metropolitan Richmond area achieve their potential and become productive citizens.
June Nonprofit Spotlight: Little Hands VA
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for June 2022 is Little Hands VA. Perkins Law salutes Little Hands VA for its mission to provide essentials and a little extra love to babies and families in need in the Greater Richmond region.
Have You Identified A Flywheel for Your Business?
The flywheel effect is based on a concept from Jim Collins’ classic “Good to Great.” Put simply, the gist is that your customers are your best salespeople. Therefore, if you can create or improve a product or service in such a way that your customers not only are impressed enough to purchase, but are excited […]
Showing Effective Leadership During Tough Times
A crisis—whether personal, local, or national in scope—offers an important opportunity for a small business owner to demonstrate his or her leadership to employees. The keys here are thoughtfulness, timeliness, and communication. Consider these tips when responding to a crisis situation: Timing is important. Generally speaking, the sooner you reach out, the better. Ultimately, however, […]
Form 990 Filing Deadline for Calendar-Year Based Exempt Organizations
For those exempt organizations operating on a calendar-year basis, don’t forget that your Form 990 for 2021 (whichever version you are required to file) is due by May 15th. Not to be a downer, but also keep in mind that if you neglect to file for three consecutive years, then the IRS will automatically revoke […]
May Nonprofit Spotlight: OAR of Richmond
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for May 2022 is OAR of Richmond. Perkins Law salutes OAR of Richmond for its mission to provide evidence-based and person-centered approaches to empower those impacted by incarceration to find individual success.
Looking for a Small Business or Nonprofit Attorney in Central Virginia?
If you have not heard about Perkins Law, PLLC in Glen Allen, VA, enjoy this quick introduction: https://youtu.be/J9_GeCrGBxM
Perkins Law Attends Bon Secours Memorial College of Nursing Scholarship Reception
I enjoyed a fun and informative Monday afternoon at CCV attending a reception hosted by the Bon Secours Memorial College of Nursing and the Bon Secours Richmond Health Care Foundation celebrating their nursing scholarship program that in recent years has raised and distributed over $4 million in scholarships to support nursing students. The Bon Secours […]
Perkins Law to Sponsor McDonald’s Mid-Atlantic Clay Court Championships at Salisbury Country Club
Perkins Law is excited to announce its sponsorship of the upcoming McDonald’s Mid-Atlantic Clay Court Championships taking place July 10-15, 2022 at Salisbury Country Club in Midlothian, VA. The event will feature a variety of college players, local pros, and coaches from all over the country. Click here for more information. Small business and nonprofit […]
April Nonprofit Spotlight: Groundwork RVA
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for April 2022 is Groundwork RVA. Perkins Law salutes Groundwork RVA for its mission to cultivate the next generation of urban conservationists in Richmond, Virginia. Check them out at www.groundworkrva.org
Perkins Law Signs on as Court Sponsor for 2022 Thalhimer Challenge at Westwood
Perkins Law is pleased to be a court sponsor for the upcoming Thalhimer Challenge, the largest tennis event of its kind in Virginia. This year’s event will take place September 23-25, 2022 at both The Westwood Club and Salisbury Country Club and will feature over 500 local players of all levels representing a dozen local […]
What is the Difference Between a Public Charity and a Private Foundation?
In the nonprofit community, the words “public charity” and “foundation” often are used interchangeably. However, there is an important legal distinction between the two types of tax-exempt organizations. For starters, it is helpful to understand that every 501(c)(3) tax-exempt organization is classified by the IRS as either a “public charity” or a “private foundation.” This […]
SCORE’s Workshop Series Presents – How to Start Your Own Small Business
If you are thinking about starting your own business then consider signing up for SCORE’s upcoming IN PERSON workshop “How to Start Your Own Business” featuring local experts, including RVA’s small business attorney Eric Perkins on April 29th. This workshop, at BizWorks in Chesterfield County, will include presentations by local professionals and subject matter experts […]
PERKINS LAW TO SPONSOR BON SECOURS MEMORIAL COLLEGE OF NURSING SCHOLARSHIP FOR SIXTH YEAR IN A ROW
Perkins Law, PLLC is excited to once again team up with Bon Secours Memorial College of Nursing to sponsor a nursing scholarship for the 2022-2023 academic year. It will provide tuition assistance for a deserving nursing student at the College. The Perkins Law team is grateful for the opportunity to play a small supporting role […]
March Nonprofit Spotlight: Richmond Friends of the Homeless
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for March 2022 is Richmond Friends of the Homeless. Perkins Law salutes Richmond Friends of the Homeless for for providing a nutritious lunch seven days a week in Richmond’s most impoverished neighborhoods.
A Few Lessons Entrepreneurs and Small Business Owners Can Learn from the iAnthus Debacle
Startup companies eager to accelerate their growth sometimes face tough options—and succumb to questionable decision-making–when it comes to raising capital, and iAnthus, one of early leaders in the booming legal cannabis industry, is the latest example of how quickly and dramatically things can go wrong when a company enters into a risky financing deal. Decision-making […]
February Nonprofit Spotlight: ART180
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for February 2022 is ART180. Perkins Law salutes ART180 for providing a space, free of judgment, that encourages creative self-expression while developing local young creators and promoting them through exhibitions, performances, public art, publications, and […]
SCORE’s Workshop Series Presents – How to Start Your Own Small Business
If you are thinking about starting your own business then consider signing up for the upcoming virtual SCORE workshop “How to Start Your Own Business” featuring RVA’s small business attorney, Eric Perkins on March 10th. Speakers will cover such topics as: Choosing the legal structure that’s right for you Building a successful marketing and sales […]
Nonprofit Conflicts of Interest – Endowment Committee
Question: If an individual serves on an Endowment Committee for a nonprofit organization that has started to invest significant sums in a for-profit privately held company in which the volunteer is a co-owner and executive employee, should the volunteer step down from the Endowment Committee? Answer: Conflicts of interest are not prohibited per se. A […]
December Nonprofit Spotlight: Live Red Foundation
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for December 2021 is Live Red Foundation. Perkins Law salutes Live Red Foundation for offering free fitness programs, which teach 8 core life skills, to youth in low-opportunity communities. Click here to learn more.
Perkins Named a Business Law “Legal Elite” by Virginia Business Magazine
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2021. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 20 different practice areas.
Professional Limited Liability Company v. Limited Liability Company
The limited liability company (“LLC”) has emerged as the entity of choice throughout the small business community over the past 25 years. However, for many professional service providers, Virginia offers another, yet confusingly similar, option: the professional limited liability company (“PLLC”). Because (i) the two types of entities are similar in many substantive respects, yet […]
Perkins Law Hosts Virtual Nonprofit Workshop: Ready to Start a Nonprofit?
RVA nonprofit attorney Eric Perkins will discuss key questions to answer before getting started, how to form a Virginia Nonstock Corporation with SCC and how to apply for recognition of tax exempt status. Attendees will also hear valuable insights and close with plenty of time to answer questions. Virtual workshop will be held on Thursday, […]
November Nonprofit Spotlight: ACTS
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for November 2021 is ACTS. Perkins Law salutes ACTS for its mission to provide funds, support, and other resources to neighbors in financial crisis, enabling them to live sustainable, self-sufficient and dignified lives. Click here […]
Tips for Winding Down a Small Business
I was saddened to recently to hear the news that the Innsbrook Foundation was dissolving, an unfortunate fate for an organization that had served the Innsbrook community so effectively for over 30 years, but an inevitable part of the life cycle of any nonprofit organization or business entity. The COVID-19 pandemic has been a catalyst […]
Pitch Virginia Coming to VCU’s Shift Retail Lab on November 10
The inaugural Pitch Virginia event, organized by Activation Capital, is scheduled for Wednesday, November 10 at the newly opened Shift Retail Lab at VCU, an initiative of the VCU da Vinci Center. The festivities will feature pitches from high growth, main street, and student-owned companies competing for $15,000 in prize money, concluding with the grand opening […]
Perkins Law Sponsors River City Open Collegiate Tennis Tournament
RVA Small Business and Nonprofit law firm Perkins Law, PLLC is excited to sponsor this weekend’s River City Open, the largest NCAA Division I men’s tennis event in the area. Organized by the River City Tennis Foundation, a local charity promoting tennis throughout the city, the tournament will feature players from some of the nation’s best […]
October Nonprofit Spotlight: Celebrate! RVA
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for October 2021 is Celebrate! RVA. Perkins Law salutes Celebrate! RVA for its mission to give children the chance to celebrate and enjoy their birthday in a safe and fun environment. they host birthday parties […]
SCORE’s Workshop Series Presents – How to Start Your Own Small Business
If you are thinking about starting your own business then consider signing up for the upcoming 3-night virtual SCORE workshop “How to Start Your Own Business” featuring RVA’s small business attorney, Eric Perkins on October 7th. Speakers will cover such topics as: Choosing the legal structure that’s right for you Building a successful marketing and […]
Upcoming Webinar on Developing a One-Page Business Plan for Small Biz Owners and Entrepreneurs
Richmond SCORE is conducting an upcoming webinar on Tuesday, October 26, 2021 from 6:30 to 8:30 pm for entrepreneurs and small business owners on an accelerated strategy for developing an abbreviated one-page business plan for your business. Click here for more details and to register.
What Small Business Owners Should Know About The New Virginia Consumer Data Protection Act
On March 2, 2021, Virginia became the second state to enact a comprehensive state privacy law when Governor Northam signed the Virginia Consumer Data Protection Act (the “CDPA”) into law. The CDPA creates consumer rights, similar to California’s Consumer Data Protection Act, but also imposes security and assessment requirements for businesses. While it will not […]
Quick Reminder About Minimum Wage Increases in Virginia
As amended by the General Assembly in 2020, the Virginia Minimum Wage Act (“VMWA”) creates a schedule of incremental increases to the minimum wage throughout the Commonwealth of Virginia. The first increase, effective May 1, 2021, raised the Virginia minimum wage to $9.50/hour. Under the VMWA, the minimum wage will increase each year until it reaches $15.00/hour […]
September Nonprofit Spotlight: Podium RVA
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for September 2021 is Podium. Perkins Law salutes Podium RVA for its mission to Empower youth ages 10 – 19 in greater Richmond to become confident, capable writers with the skills necessary to succeed in […]
Perkins Law Prospective Franchisee Zoom Workshop – September 9th
Ever considered franchising as a path to business ownership? If so, then careful planning and research are a must. Secure a seat for the Perkins Law Prospective Franchisee Workshop on September 9th led by small business and franchise attorney, Eric Perkins. Attendees will also hear valuable insights and close with plenty of time to answer […]
Perkins Named to “The Best Lawyers in America” List for 12th Year in a Row
RVA small business and franchise attorney Eric Perkins has been selected by peers in the legal community to be included in the 28th edition of The Best Lawyers in America for his work in franchise law for the 12th year in a row. With over 20 years of experience representing franchise systems and franchise owners, […]
The Corporate Transparency Act and its Effect on Small Businesses
On January 1, 2021, the Corporate Transparency Act (the “CTA”) was enacted as a part of the National Defense Authorization Act. As a result, certain U.S. business entities will soon be required to file a report with the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) to disclose identifying information of their beneficial owners. An […]
Perkins Law Nursing Scholarship Winner Announced
Congratulations to Hayli Wagner, recently announced as recipient of the Perkins Law Nursing Scholarship at the Bon Secours Memorial College of Nursing for the 2021-2022 school year! Following her mother’s footsteps into the health care field, Hayli’s goal upon graduation is to be a pediatric nurse. At a time of unprecedented risk, stress, and uncertainty […]
Perkins Law Signs on as Court Sponsor for 2021 Thalhimer Challenge at Westwood
Perkins Law is pleased to be a court sponsor for the upcoming Thalhimer Challenge, the largest tennis event of its kind in Virginia. This year’s event will take place September 24-26, 2021 at both The Westwood Club and Salisbury Country Club and will feature over 500 local players of all levels representing a dozen local […]
Real Stories of Bullying in Virginia
Bullying does not discriminate against age, race, gender, or location. It can happen anywhere, to anyone—and Virginia schools are no exception. Despite state laws and school policies designed to prevent bullying, incidents continue to occur with disturbing regularity. Here are four real stories of bullying in Virginia that received media attention: Warren, Virginia. In October […]
Perkins Law Hosts Virtual Nonprofit Workshop: Ready to Start a Nonprofit?
RVA nonprofit attorney Eric Perkins will discuss key questions to answer before getting started , how to form a Virginia Nonstock Corporation with SCC and how to apply for recognition of tax exempt status. Attendees will also hear valuable insights and close with plenty of time to answer questions. Click here to reserve your FREE spot today!
August Nonprofit Spotlight: ReEstablish Richmond
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area. The featured nonprofit for August 2021 is ReEstablish Richmond. Perkins Law salutes ReEstablish Richmond for connecting refugees and new immigrants to the resources needed to establish roots, build community, and become self-sufficient. To learn more about this organization and […]
Quick Intro to SBA 504 Loans
Virginia Community Capital recently hosted a recorded webinar, Supporting Small Businesses & Promoting Job Creation with SBA 504 Loans, featuring Zachary Petry and Chris Topping of 504 Capital. The presentation focused on what the SBA 504 loan program is and how it can be used. The SBA 504 loan program was created in 1958 to […]
The Different Forms of Bullying (and what to do about it)
When it comes to bullying, it is helpful to understand how the term is defined—not every mean, rude, or offensive act constitutes bullying (as a legal matter)—and that bullying comes in different forms. Misuse of the term diminishes the plight of victims and desensitizes the public to the magnitude and severity of the problem. Common […]
15 Troubling Statistics About Bullying in America
As another school year is about to begin, students and parents are busy gathering supplies, shopping for clothes, and filling out school forms. Unfortunately, there is another sad reality for many when it comes to preparing for a new school year: a discussion about bullying. While bullying can be a sensitive subject to discuss with […]
How to Build It Before You Need It: Your Personal Brand, Network, and Relationships
Many first-time entrepreneurs and small business owners sheepishly admit that they are bad at marketing. But marketing is involved in every facet of being a business owner—not only do you have to sell your product or service, but you also have to sell yourself to your clients. Today, the Community of Legal Innovators invited Itzik […]
Perkins Law Bullying Prevention & Resolution Package
If your child is experiencing bullying at school or online, let Perkins Law help your family navigate the process of finding a resolution as your advisor and advocate through a flat fee package of services.
Introduction to a New Flat Fee Service Package: Bullying Prevention & Resolution
School is intended to be a safe place focused on learning and development. However, thousands of students across the nation fall victim to bullying each and every day. Bullying is an epidemic that is linked with negative impacts on learning, health, behavior, and educational outcomes. Accordingly, in an effort to protect students, Virginia has formally […]
Building Trust and Rapport in Virtual Communication
While the world is slowly opening again, certain aspects of the COVID-19 pandemic era seem to be here to stay (at least for the foreseeable future). In our “new normal,” hybrid and virtual modes of work are transforming the workforce. And as we continue to learn about and use virtual platforms, it is even more […]
New Era Healthcare – David Napier
Great presentation by local entrepreneur David Napier of New Era Healthcare at today’s 1 Million Cups Zoom meeting. New Era Healthcare is a new business that plans to address gaps in traditional healthcare by providing healthcare on-site. Through flexible, mobile healthcare, New Era Healthcare will bring the doctor’s office directly to patients and ensure that […]
July Nonprofit Spotlight: Nolef Turns
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for July 2021 is Nolef Turns. Visit www.nolefturns.org to learn more.
Encorepreneur’s “Travel in a Post-Pandemic World”
The Perkins Law team ventured out to the Virginia Cliffe Inn for Encorepreneur’s first in-person event of the year, “Travel in a Post-Pandemic World”. Encorepreneur hosted three travel agents, Herb Farrar, Stacy Luks, and Betty Sedia, to highlight to changes that COVID-19 brought to their industry – hint: there have been many. Not surprisingly, the […]
25 Tips for Selling a Franchised Business
Selling a franchised business presents some unique issues not typically found in the sale of an independent small business. Rather than closing a deal between two parties, selling a franchised business involves three parties: (i) the selling franchisee, (ii) the buying franchisee, and (iii) the franchisor. The sale of a franchised business often triggers certain […]
Perkins Law Hosts Virtual Nonprofit Workshop: Ready to Start a Nonprofit?
RVA nonprofit attorney Eric Perkins will discuss key questions to answer before getting started , how to form a Virginia Nonstock Corporation with SCC and how to apply for recognition of tax exempt status. Attendees will also hear valuable insights and close with plenty of time to answer questions. Click here to reserve your FREE […]
Is Your Firm Client Centered?
The legal profession places great value on tradition. For example, the Virginia bar exam still includes age-old Latin terms. While some of these traditions foster a sense of deep community and respect, others tend to impede the profession’s evolution. In an age of artificial intelligence and accessible online documents, lawyers need to lean into change. […]
When Does a Private Business Loan Transaction Trigger Securities Laws?
What is a security? Many find it surprising to discover that there is no specific statutory definition of a “security” under federal or state securities law. The Securities and Exchange Commission (SEC)’s definition of a “security” includes a laundry list of approximately thirty items ranging from stocks and bonds to notes and investment contracts. In the […]
June Nonprofit Spotlight: NAMI
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for June 2021 is NAMI. Visit www.namicva.org to learn more.
Perkins Law Proud to Support the VMHC
There are so many wonderful nonprofit organizations throughout the Richmond area, and the Virginia Museum of History of Culture is certainly at or near the top of the list. Perkins Law is proud to be an associate member of the VMHC, and as we renew our membership for another year, we encourage you to check […]
Form 990 Filing Deadline for Calendar-Year Based Exempt Organizations
For those exempt organizations operating on a calendar-year basis, don’t forget that your Form 990 for 2020 (whichever version you are required to file) is due by May 17th. Not to be a downer, but also keep in mind that if you neglect to file for three consecutive years, then the IRS will automatically revoke your […]
Perkins Law To Host Business Entity Tips for Entrepreneurs and Small Business Owners Workshop
RVA small business attorney Eric Perkins will discuss business entity formations and compliance tips to help business owners reduce risk and enhance the value of their companies on June 3rd at 7pm. Attendees will also hear valuable insights and close with plenty of time to answer questions. Click here to reserve your FREE spot!
May Nonprofit Spotlight: UMFS
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for May 2021 is UMFS. Visit www.umfs.org to learn more.
Look Hoos Featured in the current edition of UVA Lawyer Magazine
As his 25th year law school reunion approaches, the editorial staff with the UVA Lawyer caught up with Eric Perkins as part of a feature article catching up with 5-year, 10-year, 15-year, and 25-year alumni. Check it out here!
Tax Benefit for Business Meal Expense Deduction Doubled for 2021-2022
Under current law, businesses may deduct 50% of the cost of business-related meals. The Consolidated Appropriations Act, 2021, (“CAA”) included a provision regarding the deductibility of business meal expenses to assist taxpayers impacted by COVID-19. The legislation adds an exception to the 50% limit for food or beverage expenses provided by a restaurant. Under the […]
Perkins Law Prospective Franchisee Zoom Workshop – May 6th
Ever considered franchising as a path to business ownership? If so, then careful planning and research are a must. Secure a seat for the Perkins Law Prospective Franchisee Workshop on May 6th led by small business and franchise attorney, Eric Perkins. Attendees will also hear valuable insights and close with plenty of time to answer […]
Get Your Tennis Rules Questions Answered at the “AD-Inbox”
As part of its effort to promote sportsmanship and greater awareness and understanding of tennis rules and regulations, the United States Tennis Association answers questions from the public each month through a new feature called “AD-Inbox” that appears in the USTA’s monthly e-newsletter “The Grip” and online at usta.com. Click here to read the latest […]
April Nonprofit Spotlight – Mercy Mall
Each month Perkins Law spotlights a local nonprofit doing inspiring work in the central Virginia area, and the featured nonprofit for April 2021 is Mercy Mall. Visit www.mercymallva.org to learn more.
Happy 12th Birthday Perkins Law!
Perkins Law turns 12 years old this April! Serving the RVA small business and nonprofit communities has been such a rewarding experience and would not have been possible without the vast (and always growing) network of inspiring and loyal clients, colleagues, and friends that have trusted us with their transaction and compliance needs. The Perkins […]
Perkins Law Hosts Virtual Nonprofit Workshop: Ready to Start a Nonprofit?
RVA nonprofit attorney Eric Perkins will discuss key questions to answer before getting started , how to form a Virginia Nonstock Corporation with SCC and how to apply for recognition of tax exempt status. Attendees will also hear valuable insights and close with plenty of time to answer questions. Click here to reserve your FREE […]
Best Practices for Engaging New Employees
Small business owners should never underestimate the value of loyal, talented, and hard-working employees, nor should they ever underestimate the tangible and intangible costs of employee turnover. I previously wrote about the steps small business owners should take when hiring their first employee. Once a new employment relationship has been created, focus must quickly shift […]
March Nonprofit Spotlight – Reinhart House
www.reinharthouse.org
Highlights of Virginia’s New Consumer Data Protection Act
Earlier this year, the Virginia House of Delegates and Senate passed the Virginia Consumer Data Protection Act (“CDPA”). While the CDPA is currently awaiting the Governor’s signature, Virginia will likely be the second state (behind California) to formally adopt a consumer-friendly data privacy law. The CDPA includes several noteworthy provisions, including: Applicability. As it stands, […]
Deadline to File S Corp. Election for 2021 is March 15
If you want your small business to be classified for income tax purposes as an S corporation for the 2021 tax year, you have until March 15, 2021, to make an election using IRS Form 2553. By electing S corp. status for your stock corporation or limited liability company (yes, you can be both an […]
SCORE’s Workshop Series Presents – How to Start Your Own Business
If you are thinking about starting your own business in 2021, then consider signing up for an upcoming virtual SCORE workshop “How to Start Your Own Business” featuring RVA’s small business attorney, Eric Perkins. Speakers will cover such topics as: • Choosing the legal structure that’s right for you • Building a successful marketing and […]
Garnishments on the Rise: What Small Business Owners Should Know About Garnishments in Virginia
Volatility throughout the small business community arising from the COVID-19 pandemic has led to an increase in debt collection efforts by creditors. One frequently used collection remedy is referred to as garnishment. What is a Garnishment? Garnishment is a legal process by which a creditor who is owed money from a debtor may require a third […]
Tax Reporting Tip for Self-Published Authors
For all the self-published authors throughout Virginia (and across the country), remember that royalties received as a result of creative work such as writing, music and art, is considered self-employment income and should be reported on Schedule C of your personal income tax return (i.e., book royalties are taxable income and should be reported, although […]
Perkins Law Prospective Franchisee Zoom Workshop – February 18th
Ever considered franchising as a path to business ownership? If so, then careful planning and research are a must. Secure a seat for the Perkins Law Prospective Franchisee Workshop on February 18th led by small business and franchise attorney, Eric Perkins. Attendees will also hear valuable insights and close with plenty of time to answer […]
February Nonprofit Spotlight – The Doorways
www.thedoorways.org
Five Nonprofit Board Governance Mistakes
Here are a few commonly observed mistakes made by nonprofit organizations when it comes to governance and compliance. If you serve on a nonprofit board, ask yourself whether your organization could use some help addressing any of these important issues. 1. Minimal Understanding of Fiduciary Duty Concepts. A person who volunteers to serve as a director or […]
Franchising as a Path to Business Ownership in 2021
If you are thinking about franchising as a path to business ownership in 2021, then consider signing up for an upcoming virtual SCORE workshop “Become Your Own Boss Through Franchise Ownership” with featured speaker Rich Salon on Wednesday, February 3, 2021 from 6:30 – 8:30 pm. For more details and to register, click here.
Perkins Law LLC Formation Express Package
Click here to view package details.
Great News for Startup Nonprofit Organizations: IRS Form 1023 Now Filed Electronically
The IRS made life a bit easier last year for new nonprofit organizations by requiring that all Form 1023 filings be made electronically through the online platform Pay.gov. The online Form 1203 application is substantially similar to the old paper version with the following changes: The online form is 40 pages including the schedules and […]
Choice of Entity Question for Professional Service Providers in Virginia: Professional Limited Liability Company v. Limited Liability Company
The limited liability company (“LLC”) has emerged as the entity of choice throughout the small business community over the past 25 years. However, for many professional service providers, Virginia offers another, yet confusingly similar, option: the professional limited liability company (“PLLC”). Because (i) the two types of entities are similar in many substantive respects, yet […]
Perkins Appointed as Chair of National Sportsmanship Task Force
RVA small business and nonprofit attorney Eric Perkins has been appointed to chair the United States Tennis Association’s Sportsmanship Task Force for the 2021-2022 term. The purpose of the Task Force is to: (i) collaborate with tennis industry partners to drive a culture of sportsmanship throughout the tennis community, (ii) establish a policy defining sportsmanship […]
Three Important Things to Know About the Second Round of Paycheck Protection Program Loan Funding
At the end of 2020, the Consolidated Appropriations Act, 2021 was passed to provide additional COVID-19 financial relief to the small business and nonprofit community, including a second round of Paycheck Protection Program (PPP) funding (PPP Second Draw Loans). By way of background, on March 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act […]
January Nonprofit Spotlight – The WAY
www.thewayrva.com
Five Great Sources of Franchising Information for the Prospective Franchisor
1. International Franchise Association. Arguably the premier membership organization of franchisors, franchisees, and suppliers to the franchise industry, this organization and its web site offer a wealth of information about all aspects of franchising. 2. Blue MauMau. The self-proclaimed #1 Franchise News Journal on the Web, this site provides a wealth of franchise industry news, […]
Perkins Named to “Super Lawyer” List of 2021
Henrico small business attorney Eric Perkins has been selected to the Virginia Super Lawyers List for 2021 in the Business/Corporate Law category. Only 5% of Virginia lawyers receive this distinction each year. The Top 50: 2021 Richmond Super Lawyers Top List will be available on May 6, 2021.
Perkins Named a Business Law “Legal Elite” by Virginia Business Magazine
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2020. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 18 different practice areas.
December Nonprofit Spotlight – Goochland Pet Lovers
www.goochlandpetlovers.com
#GivingTuesday 2020
“GivingTuesday was created in 2012 as a simple idea: a day that encourages people to do good. Over the past seven years, it has grown into a global movement that inspires hundreds of millions of people to give, collaborate, and celebrate generosity. Whether it’s making someone smile, helping a neighbor or stranger out, showing up […]
Selling a Franchised Business Requires Some Extra Work
Are you a franchise owner who has decided it is time to sell your franchised business? Before posting that “for sale” sign, there are a lot of preliminary issues to address before you can expect to attract a qualified buyer and successfully navigate to a closing date. Selling a franchise is a little different than […]
Perkins to Speak on Business Entity Tips at Upcoming SCORE Workshop
Click here to register.
Ready to “Move” Your Nonprofit to Virginia?
As a nonprofit organization evolves and its leadership team changes over time, moving the organization’s legal home from one state to another may be a relevant topic of consideration. In some cases, leadership may decide for one or more reasons to re-domesticate to another state. For example, compliance requirements in the organization’s original home state […]
Can Nonprofits Hold Virtual Board Meetings Under Virginia Law?
To say we will remember 2020 as an unusual time is quite an understatement. As the COVID-19 pandemic continues to disrupt our professional and personal lives as we know it, Virginia nonprofits are figuring out how to operate in this “new normal” of social distancing and stay-at-home orders. Accordingly, nonprofit leaders are faced with answering […]
UPDATE: REBUILD! VA GRANT FUND EXPANDED
The Rebuild VA Grant Fund is a program to help small businesses and nonprofits whose normal operations were disrupted by COVID-19, including restaurants, brick and mortar retail, exercise and fitness facilities, personal care and personal grooming services, entertainment and public amusement establishments, and campgrounds. Businesses with less than $10 million in gross revenue or fewer […]
Five Tips for Small Business Angel Investing
Putting all of your eggs in one basket is rarely a good idea. This is especially true when deciding where to invest your money. Over the past fifty years, an increasing number of investors have ventured into what are referred to as “angel investments.” Generally speaking, angel investors fund the early stages of a privately […]
November Nonprofit Spotlight
Morals Clauses in Contracts: What are They and What to Look for When Negotiating
Today’s competitive marketplace requires businesses to build and maintain a positive reputation and image. But, with the advent of social media, companies are forced under a magnifying glass of worldwide proportions. A company’s brand and reputation can suffer significant and immediate damage when a scandal erupts involving a high-level executive, a franchisee, or a professional […]
Perkins Law Salutes: Lori Jennings, Owner of Jennings PROSearch
Perkins Law Salutes: Lori Jennings, owner of Jennings PROSearch, recipient of the prestigious RVA Tech Chairman’s Award presented by the Richmond Technology Council at the organization’s recent 25th anniversary gala. The award is presented annually to an individual or organization that has made a significant impact in technology growth in the region and/or advocate of […]
SBA Announces Simpler PPP Forgiveness Process for Loans of $50,000 or Less
The U.S. Small Business Administration (SBA) released last week a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide helpful relief to the small business community. The PPP provided more than five million loans worth $525 billion to small businesses with […]
15 Steps to Winding Down a Virginia Small Business
The process of closing a Virginia small business can range from very simple and straightforward to extremely complex, expensive, and time consuming, depending upon the surrounding facts and circumstances of the business. Just reaching the decision to dissolve a small business can be a painstaking process. Tough questions to ask yourself include: How long have […]
New Central Virginia Regional Sales and Use Tax Now in Effect
The new 0.7% regional retail sales and use tax went into effect last week on October 1, 2020. This new tax applies throughout Central Virginia (including the city of Richmond, Charles City, Chesterfield, Goochland, Hanover (including the town of Ashland), Henrico, New Kent and Powhatan counties). The new tax brings the total sales tax to […]
How to Correct Mistakes on a Filed IRS Form SS-4 (EIN Application)
The Problem You are trying to successfully navigate the many challenges of small business ownership and one day you discover, much to your dismay, that incorrect information was inadvertently reported on Form SS-4 to the IRS (or perhaps the IRS made a mistake inputting the data at its end). How does this realization usually come […]
Questions to Answer Before Buying a Franchise
Do You Want to Franchise Your Business?
For companies launching a new franchise system, Perkins Law can provide cost-effective legal assistance: Preparing necessary documents for the offering and sale of franchises Drafting Franchise Disclosure Documents (FDDs), franchise agreements, and area developer agreements Managing regulatory compliance relating to the sale of franchises Navigating disclosure issues, marketing issues, and compliance with state registration laws […]
A Few Thoughts on Small Business Contracts
Small business owners negotiate on a daily—if not hourly—basis concerning a wide variety of matters. Most of these negotiations take place quickly and informally, but some business transactions and relationships are important enough to memorialize in writing through a written contract, so here are a few tips for small business owners to consider when it […]
September Nonprofit Spotlight
Perkins Law Recognizes National Franchise Appreciation Day
“The objective of F.A.D is to create awareness to increase customers knowledge of the importance of using social media networks and location-based services to connect with, and continue to support local franchises. Customers will receive discounts and giveaways to enjoy a day in support of their favorite franchises. Franchisers will show appreciation to the customers […]
Perkins Named to “The Best Lawyers in America” List for 11th Year in a Row
RVA small business and franchise attorney Eric Perkins has been selected by peers in the legal community to be included in the 27th edition of The Best Lawyers in America for his work in franchise law for the 11th year in a row. With over 20 years of experience representing franchise systems and franchise owners, […]
New Central Virginia Regional Sales and Use Tax Going into Effect October 1, 2020
A new .7% regional retail sales and use tax will be imposed in Central Virginia (including the city of Richmond, Charles City, Chesterfield, Goochland, Hanover (including the town of Ashland), Henrico, New Kent, and Powhatan counties. This new tax will bring the combined total sales tax to 6% (consisting of the 4.3% sales tax, the […]
EMERGENCY COVID-19 WORKPLACE REGULATIONS NOW IN EFFECT FOR VIRGINIA BUSINESSES
Last month, Virginia became the first state to approve binding regulations related to COVID-19 workplace safety. The regulations impose extensive requirements on Virginia businesses that have at least one employee (a term which itself is broadly defined), and these regulations are now in effect. Last month, Virginia became the first state to approve binding regulations […]
A Few Tips for Small Business Owners on Structuring Independent Contractor Relationships
Given the potentially disastrous consequences of misclassifying workers—especially considering recent developments under Virginia law that shift certain presumptions against business owners and create private rights of action relating to worker classification issues—every independent contractor relationship should be carefully analyzed, structured, and documented. I. Preliminary Due Diligence Before entering into the working relationship, the hiring company […]
REBUILD! VA GRANT FUND NOW AVAILABLE FOR VIRGINIA SMALL BIZ AND NONPROFITS
The Rebuild VA Grant Fund is a program to help small businesses and nonprofits whose normal operations have been disrupted by COVID-19, including restaurants, retail, exercise and fitness facilities, personal care and personal grooming services, entertainment and public amusement establishments, and campgrounds. Businesses and non-profits that are approved for a Rebuild VA grant may receive […]
#RVABizLaw Episode 21 – Three Tips for Maximizing Forgiveness Under Your PPP Loan
#RVABizLaw Episode 20 – Do Nonprofit Organizations in Virginia Need to Apply for Local Business Licenses?
#RVABizLaw Episode 19 – Three Clauses in Commercial Leases for Small Biz Tenants to Carefully Review
Does Your Nonprofit Have a Social Media Policy?
In honor of #NationalSocialMediaDay (June 30, 2020): It is safe to say we now live in the era of social media networking. If your nonprofit organization has not yet jumped on the bandwagon and started to take advantage of the many opportunities presented by social media networking, then it is time to wake up and […]
Growing Use of Virus-Related Waiver Forms in the Small Business Community – But Are They Legally Enforceable in Virginia?
With lowering restrictions and more people venturing outside of their homes across Virginia, small business owners in the process of reopening are wondering how they can protect themselves from COVID-19-related liability risk. In many cases, owners are requiring customers to sign a “virus waiver” as a risk management strategy. However, liability waivers for COVID-19 exposure, […]
2020 Update to “Richmond – One of America’s Best Tennis Towns”
This summer marks the 10-year anniversary of RVA finishing in the top 3 in the USTA’s national contest to determine “America’s Best Tennis Town”. To mark the occasion, the Richmond Tennis Association commissioned a 2020 update to its 2012 book chronicling over 100 years of Richmond tennis history, and here for the very first time […]
Updated PPP Loan Forgiveness Application Forms and Guidance
Earlier this month, President Trump signed the Paycheck Protection Flexibility Act. Then on June 17, the Small Business Administration (“SBA”) released a revised loan forgiveness application for the Paycheck Protection Program (“PPP”) and, in addition to the revised application, the SBA also released a new EZ application also applicable for forgiveness of PPP loans. Revised […]
Book Recommendation for First-Time Franchise Owners – Street Smart Franchising
A recommended book for anyone wanting a pragmatic crash course on franchising — Street Smart Franchising by Joe Mathews, Don DeBolt, and Deb Percival. This book offers excellent advice on all aspects of building a successful franchised business. The authors do a fantastic job identifying and addressing key concerns shared by many first-time franchise owners. […]
Book Recommendation for Small Biz Owners and Organizational Leaders – TouchPoints
Thanks to the Covid-19 pandemic and its resulting quarantine, Douglas Conant and Mette Norgaard’s book, TouchPoints, has taken on even more significance than it originally had when first published in 2011. During these unpredictable times, the manner in which people communicate has changed. Video conferencing has become the “new norm”, and many people are having […]
Should a Lawyer Review My Employment Agreement Before I Sign?
QUESTION: My boss just handed me an employment agreement and wants me to sign it ASAP, why spend the time and money to have a lawyer review it? ANSWER: Generally speaking, courts in Virginia will hold people to the contracts they voluntarily sign. Therefore, it is important that you understand the terms and conditions of […]
Perkins Law to Sponsor American Clay Court Nationals Tennis Event at The Greenbrier
Perkins Law is excited to announce its sponsorship of the upcoming American Clay Court Nationals taking place June 21-25, 2020 at The Greenbrier in White Sulphur Springs, WV. The week-long tournament marks the unofficial reopening of the American junior tennis circuit and is expected to attract the nation’s top juniors in the 18-under and 16-under […]
Quick Summary of the Paycheck Protection Program Flexibility Act of 2020
The ongoing response of the federal government to the COVID-19 crisis to protect the small business community continues to evolve. Last week the Paycheck Protection Program Flexibility Act of 2020 was signed into law. The Act significantly amends the Paycheck Protection Program (“PPP”) by giving small business owners that received PPP loans more freedom in how and […]
Time for a Small Business Compliance Check Up?
When was the last time you spent some quality time reviewing the legal and compliance condition of your business? You might be surprised by what you discover. Even if you discover a compliance issue or problem that had been overlooked, much better to identify and address it now in the regular course of business rather […]
SCORE Releases Small Business Reopening Checklist
As part of its ongoing efforts to educate and assist small business owners and entrepreneurs across America, SCORE has recently released a helpful checklist of tips and resources for small business owners as they implement their reopening strategies and adapt their business models to the new reality. Click here to download your copy.
RVA Nonprofit Spotlight June 2020 — Praespero Group
Common Questions Regarding Setting Your Salary as a Startup Business Owner
Once a startup business is formed and starts generating a profit, owners are faced with the decision of how to begin withdrawing money from the business. Owners that decide to start drawing a salary are faced with an often-controversial issue of determining how much to pay themselves. According to Payscale’s data collected from 2019, American […]
Thumbs Up to ForwardRVA for its Efforts to Help the Local Small Biz Community
A new program, ForwardRVA, has been organized by Chamber RVA and local business, government, and community leaders to provide resources to support local businesses in reopening and operating safely. Specifically, ForwardRVA is offering free Personal Protection Equipment (PPE) starter toolkits for any RVA small business with 25 or fewer employees that has remained open or […]
SBA PPP Loan Forgiveness Application Released
If you are one of the millions of fortunate small business owners who obtained a PPP loan in this massive $600+ billion program, it is now time to start getting your ducks in a row to apply for loan forgiveness with the recent SBA release of its template PPP Loan Forgiveness Application, a copy of […]
Employee or Independent Contractor?
The legal distinction between an employee and an independent contractor has confused and frustrated business owners, attorneys, and accountants for many years. The purpose of this article is to provide some guidance for business owners and explain why it is important to correctly classify workers. If you are a business owner, it is to your […]
New Guidance from Dept. of Treasury Offers Comfort to Small Business PPP Borrowers
As a follow up to a recent post about concern and confusion among many small business owners about whether they should consider returning their PPP loans this month, those concerns should largely disappear thanks to a newly published PPP FAQ on Department of Treasury website on May 13, 2020, which provides as follows: Question: How […]
Why is a General Partnership a Horrible Structure for Small Business Ownership?
If you are thinking about starting a new business with one or more business partners, you have a variety of choices in terms of selecting a legal structure for the business. A partnership is the simplest and perhaps the oldest type of business structure. In fact, it is so easy to create (e.g., there is […]
Advantages to a Written Employment Agreement
What are some advantages of using a written employment agreement with a key employee?
How Much Should a PPP Borrower Worry About SBA FAQ Question 31?
Small business owners across America have scrambled over the past month to obtain over $5 billion in PPP loans with the promise that such loans will be forgiven if proceeds are used to retain employees and cover certain types of business expenses defined by the CARES Act and subsequently released interpretive guidance. While the SBA […]
A Few Things Small Business Owners Should Know About PPP Loans
The Paycheck Protection Program (PPP) is a massive loan program designed to incentivize small businesses to retain staff during the COVID-19 pandemic. Aside from the immediate infusion of capital to help address short-term cash flow concerns, a primary feature of the program is that the Small Business Administration (SBA) will either partially or fully forgive […]
RVA Small Business Relief Fund to Start Accepting Applications on May 13, 2020
Thumbs up to ChamberRVA for its RVA Small Business Relief Fund, a new program intended to provide unrestricted grants to qualifying businesses in the Richmond Region impacted by COVID-19. The Fund is made possible through a partnership between ChamberRVA and Facebook, which contributed $250,000 to seed this first round of funding. The Fund is intended […]
Single-Member LLC can be a Good Choice of Business Entity
Most entrepreneurs and real estate developers/investors now acknowledge that the limited liability company (“LLC”) has become the entity of choice for many business and investment purposes. Offering the dual advantages of limited liability protection (like a corporation) and pass-through tax treatment (like a partnership), LLCs seem to combine the best attributes of both corporations and […]
Common Franchisor Registration Mistakes
Virginia is one of the fourteen states that require franchisors to successfully complete a formal registration and review process before they are permitted to legally offer franchises for sale. While the process is reasonably straightforward with detailed guidance available on the applicable requirements, forms, etc., there are a variety of mistakes made that cause delay […]
The New and Improved Regulation of Assumed Name Filings in Virginia
Effective January 1, 2020, the Clerk’s Office of the State Corporation Commission became the central filing office in Virginia for all certificates of assumed or fictitious name, effectively streamlining the previous two-step process into a one-step process. The initial step of filing a Certificate of Assumed Name with the circuit court clerk of the city […]
Tips on Conducting Contest and Sweepstakes Promotions
Contests and sweepstakes are popular marketing tools in today’s economy as businesses compete for market share and publicity. Unfortunately, many business owners fail to realize that a variety of federal and state laws regulate these activities, and violating these laws could lead to significant liability for the unsuspecting sponsor. For example, the contest must be […]
What is “ADR”?
QUESTION: What is “ADR” and should ADR language be included in my business contracts? ASNWER: The term “ADR” refers to alternative dispute resolution—methods of resolving disputes outside of court. In my experience, resorting to litigation is generally a horribly inefficient way of resolving problems. Litigation is expensive, time-consuming, and stressful. Business owners should never underestimate […]
Startup Financing from “Friends and Family”
Question: My family is giving me money to fund my business startup, do I need to put anything in writing? Answer: Startup financing from “friends and family” is very common, but usually handled very poorly. The more these transactions are handled and documented in a business-like fashion, the more likely both the business and personal […]
The 5 Stages of Buying or Selling a Business
Three Things to Know about Business Interruption Insurance Amid the COVID-19 Pandemic
1. What is it? Business interruption insurance is insurance to cover losses when your business is unable to operate for specified reasons beyond your control. In the context of commercial real estate, it is not unusual for landlords to obligate tenants to carry this insurance (landlords often carry their own business interruption coverage too). As […]
COVID-19 Alert for Nonprofits
Question: If a Virginia nonprofit organization suspends its operations for a few months in response to the COVID-19 pandemic, is it required to notify the IRS? Answer: No. The IRS has no special reporting requirements for organizations that go dormant (i.e., suspend their operations). There is a question on the annual IRS Form 990 about […]
A Few Questions and Answers About the New CARES Act Paycheck Protection Program
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) recently passed by the U.S. Senate and House and signed by the President creates a specific loan program through the Small Business Administration (“SBA”) to help small businesses retain employees and pay critical expenses during this unprecedented crisis. Under the “Paycheck Protection Program”, the SBA’s […]
CARES Act Relief Extends to Existing Small Business Administration (SBA) Loans
Question: I have an existing 7(a) SBA business loan. Am I eligible for any relief? Answer: Yes. Starting no later than 30 days after the date on which the first (next) payment is due, the SBA will pay all principal, interest, and fees on existing SBA loans for 6 months pursuant to 7(a), Community Advantage, […]
Unpleasant Surprise in Small Biz Acquisitions: The SBA Standby Agreement
An unpleasant surprise that sometimes pops up in the days leading up to closing in small business acquisitions involving SBA financing is the SBA Standby Agreement (also known as SBA Form 155). As a condition of loan approval, some SBA lenders require that the seller execute an SBA Standby Agreement with respect to any seller […]
COVID-19 Alert: Can Nonprofits Offer Aid to For-Profit Businesses?
The short answer is “YES”, a nonprofit organization is allowed to provide financial aid and other assistance (e.g., meals, PPE) to groups and organizations that are NOT 501(c)(3) exempt organizations so long as the assistance is provided and used for charitable purposes. For example, if your nonprofit desires to provide meals to emergency room and […]
COVID-19 ALERT: RMA Launches Retail Relief 2020
Thumbs up to the Retail Merchants Association for announcing a special program to benefit the RVA small business community. Branded as “Retail Relief 2020”, RMA is offering free membership to all local retail businesses for the next six months as part of this new initiative. A valuable resource at a crucial time. Click here to […]
What is an EIN Confirmation Letter and How Do I Get One?
Millions of small business owners are currently applying for loans in one of the new SBA emergency loan programs related to the COVID-19 crisis (e.g., EIDL and PPP loans). Apparently, one of the due diligence documents lenders are asking loan applicants to provide with their applications is a document referred to an “EIN Letter” or […]
Notifying the IRS of a Business Name Change
Every business has a name, and sometimes, for various reasons ranging from a rebranding campaign to a change in ownership, the name changes. If the business operates through a legal entity, such as a Virginia LLC, then an it changes its name by filing an amendment to the Articles of Organization with the State Corporation […]
Helpful Guidance for Employers Addressing Form I-9 Compliance Questions During COVID-19 Pandemic
The Department of Homeland Security (DHS) granted a temporary lifeline to employers struggling with I-9 compliance logistics while operating remotely. Believe it or not, while millions of small businesses are having to cut staff, there are employers in essential fields who are still hiring new workers. The question being asked by many owners is, with […]
Support Your Local Newspaper!
I’ve been an RTD subscriber since moving to Richmond in 1996, and while I did convert to a digital subscription last year, I continue to enjoy the RTD and appreciate its value to the RVA community. It appears they are currently running an attractive promotion featuring an introductory rate of $1/month for new digital subscribers. […]
Overview of the CARES Act: Titles I and II
The President signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 27, 2020. Title I of the CARES Act, the Keeping American Workers Paid and Employed Act, expands both the Small Business Administration’s (SBA) Section 7(a) loan program and its Section 7(b) economic injury disaster loan program (EIDL) to provide small […]
Update for Virginia Small Business Owners on SBA EIDL Loan Program
The Virginia Small Business Development Center (SBDC) Network has 27 local centers across the state. You can get free help from SBDC professional business advisors by clicking here. Please contact them directly to schedule a phone call or virtual meeting to get started as soon as possible. You can also find information and additional webinars […]
Tough Decision for Small Biz Owners – Do I Downsize My Staff Now or Wait?
As perhaps an unintended consequence of the emergency legislation passed by Congress last week, many small business owners might conclude that they need to rush formal termination notices to their employees before April 1, 2020. The Families First Coronavirus Response Act (“FFCRA”) creates an emergency sick leave benefit and also modifies the Family Medical Leave […]
A Few Resources for Small Business COVID-19 Relief
As we all brace for the full impact of COVID-19 to hit the United States and the economy, here are a few resources for small business owners to consider exploring: Small Business Administration Economic Injury Disaster Loan Program. The SBA has announced it will work directly with state Governors to provide targeted, low-interest loans to […]
One Million Cups Zoom Session: Coronavirus 2019 (COVID-19) Rapid Response on Wednesday, March 25 at 9:00 am
The Coronavirus Disease 2019 (COVID-19) has now affected all of us in numerous ways, from the interruptions to our daily routines, to fears of contagion; from our concern for the medical professionals on the front lines, to escalating our sanitation practices and social distancing. The CDC is responding to this pandemic of respiratory disease spreading […]
ALERT FOR VIRGINIA SMALL BUSINESS OWNERS
The Virginia SBDC network is hosting a webinar TODAY (Monday, March 23) from 2:00-2:45 pm for their partners to review the application process for SBA Economic Injury Disaster Loans (EIDL) available for Virginia small businesses and nonprofits. Click here to attend the Webinar Meeting ID: 606 202 441 Phone – 646 558 8656 Virginia SBDC […]
A Few Tips for Small Biz Owners on COVID-19 and Staff Telecommuting
Well the first quarter has certainly taken an unexpected turn for the entire planet, hasn’t it? A dangerous, stressful, and disruptive time for everyone. Public health and safety rightfully takes top priority; therefore, my first suggestion for small business owners in responding to this public health crisis is very simple: abide by the directives and […]
What is Regulation D and how does it Benefit Small Business?
Regulation D is a series of transactional, safe harbor exemptions from the registration requirements under the Securities Act of 1933. Generally speaking, when a business owner wants to raise capital from passive investors, the offer and sale of a security will often be involved. Both federal and state law regulate the offer and sale of […]
Having Trouble Navigating the New SCC Online Filing System?
As recently reported in local media, the State Corporation Commission rolled out a new online filing system (known as the Clerk’s Information System or “CIS”) to replace the former efile system in December 2019. Suffice to say, it has not been a smooth transition for many small business owners and professionals throughout Virginia. Small business […]
Force Majeure Discussion
A significant portion of the world is in the midst of a COVID-19 health crisis. While public safety and health are rightfully the top priorities, there are many questions swirling around the impact this public health crisis will have on the business and nonprofit communities. One major concern relates to contractual obligations and business transactions—will […]
Have You Visited RVABizLaw.com Recently?
If you haven’t checked out the RVABizLaw blog recently, here are a few of the updates you’ve missed: Are franchise agreements automatically and unconditionally renewable? What is Phantom Equity? How can small biz owners minimize liability risk when disciplining employees? How nonprofits sometimes accidentally convert volunteers into employees. Visit RVABizLaw for regular updates, tips, and […]
The Difference Between “Issued and Outstanding” versus “Fully Diluted” Shares
The distinction between “issued and outstanding” shares of a corporation as compared to “fully diluted” shares is important when analyzing ownership percentages and the way proceeds would be distributed if the corporation were acquired by a third party. Ownership can be calculated in the following two different ways. Issued and Outstanding Shares When a corporation […]
The Big Three from Let Go to Grow
I recently read a great book for small business owners and entrepreneurs called Let Go to Grow, written by local business/management consultants Doug and Polly White. The book was first published in 2011, so my apologies for being a little tardy, but the many helpful pearls of wisdom in this book are timeless. You can […]
Are Franchisees Guaranteed the Right to Renew their Franchise Agreement?
No, there is no such guarantee. Most Franchise Agreements do, however, provide for at least one renewal option, subject to laundry list of conditions (payment of a renewal fee, execution of the then-current form of Franchise Agreement, execution of a general release in favor of the franchisor, among others). This represents yet another reason why […]
SCORE Richmond’s Business After Hours
Thumbs up to Richmond’s SCORE for another great networking event last week at Capital Ale House. Always fun to catch up with local entrepreneurs and small business owners and hear about the latest SCORE workshops & mentoring opportunities. Valuable business community asset!
Are Gifts Earmarked for Specific Individuals Tax-Deductible?
Q: A neighbor’s house recently burned to the ground and I started a GoFundMe page to raise funds to help the family cover living expenses and replace some of their belongings destroyed in the fire. Are the contributions tax-deductible charitable gifts? A: While certainly an altruistic gesture, donations to help the family recover are not […]
#RVABizLaw: The Big Three
Last Friday’s RMA Friday Forum breakfast at The Westin was as festive and informative as always, featuring Snagajob’s Kristi McKissick and Christy Conner sharing insights from the company’s recent annual survey of hourly workers. The “Big 3” takeaways for me were: 1. The largest age group of hourly workers is actually Gen X, and while […]
A Quick Primer on Phantom Equity for Small Business
Incentivizing and retaining key employees should be a priority for small business owners. Many owners are understandably reluctant to give away equity, thereby turning a key employee into a business partner, but there are many attractive alternatives to consider. A phantom equity plan, for example, provides a key employee a financial award that is tied […]
Renewing Your Local Business License for 2020
Have you renewed your local business license for 2020? Don’t procrastinate and risk missing the renewal deadline (March 1st for Henrico County, Chesterfield County, and City of Richmond). Penalties, interest, and believe it or not, criminal penalties can apply if you don’t renew in a timely fashion. Perkins Law offers a flat fee service package […]
Contract Drafting Tip
When drafting business contracts, try to avoid using “and/or” at all costs. There are at least six different ways of construing a contract clause featuring “and/or,” so you are not doing yourself (or a judge trying to interpret your contract) any favors by including such an ambiguous term. If the applicable provision includes two alternatives […]
How Small Business Owners Can Minimize Risk of Litigation When Disciplining Employees
Business owners make dozens of business decisions all day, every day. In some cases, these decisions involve how to address an employee’s poor performance, misconduct, or a violation of company policy. Disciplining employees is the least enjoyable aspect of being a business owner for many people, but consistently enforcing company policies and quickly addressing problems […]
Fun Evening with The Goochland Chamber of Commerce
Perkins Law was proud to be a sponsor of the Goochland Chamber’s annual social event hosted by Drive Shack. Enjoyed a festive evening with nearly 75 other area small business owners and professionals. Thumbs up to the Chamber of Commerce team and Drive Shack staff for their hospitality!
A Few Marketing Myths for Small Biz Owners to Understand
I had a great time at the most recent Friday Forum organized by the Retail Merchants Association. The featured speaker was Brand Federation’s Kelly O’Keefe and he focused his remarks on common marketing myths and mistakes. While his examples came from recognizable brands and large public companies, the concepts apply to businesses of all shapes […]
So Who is Your Registered Agent?
So who is your registered agent? Every business entity formed in Virginia is required to have a registered agent. While the registered agent is really just a ministerial function (i.e., an official point of contact for a Virginia LLC or corporation who receives correspondence from the SCC and other state agencies and service of process […]
Anti-Harassment Policy a Must for Any Small Business
A cultural shift of tectonic proportions seems to be emerging right before our very eyes, and many would agree such an awakening is long overdue. The issue is sexual harassment and, in some egregious circumstances, sexual assault. Every business with employees, no matter how small or large, should absolutely have a clear and concise anti-harassment […]
Be Careful Not to Convert Your Nonprofit Volunteers into Employees
Nonprofit organizations often struggle recruiting and retaining volunteers, and they try valiantly to come up with creative ways to recognize and reward those individuals who generously contribute their time and talent to the organization. Nonprofits need to be careful that they do not inadvertently create employment relationships or trigger taxable events in this context. Let’s […]
Drafting Your Final Press Release
It is a morbid thought, but have you ever read an obituary and wondered what yours will look like? Well, why not be proactive by either drafting your own obituary (I prefer the term “final press release”) or jotting down a few notes as to what you would like to see included. Click here for […]
SEC Proposes New Changes to Accredited Investor Definition
The U.S. Securities and Exchange Commission (SEC) recently proposed new rules to expand and clarify the definition of “accredited investor” under the U.S. Securities Act of 1933. Among other things, the rules would open private capital markets to a potentially wider group of individuals and entities, making Regulation D private offerings available to more people […]
What Laws Regulate Franchising?
Franchising is regulated by both federal and state law, and these laws are on the books primarily to protect franchisees. At the federal level, the FTC Franchise Rule imposes disclosure requirements that apply to the offer and sale of franchises. At the state level, Virginia law imposes registration and relationship laws. Before being allowed to […]
Does an LLC Pay Income Taxes?
In most cases, no, at least not directly. One of the advantages of LLCs is a concept called pass-through taxation. This means the LLC itself does not pay federal income tax, its owners do. Income, profits, deductions and losses “pass through” the LLC and get reported on the owners’ respective tax returns. The default rules […]
What is an Assumed Name Filing?
This is also known as a “d/b/a” or “doing business as” filing. If you plan to do business under a trade name that is different than the legal name of your business entity, then you are required to file a Certificate of Assumed Name with the clerk of the circuit court in the city or […]
Pros and Cons of a Small Business Owner Staying Involved with Business Post Closing
What are some pros and cons of having a small business owner continue to stay involved with the business as an employee or agent of the buyer in some capacity post closing? From a buyer’s perspective, it can be beneficial to negotiate an employment or consulting agreement with the seller to ensure his or her […]
Fundraising and Timing Issues for Newly Formed Nonprofit Organizations
Startup nonprofits often face a tough fundraising challenge during their first year or two of existence. The organization desperately wants to begin operations in pursuit of its charitable mission before they receive formal approval of their tax-exempt status but they have legitimate questions and concerns about funding until they receive that all-important IRS determination letter […]
A Quick Intro to the Registered Agent Requirement for Virginia Nonstock Corporations
Virginia nonprofit corporations are required to designate a registered agent. The purpose of a registered agent is to provide an actual, physical point of contact and mailing address (i.e., a street address as opposed to a P.O. Box) where an organization can be contacted or served with notice of a lawsuit or other legal action. […]
Perkins Named a Business Law “Legal Elite” by Virginia Business Magazine
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2019. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 18 different practice areas.
Common Mistakes Small Business Owners Make When They Take the DIY Approach
Ever hear someone say, “it is much more expensive to clean up a mess than to do it right the first time around”? Well, it is usually true. Every so often a new client reaches out for help after they have tried to set up a new business entity on their own through one of […]
Figuring Out Which Licenses Apply to Your Business
It is not surprising that a restaurant selling alcohol needs a liquor license or that a construction company needs a contractor’s license before it can start building houses or office buildings. But many business owners in different industries often fail to realize they need to have a particular license before they can legally open for […]
Richmond Tennis Hall of Fame Induction
Very honored to have been inducted into the Richmond Tennis Hall of Fame as a part of the class of 2019 this past Saturday night. Such a blessing to have discovered my life’s passion when I was eight years old. Still many more tennis adventures to enjoy on and off the court!
Five Reasons Why Local Craft Brewers Should Love Regulation D
The RVA craft brewery scene has been quite prolific in recent years with no immediate signs of slowing down. As these startups mature into emerging growth companies (or simply look to maintain their market share in an increasingly competitive marketplace), raising capital becomes a major topic of strategic planning and discussion. The good news is […]
Fifteen Things To Do When You Decide to Hire Your First Employee
Your efforts as a “solopreneur” are paying off and you are looking to hire your first employee to help manage the growth of your business. While not an exhaustive treatise on all conceivable laws and regulations that govern the employment relationship, here are fifteen tips to help you navigate through the hiring process. 1. Set […]
Changes Proposed to Virginia Franchise Rules — Public Comment Period Now Open
The Virginia Division of Securities and Retail Franchising (“Division”) has recommended to the Virginia State Corporation Commission (“Commission”) that certain revisions to the Virginia Franchise Rules (“Rules”) be considered for adoption effective January 3, 2020. The proposed change to the Rules adopts the new Franchise Disclosure Document cover sheets and state effective dates page as […]
Be Careful About Signing Personal Guarantees
Smart entrepreneurs conduct business through separate business entities such as LLCs or corporations in order to enjoy limited liability protection (personally) from debts and obligations of the business. However, the reality of small business ownership is that, as an owner, you likely will be required to sign personal guarantees for many of your company’s most […]
Virginia LLC vs S Corp? How About BOTH!
A commonly asked question by entrepreneurs and prospective small business owners during initial brainstorming sessions is “Should I go with an LLC or an S corp.?” Well, for many Virginia small businesses, the optimal answer is BOTH. You can own and operate your business through a Virginia limited liability company AND file an election to […]
A Few Good Things to Know About Section 501(c)(6) Organizations
What is a 501(c)(6) Organization? Section 501(c)(6) of the Internal Revenue Code (the “Code”) offers tax-exempt status to trade associations, business leagues, chambers of commerce, real estate boards, boards of trade, and professional football leagues, among other similar types of organizations. These organizations are not organized for profit and no part of their net earnings […]
Should a Dormant Nonprofit Organization Deactivate the “Donate” Button on its Website?
For an inactive nonprofit organization that is not engaged in any formal activities or fundraising efforts, there is no reason to have a functioning “Donate” or “Donate Here” button on its website as it only creates risk (albeit not significant risk) and potential problems (i.e., what would the organization do, for example, if it received […]
Watch Out for Fads When Exploring Franchise Opportunities
Selecting a franchise opportunity can be the most important business decision of your life. On top of that, at any given point, there are over 3,000 franchise opportunities being offered for sale (although only about half that amount are registered and available for sale in the Commonwealth of Virginia). There are many issues to consider […]
Is There a Time Limit for Distributing Funds Raised for a Specific Cause?
Several times each year our 501(c)(3) organization raises funds for a specific cause (or other charity) through a special event or a raffle. Once the event takes place, how long do we have to submit the funds to the designated charity? There is no specific deadline, but funds should be distributed within a reasonable time. What […]
Every Small Business is a “Family Business”
Every small business is a “family business” regardless of how legal ownership is structured or whether or not family members are actively involved in the business. An entrepreneur ignores this bit of reality at his or her peril.
Donations to Individuals and Families: Generous, Yes, Tax-Deductible, No
People often ask about making donations to support individuals or families victimized by a tragedy, medical emergency, or natural disaster, and are surprised to learn that gifts earmarked for specific individuals are not tax deductible as charitable contributions. The basic rule set forth under the Internal Revenue Code and confirmed by court decisions is that […]
Five Nonprofit Board Governance Mistakes
Here are a few commonly observed mistakes made by nonprofit organizations when it comes to governance and compliance. If you serve on a nonprofit board, ask yourself whether your organization could use some help addressing any of these important issues. 1. Minimal Understanding of Fiduciary Duty Concepts. A person who volunteers to serve as a director […]
A Quick Introduction to Insurance for the Virginia Small Business Owner
A Quick Introduction to Insurance for the Virginia Small Business Owner
A Few Quick Thoughts on Using Seller Financing to Sell a Small Business
Seller financing is a common strategy in small business acquisitions to get deals done that otherwise would not be possible. Simply put, seller financing is a loan made by the seller of a business to the buyer to cover all, or a portion, of the total purchase price for the business. Seller financing offers both […]
2019 – 2020 Bon Secours Memorial College of Nursing Scholarship Winner Announced
Thank you to the Bon Secours Richmond Health Care Foundation and the Bon Secours Memorial College of Nursing for hosting the annual luncheon last week at CCV allowing nursing scholarship sponsors and recipients to meet for the first time and learn more about what has attracted these talented, dedicated, and hard-working individuals to the nursing […]
Say Goodbye to the “Tax Matters Partner” and Hello to the “Partnership Representative”
There have been a series of changes over the past year in the Treasury Regulations that likely impact your old LLC Operating Agreement. One change is that there is no longer a “tax matters partner” (also referred to as a tax matters member) which you will see in most operating agreements (at least for multi-member […]
Can a Nonprofit Organization Include Paid Staff as Voting Members of the Board of Directors?
Virginia law does not prohibit employees from serving on the board of directors of the nonprofit organization for which they work. But while it may be legal, it is relatively unusual for charities to have paid staff on the board on not considered a best practice from a governance perspective. The concerns relate to the […]
Insurance for the Virginia Small Business Owner
Managing risk is a critical part of owning a small business. Entrepreneurs manage risk every day in a variety of ways. Insurance is a key component of any risk management strategy, and small business owners should seek assistance from experienced insurance professionals during the early stages of starting a business. Effective risk management not only […]
Perkins Law Signs on as Sponsor of Jazz Nativity to Benefit Feed My Starving Children
Richmond small business law firm Perkins Law, PLLC is pleased to announce its sponsorship of the 2019 Jazz Nativity hosted by Gayton Baptist Church. The show brought together close to 3,000 people in 2018 and is expected to have record attendance in 2019. With the proceeds from Jazz Nativity, Gayton Church has packed a total […]
A Few Tips for Small Business Startups in Virginia
Embarking on life as an entrepreneur? Enjoy the ride, you are in for a memorable experience! For small business owners, there is never a shortage of important issues to consider, risks to manage, ideas to explore, concepts to learn, and details to address. Legal and compliance issues are hopefully at or very near the top […]
Five Tips for Small Business Succession Planning
Three Things for Virginia Business Owners to Know About Paid Time Off (PTO) Policies
1. PTO is NOT legally required. Neither federal nor state law requires an employer to provide its employees with vacation days or other form of paid time off. Interesting to note that employers aren’t legally required to even provide paid time off for lunch or breaks during the work day (expect for employees under the […]
Tips for Maximizing the Franchise “Discovery Day” Experience
For a prospective franchisee, “discovery day” is often the critical moment when the ultimate decision is made to enter into a franchise relationship. Both franchisor and prospect evaluate each other during a full day (sometimes longer) of meetings, interviews, meet-and-greets, office tours, and other activities. Most franchise systems conduct discovery day events in a very […]
Did You Know?
Successful business ideas can come from anywhere. Many popular, widely-used products have very unusual origins. Take the treadmill for example. This standard feature of any modern fitness center is actually based on a torture device used in prisons in the 19th century and affectionately referred to as the “everlasting staircase”. According to an article by […]
A Social Media Self-Assessment for Professionals
There is no question that building your brand online requires commitment and time, but it can be done at reasonable expense (and with minimal technical expertise), and the potential benefits from a marketing and business development perspective are enormous. Click here to view a list of questions designed to serve as an informal self-assessment of your […]
Steps a Business Owner Should Take When a Key Employee Jumps Ship for a Competitor
Having key employees sign written Noncompete Agreements does little to protect an business owner unless the owner is prepared to take action to enforce the company’s rights. Employers should treat departing employees with noncompetes in a consistent way by (i) reminding them of their continuing obligations upon termination, (ii) promptly sending “cease and desist” letters […]
Tip for Virginia Small Business Owners on the Right Time to Hire a Business Attorney
Many entrepreneurs and small business owners will spend hours scouring the Internet searching for answers to the litany of legal questions that arise on a weekly—if not daily—basis in the course of running a business. The desire to avoid legal fees is understandable. Sometimes legal issues are in fact relatively straightforward and can be answered […]
Do You Need to Qualify Your “Foreign” Business Entity in Virginia?
You own and operate a North Carolina LLC and are ready to expand your business into the Commonwealth of Virginia. Maybe you are a general contractor based in Maryland and just won a contract for a long-term project in Virginia. In terms of business entity compliance, an LLC or corporation formed outside of Virginia is […]
Can a Nonprofit Founder Deduct Startup Expenses?
Can the organizers of a newly formed 501(c)(3) exempt organization take a tax deduction for personally paying the organization’s expenses during its first year in operation? Yes. A donor may claim a deduction for contributions made “to or for the use of” a charitable organization. The organization should acknowledge the payments and confirm in writing […]
Five Tips for Small Business Succession Planning
For most small business owners, the idea of even considering a succession plan pops to mind only when tragedy strikes or the owner starts giving serious thought to retiring or otherwise getting out of the business. However, succession plans have much better outcomes when owners plan for them in advance. Here are five issues to […]
Perkins Named to “The Best Lawyers in America” List for 10th Year in a Row
RVA small business and franchise attorney Eric Perkins has been selected by peers in the legal community to be included in the 26th edition of The Best Lawyers in America for his work in franchise law for the 10th year in a row. With over 20 years of experience representing franchise systems and franchise owners, […]
Perkins Law Signs on as Sponsor of River City Open Collegiate Tennis Tournament
RVA Small Business and Nonprofit law firm Perkins Law, PLLC is excited to announce its new sponsorship of the River City Open, the largest NCAA Division I men’s tennis event in the area. Organized by the River City Tennis Foundation, a local charity promoting tennis throughout the city, the tournament will feature players from some […]
Lease Assignment Issues in Small Business Acquisitions
When negotiating the acquisition of a small business, one of the most important issues to address during the due diligence process is confirming whether the current business owner owns or leases its business office or retail location. When the business operates from a leased location, the potential buyer and seller necessarily must negotiate with the […]
May nonprofits sell ad space in a charity event program to political candidates?
A 501(c)(3) exempt organization risks losing its exempt status it “participates” in a political campaign. The IRS has said that it is not a participation in a political campaign if a candidate rents space or facilities from a charity that is available to the general public and the candidate gets no favorable rate. It would […]
Two Ways to Structure a Business Sale: Selling Assets vs. Selling Equity
Small business acquisitions and sales are monumental transactions for the average entrepreneur. The process will be filled with dozens of important decisions, discussions, documents, and logistics. Some deals are negotiated and closed within a month, while others can drag on for a year or more. One of the early decisions to make is how the […]
Join us on August 8, 2019 at the Richmond SCORE First Step Workshop for Entrepreneurs and Prospective Business Owners
Richmond SCORE’s First Step Workshop for Entrepreneurs and Prospective Business Owners is coming up this Thursday, August 8, 2019 from 8:30 am – 4:00 pm. RVA small business attorney Eric Perkins will discuss business entity formations and compliance tips to help business owners reduce risk and enhance the value of their companies. Attendees will also […]
Where Are They Now? Featuring Alexandra Smyth
What is the Difference Between a Public Charity and a Private Foundation?
One preliminary issue to address when forming a nonprofit organization—and a common source of confusion—is whether the new organization will be a public charity or a private foundation. In my experience, most nonprofit organizers are looking to create public charities, not private foundations. Only when dealing a wealthy individual, family, or large company does the […]
Where Are They Now? Featuring Katie Marschalko
Where Are They Now? Featuring Nina Sorkin
Pop Quiz for Nonprofit Board Members
While millions of civic-minded, passionate individuals volunteer their valuable time and talent each year to serve on nonprofit boards, the pertinent question not asked often enough is “How engaged is our board of directors?” If you are currently serve on a nonprofit board of directors, take this simple quiz to assess how engaged you are […]
A Five-Minute Primer on Registration Rights for Small Business Startups and Investors
The offer and sale of securities is regulated by both federal and state law. At the federal level, securities can only be offered or sold pursuant with a registration statement filed with the Securities and Exchange Commission (“SEC”), or in accordance with an applicable exemption from the registration requirements. When small business startups raise capital […]
Thinking About Starting a Nonprofit Organization?
If you have ever considered starting a nonprofit organization, the process can be intimidating given the complicated terminology, legal, tax, compliance, governance, fundraising, and other issues that need to be addressed throughout the life of the organization. Click here for a short outline highlighting some of the fundamentals of forming a nonprofit organization in Virginia. Perkins […]
Short Pump Rotary Assigns New Officers for 2019-2020
Short Pump Rotary installed new officers for 2019-2020 yesterday at Capital Ale House. (pictured are Eric Perkins, Secretary, Micky Ogburn, President, and District 7600 Area Governor Sarah Perkins).
Compliance Tips for Virginia Business Startups: Director and Officer Responsibilities
Responsibility for the day-to-day management of a Virginia corporation resides with the corporation’s directors and officers. The Virginia Stock Corporation Act offers more flexibility than most people realize, however, to structure the management and governance of a Virginia corporation. In effect, this is an attempt to keep the corporate statute “competitive” with the flexibility afforded […]
Perkins Law Sponsors Goochland Chamber Community Night 2019
The Perkins Law team invites you and your family to enjoy a fun evening of Flying Squirrels baseball. As a sponsor, we have a generous allotment of tickets to share with our clients, friends, and colleagues (on a first come first serve basis) and invite you to join us! Please click here to reserve tickets […]
What is a Registered Agent?
Virginia law requires any LLC or corporation formed in Virginia (or any out-of-state business entity conducting business in Virginia) to designate a registered agent in its formation documents. The role of registered agent is ministerial, akin to an official mailbox or point of contact for a business entity. SCC notices and related correspondence from government […]
Employee Use of Company Resources
Small business owners should have written policies concerning employees’ use of company computers, emails, and telephones. Federal and state law give employers quite a bit of flexibility when it comes to monitoring employee emails and phone calls while at work. Best practice is to have a written policy describing and employer’s expectations, requirements, and authority […]
A Few Tips on Starting a Food Truck Business
A vibrant food truck community has emerged in RVA over the past decade. Seemingly every local event is anchored by a growing variety of independently owned mobile food operators. Why have food trucks become so popular amongst food service entrepreneurs? For starters, the typical cost of starting a food truck is dramatically lower than a […]
History Made in RVA on June 22, 2019 – Welcoming the New Arthur Ashe Boulevard
I have called Richmond, Virginia home since 1996 when I moved here after graduating from law school to start work as a lawyer. While my family and I have very much enjoyed all aspects of life in RVA over the years, never have I felt more civic pride and sense of community than this past […]
Perkins Talks Business Entity Tips for Entrepreneurs and Small Business Owners at SCORE First Step Workshop
Eric will discuss the importance of doing business through a separate business entity, why LLCs have become the entity of choice for the small business community, business succession planning strategies, and ways to reduce the risk of getting embroiled in costly litigation over business disputes on Thursday, August 8th during his portion of the SCORE […]
The Importance of Responsible Contract Drafting and Review for the Small Business Owner
Business attorneys often hear some version of the following confession from their clients, “Oh I just used a contract template that I found online.” Statements like this evoke mixed emotions because (i) there is no such thing as “one size fits all” in the world of business contracts–each business transaction or relationship has its own […]
A Quick Intro to Virginia LLCs
Most entrepreneurs realize that when starting a new small business, the smart approach is form a business entity through which to conduct the business. While Virginia offers a number of different options, the limited liability company has emerged over the past 25 years as the most popular choice of entity in the small business community…and […]
#RVABizLaw Tip of the Day: A Brief History of Franchising
The word “franchise” comes from a medieval French term “francis” which meant to grant rights or privileges to peasants. In the Middle Ages, a local lord would give others the right to hunt, hold markets and fairs, or engage in other activities on his land. These were the earliest franchise relationships and gradually evolved through […]
Looking for a Legal Expert for Your Next Event?
Consider Eric Perkins with Perkins Law, PLLC!
Tax-Exempt vs. Nonprofit in Virginia
Most people use the terms “nonprofit” and “tax-exempt” interchangeably. Legally speaking, however, the terms have different meanings. The term “nonprofit” generally refers to provisions of state law that authorize the formation of nonprofit or nonstock corporations. In this context, the term “nonprofit” indicates a specific organizational structure recognized under state law. The term “tax-exempt” relates […]
Using Form 1023-EZ to Apply for 501(c)(3) Exempt Status
Question: I know there is a relatively new and simplified Form 1023, called Form 1023-EZ, to use in applying to the IRS for 501(c)(3) exempt status. It requires assets less than $250,000, and forecasted revenue less than $50,000 for the current year and the next two. What happens if an organization files Form 1023-EZ, gets […]
Quorum Requirements in Nonprofit Bylaws
Question: Our nonprofit board frequently struggles with questions about quorum requirements in our Bylaws and what is required by law, can you help us understand what the law requires? Answer: The good news is that nonprofit organizations have a lot of freedom in setting their own quorum requirements. The Virginia Nonstock Corporation Act allows the […]
Legal Support Services for Virginia Nonprofits
#RVABizLaw Tip of the Day: Small Business Startup Guide to Virginia Tax Registration
One of the early formation tasks for a small business start up in Virginia (typically after forming a new business entity with the State Corporation Commission and applying for a federal EIN from the IRS) is to apply online with the Virginia Department of Taxation. Here are answers to a few commonly asked questions about […]
Did You Know? A Lesson for Small Business Owners
Did You Know? Once upon a time, retail shoe stores would use x-ray machines to help their customers purchase the “best fitting” shoes. The lesson for small business owners? The health and safety of your customers should always be a top priority, and when it comes to innovative marketing strategies and business practices, sometimes it […]
Tips on Navigating the Employee Termination Process for Small Biz Owners
For most entrepreneurs, terminating an employee is one of the least enjoyable aspects of business ownership. Employment termination decisions typically arise on an individual, case-by-case basis. Here are a few suggestions for ending the employment relationship in an efficient manner (and in a way that should reduce your risk of liability).
Social Entrepreneur Networking Event Coming Up on Tuesday, May 14 at 5:30 pm
Come network with fellow social entrepreneurs and chat about B Corps at Impact Makers in Scott’s Addition on Tuesday, May 14 at 5:30pm – 7:30pm. To register, click here!
Different Ways of Winding Down a Virginia LLC or Corporation
The process of dissolving and terminating a Virginia limited liability company or corporation (each generically referred to in this article as an “entity”) can be a simple process, or it can be a time-consuming and complex process depending upon the surrounding facts and circumstances. When a business owner desires to close an entity, he or […]
Tales from the Trenches
Working daily with small business owners and entrepreneurs (aside from being a small business owner myself) gives one a special look inside the ups and downs of small business ownership. In recent conversations with clients and colleagues, two specific challenges were discussed that, unfortunately, are all-too-common. In one case, an owner of a steadily growing […]
SCORE Business Pitch Contest Finals on April 30
I am excited to again be a judge and sponsor for Richmond SCORE’s 4th annual business pitch contest, featuring some of the area’s top small business entrepreneurs competing for a $5,000 top prize. Click here to see who made the final round. The finals are open to the public, so come out and support the […]
RVABizLaw Tip of the Day: A Few Good Things to Know About the Virginia Benefit Corporation
Virginia was among the first handful of states to embrace the social entrepreneurship movement by passing a law in 2011 creating a special form of business entity—the benefit corporation. Here are a few good things to know about the Virginia benefit corporation: 1. What is a benefit corporation and how is it different from a […]
A Few Highlights of the Perkins Law Flat Fee FDD Review Package
For a prospective franchise owner, a franchise agreement is arguably one of the most significant contracts you will ever sign. Careful due diligence is highly recommended. RVA small business and franchise attorney Eric Perkins has been reviewing Franchise Disclosure Documents for over 20 years, helping clients understand the terms, features, risks, and ramifications of the […]
#RVABizLaw Tip of the Day: VA New Hire
Does the sole owner/employee of an S Corp. in Virginia need to register with the Virginia New Hire Reporting Center? This might surprise some of you, but the answer is yes. For more specifics, visit their website.
Perkins Law signs on as a Sponsor of Goochland Chamber of Commerce’s Community Night at the Diamond
We are excited to renew our sponsorship for one of the premier events on the Goochland Chamber’s annual calendar—Community Night at the Diamond. This year’s event will take place on July 18, 2019 and not only feature Flying Squirrels baseball, but also fireworks after the game!. Last year’s event was a ton of fun, so […]
Perkins Law Turns 10!
Perkins Law makes the Generosity, Inc. List of RVA’s Most Philanthropic Companies
Richmond BizSense publishes an annual list of the area’s most philanthropic companies, and Perkins Law was honored to make the list at #39. “Community service represents one of our core values,” notes Eric Perkins, who founded the firm in 2009, “as a small business, our capacity to contribute is modest compared to corporate giants like Altria, […]
Looking for a Legal Expert for Your Next Conference, Workshop, or Event?
Looking for a legal expert for your next conference, workshop, or event? Eric Perkins is a business and nonprofit attorney in Richmond, Virginia with over 20 years of experience working with small business owners, entrepreneurs, executives, and nonprofit leaders on a wide variety of transactional and compliance matters. He has authored or co-authored three books […]
Fun Workshop on Tennis Rules and Sportsmanship
Special thanks to Raintree Swim & Racquet Club (Eddie and Stacey Parker, Brian Fleishman, and Catherine DeSouza) for inviting me to speak at today’s luncheon about tennis rules and sportsmanship. A festive group of nearly three dozen league players peppered me with questions about tennis rules, league regulations, and general topics of tennis etiquette and […]
Your Virginia LLC Terminated by Accident? No Cause for Alarm, Perkins Law Can Help
It happens more frequently than you think–the Virginia State Corporation Commission terminates the existence of an LLC for failure to pay its $50 annual fee. In theory, having the existence of your LLC terminated, if not corrected in a timely fashion, could have serious legal consequences. The termination could constitute an event of default under […]
Tennis Rules Education Workshop – March 19th
March 19 – Tennis Rules Education Workshop – Eric Perkins will be talking about the latest trends in tennis rules and sportsmanship at Raintree Swim & Racquet Club at 12pm. For more information email Eric at [email protected].
Perkins to Receive 20-Year Service Award at USTA Annual Meeting
Richmond small business and nonprofit attorney Eric Perkins will be recognized for 20 years of national volunteer service at the USTA’s annual awards luncheon on March 24, 2019 in Austin, Texas. Perkins’ involvement as a USTA volunteer has included multiple terms as chair of the Tennis Rules and Regulations Committee and as a member of […]
#RVABizLaw Tip of the Day: Can the Organization President do That Without Board Approval?
Our nonprofit organization is mired in controversy with a bitterly divided board of directors that argues regularly over a variety of strategic and financial issues. The latest board dispute relates to access to the organization’s operating account. Can the president of the organization change the signatories on the bank accounts without board approval? It depends. […]
#RVABizLaw Tip of the Day: Minimizing the Impact of Risk for Small Business Owners
Just a reminder that as a small business owner/entrepreneur, you are identifying, assessing, and managing risk 24/7. You can never eliminate it, but you can reduce it and minimize the impact of a risk if it materializes. There are always risks out there that you couldn’t be expected to predict or prevent. For restaurant and […]
4th Annual SCOREcard Business Pitch Competition
A great kick-off event last night at host C & F Bank in Midlothian for the 4th annual SCOREcard Business Pitch Competition as we got to meet many of the contestants and hear their “elevator pitches” for the first time. Finals will take place downtown at Activation Capital on April 30. I’m excited to be […]
#RVABizLaw Tip of the Day: Donations to 501(c)(3) from Donors Outside of VA
We are a local 501(c)(3) charity and would like to put a place for donations on our website. Can we receive donations from donors outside of Virginia? Yes, but…. many nonprofits have configured their websites so that they can collect online contributions and some have been wildly successful in obtaining contributions from other states and […]
#RVABizLaw Tip of the Day: Insurance for the Virginia Small Business Owner
Managing risk is a critical part of owning a small business. Entrepreneurs manage risk every day in a variety of ways. Insurance is a key component of any risk management strategy, and small business owners should seek assistance from experienced insurance professionals during the early stages of starting a business. Effective risk management not only […]
#RVABizLaw Tip of the Day: Purchase Price Allocation in Small Business Acquisitions
For various reasons (to be discussed in another blog post), most small business acquisitions are structured as a purchase of assets (as opposed to the purchase of corporate stock or LLC membership interests) because buyers typically prefer it that way. One of the many items to negotiated between seller and buyer is how the purchase […]
Welcoming First Watch franchise to Short Pump!
Always fun to welcome new franchise concepts to the area, and the newest one to hold a grand opening in the Short Pump is First Watch – The Daytime Cafe. According to its website, First Watch is the largest and fastest growing daytime-only (i.e., no dinner/evening hours) restaurant concept in the U.S. with 250+ locations scattered […]
Perkins Appointed to National Sportsmanship Task Force
United States Tennis Association President Patrick Galbraith has appointed Eric Perkins to serve a two-year term on the USTA Sportsmanship Task Force, whose mission is to advise, assist, work and collaborate with USTA staff and volunteers and across the tennis industry to drive a culture of sportsmanship throughout the tennis community, as well as promoting […]
#RVABizLaw Tip of the Day: A Few Thoughts About Square Footage Issues in Commercial Lease Transactions
A few thoughts about square footage issues in commercial lease transactions explained here. Consider the five bullets below! 1. Size matters, right? 2. Measuring Square Footage. 3. Tenant Protection Tips. 4. Measuring Standards. 5. Take Aways.
RVABizLaw Tip of the Day: Commonly Asked Questions About VA Small Business Startups
21 commonly asked questions about Virginia small business startups answered here. Perkins Law is pleased to offer flat fee packages for Virginia LLC and corporate formations.
#RVABizLaw Tip of the Day: Recommended Book for Small Business Owners
Recommended book for small business owners—Built to Sell by John Warrilow. Understanding the process of preparing your small business for sale, how to maximize the marketability of your business, and then navigating a successful sale of your business are critically important steps for any small business owner. Since going the “IPO” route is not an […]
#RVABizLaw Tip of the Day: Three Simple Tips to Maximize Limited Liability Protection through your Virginia LLC
Three Simple Tips to Maximize Limited Liability Protection through your Virginia LLC: (i) Pay your annual fee to the SCC on time every year; (ii) pay attention to signature blocks when signing business contracts on behalf of your LLC; (iii) maintain a separate bank account in the LLC’s name. Obviously this is not all a […]
#RVABizLaw Tip of the Day: A Dilemma Every Multi-Owner Startup Business Faces
A dilemma facing every startup business with more than one owner—how to divide up initial ownership equity? Bottom line is that there’s no simple answer. Every situation should be addressed on its own facts and circumstances, but here are five factors that co-founders should consider when dividing up initial ownership: Who has already contributed cash […]
Perkins’ Tennis Rules Education Workshop Coming to Raintree Swim & Racquet Club!!
Eric Perkins will be leading an interactive workshop on tennis rules and etiquette on March 19, 2019 at Raintree Swim & Racquet Club. Why is it important to know the rules? Where can you find them online? What are some of the most misunderstood rules in tennis? How are you supposed to resolve scoring disputes? […]
#RVABizLaw Tip of the Day: Three Ways for an “S” Corp. Owner to Take Money Out of the Company
Three Ways for an “S” Corp. Owner to Take Money Out of the Company: (i) salary for services rendered; (ii) dividends; and (iii) loans. Setting a “reasonable salary” for yourself that will withstand IRS scrutiny depends on a variety of facts and circumstances and is something you should discuss with your accountant. Don’t get greedy […]
#RVABizLaw Tip of the Day: Be Careful About Signing Personal Guarantees
Smart entrepreneurs conduct business through separate business entities such as LLCs or corporations in order to enjoy limited liability protection (personally) from debts and obligations of the business. However, the reality of small business ownership is that, as an owner, you likely will be required to sign personal guarantees for many of your company’s most […]
#RVABizLaw Tip of the Day: Does Your Small Business Have a Social Media Policy?
Does Your Small Business Have a Social Media Policy? This type of policy—offering guidance to your employees on what your expectations and requirements are concerning social media communications and related activity that affect your business–can benefit and protect your business in a variety of ways. If your company’s employee handbook or policy manual does not […]
It is Not too Early to Start Preparing Your Form 990!!
For nonprofits that operate on a fiscal year ending December 31st, it is not too early to start thinking about IRS Form 990-whichever version the organization needs to file. For a quick refresher on the key details on Form 990-N and 990-EZ, click here.
#RVABizLaw Tip of the Day: Take Advantage of the Business Travel Deduction
Are you taking full advantage of the business travel deduction? As a small business owner, you are entitled to a tax deduction for gas and auto expenses when using a car for business purposes. You can do this one of two ways: (i) deduct the actual cost of your gas and other expenses, or (ii) […]
#RVABizLaw Tip of the Day: Renewing Your Business License for 2019
Have you renewed your local business license for 2019? Don’t procrastinate and risk missing the renewal deadline (March 1 for Henrico County, Chesterfield County, and City of Richmond). Penalties, interest, and believe it or not, criminal penalties can apply if you don’t renew in a timely fashion. Perkins Law offers a flat fee service package […]
Virginia LLC vs S Corp? How About BOTH!
A commonly asked question by entrepreneurs and prospective small business owners during initial brainstorming sessions is “Should I go with an LLC or an S corp.?” Well, for many Virginia small businesses, the optimal answer is BOTH. You can own and operate your business through a Virginia limited liability company AND file an election to […]
First RTA/Perkins Law Ball Kid Training Academy a Hit!
Proudly introducing the first graduating class of the. Over an hour of sprinting, ball tossing, rolling, and throwing along with a crash course in tennis rules. Thanks to Hermitage Country Club for hosting. Diplomas and official RTA Ball Kid t-shirts were well-earned by today’s participants. Be on the lookout for another training session coming to […]
Perkins Speaks Business Entity Tips for Entrepreneurs and Small Business Owners at Goochland Chamber Lunch Gathering
Enjoyed a great panel discussion with two former colleagues (Stephen Faraci and Scott Golightly) earlier today at the monthly Goochland Chamber lunch gathering. We talked about the importance of doing business through a separate business entity, why LLCs have become the entity of choice for the small business community, business succession planning strategies, and ways to […]
#RVABizLaw Tip of the Day: Can my nonprofit offer financial incentives as a recruiting tool?
Our nonprofit struggles to recruit and retain volunteers to help with our community events and activities, can we offer financial incentives or other “perks” as a recruiting tool? Reimbursing reasonable out-of-pocket expenses for volunteers is permitted, but if an organization gives anything of value in exchange for volunteer service (items of de minimis value excepted), […]
Perkins Named a Business Law “Legal Elite” by Virginia Business Magazine
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2018. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 18 different practice areas. In 2018, 1,062 […]
What Can Members of a Nonprofit Organization Do When the Board of Directors Violates the Bylaws?
The board of a nonprofit organization presided over a membership meeting and announced that a quorum was present at the members meeting, knowing that no quorum existed, and then let the results of the ensuing vote on a controversial issue stand. What can be done to challenge this? ANSWER: In theory, an aggrieved member could […]
Is There a Time Limit for Distributing Funds Raised for a Specific Cause?
Several times each year our 501(c)(3) organization raises funds for a specific cause (or other charity) through a special event or a raffle. Once the event takes place, how long do we have to submit the funds to the designated charity? There is no specific deadline, but funds should be distributed within a reasonable time. What […]
Perkins Law Named Among “Best Law Firms” for 2019
Richmond small business and franchise law firm Perkins Law, PLLC has been recognized by U.S. News & World Report in its “Best Law Firms” rankings for 2019. “Best Law Firms” chooses lawyers based on client and peer reviews, as well as professional excellence.
Virginia Franchise Forum 11th Anniversary Celebration
Registration now open for the Virginia Franchise Forum 11th Anniversary Celebration! Join the VFF for an evening of franchising updates, education, and networking as it marks its 11th anniversary. Industry leader FRANdata returns to present its annual year-end franchising review and forecast for 2019. State Corporation Commission Division of Securities and Retail Franchising officials will […]
2018-2019 Perkins Law Scholarship for Bon Secours Memorial College of Nursing
Congratulations to Tricia Riggan, recipient of the 2018-2019 Perkins Law Scholarship at the Bon Secours Memorial College of Nursing. College leaders, sponsors, and scholarship recipients enjoyed a recognition luncheon on Monday at CCV. It was inspiring to hear about the great work being done in the classroom and throughout the region by such a passionate and […]
Great Events for RVA Small Biz and Franchise Community Coming Soon!!
November looks to be an exciting month for RVA entrepreneurs and small business owners. First, the Virginia Franchise Forum returns for its 11th annual year-end event featuring FRANdata’s annual review and 2019 franchising forecast. A panel discussion will feature local franchise owners sharing their experiences (the good, the bad, the ugly) as franchise owners. So […]
Perkins Law Signs on as Sponsor of Jazz Nativity to Benefit Feed My Starving Children
Richmond small business law firm Perkins Law, PLLC is pleased to announce its sponsorship of the 2018 Jazz Nativity hosted by Gayton Baptist Church. The show brought together more than 2,500 people in 2017 and is expected to have record attendance in 2018. Proceeds raised through ticket sales support Feed My Starving Children. FMSC is […]
#RVABizLaw Tip of the Day: Preparing Your Business for Sale by Communicating with Your Employees—Timing is Everything
Openly communicating with your employees about the sale of your business is a critically important and monumentally difficult task. When, where, and how should you have this talk with your team? Spilling this information too early could cause anxiety as employees could worry about their future and job security. They might talk and, before you […]
Perkins named to Best Lawyers in America list for Franchise Law
RVA small business and franchise attorney Eric Perkins has been selected by peers in the legal community to be included in the 25th edition of The Best Lawyers in America for his work in franchise law for the ninth year in a row. With over 20 years of experience representing franchise systems and franchise owners, Eric continues to […]
Discussion Topics for LLC Owners
Going into business with one or more other people offers many potential benefits and risks. You hope for success, but need to plan for the worst. A carefully drafted agreement among a group of business partners is important to memorialize owner expectations and understandings concerning a variety of important topics. Click here for a short list […]
#RVABizLaw Tip of the Day: Be Careful Not to Convert Your Nonprofit Volunteers into Employees
Our nonprofit struggles to recruit and retain volunteers to help with our community events and activities, can we offer financial incentives or other “perks” as a recruiting tool? Reimbursing reasonable out-of-pocket expenses for volunteers is permitted, but if an organization gives anything of value in exchange for volunteer service (items of de minimis value excepted), […]
RTA/Perkins Law Tennis Community Scholarship 2018: Winners Announced!
Congratulations to the winners of the 2018 RTA/Perkins Law Tennis Community Scholarship: Kathleen Marschalko from Cosby High School and Alexandra Smyth from Freeman High School. Impressive student athletes! To view their video submissions expressing what tennis means to them and why Richmond is a great tennis town, click the links below. Kathleen Marschalko Alexandra Smyth There’s always […]
Trace RX, Inc. Wins 2018 SCOREcard Business Pitch Competition
Congratulations to TraceRx, Inc. and its founder Matthew Rosen on winning the 2018 SCOREcard Business Pitch contest and $5,000 top prize. Trace RX is focused on providing tracking and traceability solutions to organizations that provide international relief and aid around the world to reduce losses due to negligence, theft, or destruction. Sauber Cleaning Solutions, which […]
Community Service a Great Part of Small Business Ownership
Having the flexibility and freedom of contributing your time, talent, and resources to charitable causes you find worthwhile is one of the best things about owning your own business. Over the course of the past month, I have had a great time volunteering for some impressive nonprofits in the area—Shalom Farms, Virginia Center for Inclusive […]
#RVABizLaw Tip of the Day: Dispute Resolution Clauses Can Save Money and Preserve Business Relationships
Even with the comfort that an important business transaction or relationship has been carefully memorialized through a written agreement, contract disputes can arise for a variety of reasons. When they do, the parties need to quickly make some important decisions. In the small business world, litigation is often a regrettable choice as a dispute resolution […]
#RVABizLaw Tip of the Day: Communicating with Employees When Selling Your Business
An often overlooked issue in small business acquisitions is when and how to let employees about the transaction. Two things are clear—every situation is different and timing is important. Sharing this information too early could cause intense anxiety as employees worry about job security and hurt their performance. A key employee could resign, thus jeopardizing […]
Perkins Law Celebrates National Small Business Week!
The Perkins Law Team salutes small business owners and entrepreneurs — the driving force in our economy today. According to the Small Business Administration, there are nearly 30 million small businesses in the United States employing 47.8% of all U.S. workers. Microbusinesses (companies with less than 10 employees) account for more than 75% of all […]
#RVABizLaw Tip of the Day: Using a Letter of Intent to Jumpstart a Small Business Acquisition Deal
Buying or selling a small business is a process. Before investing the time and expense of drafting a full-blown acquisition agreement, parties will often prepare a preliminary document, typically referred to as a letter of intent (also referred to as an “LOI”), outlining the key terms and conditions of the deal. The value of an […]
Perkins Law Ranked #33 on Richmond BizSense’s annual Generosity Inc. list
Henrico County small business, franchising, and nonprofit law firm Perkins Law, PLLC moved up to #33 on this year’s Generosity Inc. list of RVA companies active in local philanthropy and community service. “Community service represents one of our core values,” notes Eric Perkins, who founded the firm in 2009, “as a small business, our capacity […]
Perkins to Headline Center for Nonprofit Excellence on May 18
Richmond small business and nonprofit attorney Eric Perkins will be presenting “Great Beginnings and Graceful Endings–Tips for Navigating the Employee Hiring and Termination Process” at the Center for Nonprofit Excellence in Charlottesville, VA on May 18, 2018. Every employment relationship has a beginning and a conclusion. Both are critically important to an organization because there […]
RVA Nonprofit Spotlight: An Afternoon at Shalom Farms
April 16,2018 — I enjoyed a fun afternoon at Shalom Farms with my fellow Short Pump Rotarians picking carrots and protecting fields of onions and garlic. Shalom Farms is a nonprofit organization based in Powhatan County just off of Route 288. Formed in 2008, Shalom Farms strives to “work with communities to ensure access to […]
Tips on Boosting the Value of Your Small Business
Free Download on Organizational Basics for Virginia Nonprofits
There are many misconceptions about forming a Virginia nonprofit organization: (i) it is a quick process, (ii) nonprofit fundraising is easy, (iii) one or two people can handle everything, and (iv) founders can profit from the growth and success of the organization. Here is a short outline summarizing some of the basics of starting a […]
2018 SCOREcard Business Pitch Competition Underway
Nearly two dozen RVA small business startups are competing for a $5,000 top prize and bragging rights in the local business community. C&F Bank hosted a reception on Wednesday night for the contestants, sponsors, judges, and SCORE mentors. A wide variety of businesses are represented in this year’s competition, ranging from fitness to party planning […]
Now that’s a Happy Customer!
To succeed as a small business owner, you have to develop a base of happy and loyal customers who appreciate the product or service you provide and, even better, are willing to brag about your business to others. Here’s a great example of a small business (Woofy Wellness Ranch in Richmond, VA) that is growing […]
#RVABizLaw Tip of the Day: A Few Thoughts on Seeking Outside Capital for Startup Businesses
In order to scale your business, expand to new markets, or other take take your business to the “next level”, it inevitably becomes necessary to seek capital investment from outside investors. Here are a few preliminary tips to keep in mind before you do it: 1. Don’t jump the gun. You need more than an […]
Perkins Law Turns 9!
Whoa! Time flies. Perkins Law, PLLC was born on April 2, 2009. The past nine years have been an incredible adventure, and we look forward to serving the RVA small business, franchising, and nonprofit communities for many years to come. Thank you to the loyal clients (from every conceivable industry) for whom we have the […]
#RVABizLaw Tip of the Day: Two Provisions of the Tax Cuts and Jobs Act of 2017 that are Party Poopers for Small Business Owners
Regardless of your political affiliation or your opinions on tax policy, there are at least two provisions of the controversial Tax Cuts and Jobs Act passed by Congress at the end of last year that are detrimental to small business owners….I will certainly miss them. First, deductions for entertainment expenses are now disallowed (as of […]
#RVABizLaw Tip of the Day: Watch Out for Fads When Exploring Franchise Opportunities
Selecting a franchise opportunity can be the most important business decision of your life. On top of that, at any given point, there are over 3,000 franchise opportunities being offered for sale (although only about half that amount are registered and available for sale in the Commonwealth of Virginia). There are many issues to consider […]
#RVABizLaw Tip of the Day: Small Business Support for Local Nonprofits is a WIN-WIN Proposition
Small business owners should incorporate charitable giving and community service into their business plans each and every year. For one thing, it is the right thing to do and makes your community a better place in which to live, work, and play. Community service is a tremendous opportunity for building greater rapport with your staff, […]
#RVABizLaw Tip of the Day: Solopreneurs Should Consider a TOD provision in their LLC Operating Agreements
Even single-owner LLCs should have a written Operating Agreement. Even though it should be relatively short (5-6 pages at the most in most situations), a written Operating Agreement is useful to: (i) memorialize the ownership and management structure of the LLC (e.g., confirming the title you choose to use when signing contracts, printing business cards, […]
#RVABizLaw Tip of the Day: Take Advantage of Free Business Mentoring Resources
It does not matter whether you are a fledging entrepreneur thinking about starting your first business or an experienced business owner with a staff of 50, having a business mentor or executive coach (they use different titles) can be incredibly valuable. RVA entrepreneurs are fortunate to have an extensive choice of experienced coaches and mentors […]
Junior Achievement of Central Virginia Seeking RVA Entrepreneurs for JA Launch Program
One of the crown jewels of the RVA nonprofit community, Junior Achievement of Central Virginia, is seeking Richmond area entrepreneurs to share their unique experience with high school students by participating in the one-hour JA Launch Lesson. Entrepreneurs will visit one class, for one hour, and share with the students what it means to be […]
#RVABizLaw Tip of the Day: Getting Free Copies of Franchise Disclosure Documents
Ever thought of investing in a franchised business? Thousands of franchise systems representing virtually every conceivable type of business are actively searching for qualified franchisees 24/7. How does one learn more about franchise opportunities and what they have to offer? A few hours of online research will yield a wealth of information, and a great […]
Perkins Law Second Annual Bon Secours Memorial College of Nursing Scholarship
Perkins Law, PLLC is excited to once again team up with Bon Secours Memorial College of Nursing for the second annual Perkins Law Scholarship for the 2018-2019 academic year. It will provide tuition assistance for a deserving nursing student at the College. Thanks to the overwhelming support by the RVA community, BSMCON is able to award […]
Fundraising Compliance Tips for Youth Sports Booster Clubs
While the legal concepts are pretty simple and straightforward, there always seems to be a lot of confusion and noncompliance when it comes to youth sports and school-related booster clubs and their fundraising efforts. Here is a short article that attempts to clear up some common mistakes and misconceptions.
Starting a new business?
Take a look at this quick introduction to Virginia LLCs. The LLC has become a popular choice of entity in the Virginia small business community. Reach out anytime for more details (including the Perkins Law flat fee package for Virginia LLC formations)
Shulman-Bernstine Win the Perkins Law Winner-Take-All Challenge
Over 200 tennis fans enjoyed a fun evening of great food and tennis at Salisbury Country Club’s 10th Annual Friday Night Lights tennis extravaganza on February 23, 2018. Willow Oaks Country Club Teaching Pro Eric Shulman, recently inducted into the Christopher Newport University Hall of Fame, and Goochland High School senior Ryan Bernstine, won a […]
Warren Whitney Leadership Network
Exciting announcement at yesterday’s Warren Whitney Leadership Network from StartUp Virginia co-founder and Executive Director Bryan Bostic on today’s grand opening of RVA’s newest startup incubator and collaborative workspace “1717 Innovation Center”. This world-class facility promises to be the nucleus of the RVA startup ecosystem for many years to come. Thumbs up to Capital One […]
March Breakfast Meeting Hosted by Henrico Business Leaders
This promises to be an exciting event for any entrepreneur or small business owner as Richmond Raceway President Dennis Bickmeier will be discussing how the Raceway has innovated and re-imagined itself to retain its status as the crown jewel of the RVA sports & entertainment community! Click here for more information!
Richmond SCORE Announces SCOREcard 2018 Pitch Competition
Reminder to Henrico County Business Owners – Business License Renewal Deadline is March 1st
Just a friendly reminder to my fellow Henrico County business owners that your county business license renewals are due by March 1, so don’t procrastinate any longer. Late fees will apply if you are tardy and, even worse, technically it is a criminal offense to conduct business in Henrico County without a valid business license. […]
Who Will Win the Perkins Law $500 Winner-Take-All Challenge Match?
For the 4th year in a row, RVA small business and franchising law firm Perkins Law, PLLC is sponsoring the main event match at Salisbury Country Club’s Friday Night Lights tennis extravaganza. Cesar Grobel and Brett Moorhead will battle Eric Shulman and Ryan Bernstine for a $500 winner-take-all prize. A crowd of over 300 tennis […]
Previous Winners of RTA Tennis Community Scholarship Presented by Perkins Law, PLLC
Recognizing that tennis offers a pathway to a healthy and fulfilling life, the Richmond Tennis Association and Perkins Law, PLLC are proud to offer a $1,000 college scholarship to the male and female graduating senior who best (and most creatively) exemplifies all the great things tennis has to offer for people living in RVA. Congratulations […]
Perkins Law Limited Liability Company Flat Fee Package
Virginia adopted the Virginia Limited Liability Company Act in 1991, and LLCs have quickly emerged as the most popular business entity in Virginia. According to 2010 SCC statistics, new LLCs outnumber new corporations by more than a 2 to 1 margin. Limited liability companies offer some of the best features of limited partnerships and corporations: […]
New Changes to IRS Form 1023-EZ Now in Effect
The IRS recently rolled out a few minor changes to its Form 1023-EZ, an abbreviated version of Form 1023 that allows smaller nonprofits to apply for recognition of tax-exempt status more quickly and cost effectively. For a discussion of the new changes, click here.
Perkins Law to Sponsor Featured Match for the 10th Annual “Friday Night Lights” Event
Reserve your spot now for the 10th Annual “Friday Night Lights” at Salisbury Country Club on February 23!! Cocktails start at 6pm with dinner and matches quickly following at 6:30pm. Perkins Law will be sponsoring the $500 winner-take-all featured match for the fourth year in a row with Brett Moorhead and Cesar Grobel taking on […]
Goochland Chamber of Commerce’s Annual Social and Silent Auction
Fun evening with fellow business owners and nonprofit leaders at Goochland Chamber of Commerce’s Annual Social and Silent Auction (featuring auctioneer extraordinaire Peter Larsen), hosted by Hermitage Country Club. You don’t need to be Kreskin to predict the next 10-20 years are going to bring a lot of exciting growth and business development to Goochland […]
Perkins Law Renews Sponsorship for Local Business Startup Competition
Richmond small business and nonprofit law firm Perkins Law, PLLC has signed on to be a sponsor of the Richmond SCOREcard Business Model Startup Competition for the third year in a row. The business startup competition is a great opportunity for the RVA small business community to showcase its best and brightest entrepreneurs.
Five-Minute Intro to IRS Group Exemptions
For a quick introduction to IRS group exemptions click here.
2018 RTA Tennis Community Scholarship Presented by Perkins Law
Recognizing that tennis offers a pathway to a healthy and fulfilling life, the Richmond Tennis Association and Perkins Law, PLLC are proud to offer a $1,000 college scholarship to the male and female graduating senior who best (and most creatively) exemplifies all the great things tennis has to offer for people living in RVA. Applications […]
Perkins Law Legal Support Service for Small Business Owners
Starting and running a small business is unique in many ways. Finding resources and professional assistance geared specifically toward small businesses and startups can be challenging. These are just some of the areas where Perkins Law, PLLC steps in to fill the void: Business entity structuring considerations Securities compliance Agreements among business partners Strategies to recruit […]
A Quick Introduction to Insurance for the Virginia Small Business Owner
Managing risk is a critical part of owning a small business. Entrepreneurs manage risk every day in a variety of ways. Insurance is a key component of any risk management strategy, and small business owners should seek assistance from experienced insurance professionals during the early stages of starting a business. Effective risk management not only […]
Virginia Nonprofits Should Pay Attention to the #MeToo Movement
Probably safe to say we are experiencing a tipping point in American society’s attitudes toward sexual harassment. As the #MeToo movement expands and more people are willing to come forward to report their experiences, nonprofit organizations need to be ready to respond. Harassment is not a new phenomenon in and of itself, but the climate […]
7 Reasons Why Henrico County is a Great Place to Start a Small Business
Relying on data recently published by the Henrico Economic Development Authority, here are just a few of the many reasons why Henrico County is a fabulous place to start a business. Convenient Location. More than 55% of the U.S. population and major manufacturing sites are located within 750 miles of Henrico Thriving Business Community. More […]
Good News for the Small Business Community
According to BizBuySell.com’s 3rd Quarter Insight Report, 2017 has been a good year for small business transitions. A few general highlights of the report: More deals are closing Deals are closing quicker Due to steadily improving revenues and overall financial performances, small businesses are selling for higher prices. So if you are gearing up to […]
Anti-Harassment Policy a Must for Any Small Business
A cultural shift of tectonic proportions seems to be emerging right before our very eyes, and many would agree such an awakening is long overdue. The issue is sexual harassment and, in some egregious circumstances, sexual assault. Every business with employees, no matter how small or large, should absolutely have a clear and concise anti-harassment […]
Compare the Perkins Law Flat Fee LLC Formation Package Against the Competition
Starting a new business is an exciting and challenging adventure. You have literally hundreds of decisions to make and issues to address–legal, accounting, tax, marketing, insurance, financial, staffing, site selection, technology, and the list goes on. Most entrepreneurs recognize the value and importance of working with third-party professionals when appropriate. But even when a small […]
Perkins Named to “Super Lawyer” List of 2018
Henrico small business attorney Eric Perkins has been selected to the Virginia Super Lawyers List for 2018 in the Business/Corporate Law category. Only 5% of Virginia lawyers receive this distinction each year.
A Few Tips for Annual Employee Evaluations
The Perkins Law team just completed its annual evaluation process. It is truly one of the highlights of the year for me as a small business owner. I realize that with only one employee, the process is much easier to manage at Perkins Law than it is for most companies. In any event, here are […]
Virginia Franchise Forum 10th Anniversary Celebration
Attendees enjoyed an evening of franchise industry updates, education, and networking last night as the VFF marked its 10th anniversary promoting franchising in RVA. Industry leader FRANdata returned to present its annual year-end franchising review and industry forecast for 2018. In addition, a panel of franchise system representatives discussed the franchise recruitment process and other […]
Eric Perkins Featured Speaker at the Rotary Club of Short Pump
Eric Perkins, local business attorney and co-author of “Richmond – One of America’s Best Tennis Towns” will be our featured speaker talking about over 100 years of tennis history in RVA, including world records set here in Henrico County that stand to this day!
Perkins to Headline Center for Nonprofit Excellence Workshop on November 29
Richmond small business and nonprofit attorney Eric Perkins will be presenting “Great Beginnings and Graceful Endings–Tips for Navigating the Employee Hiring and Termination Process” at the Center for Nonprofit Excellence in Charlottesville, VA on November 29, 2017. Every employment relationship has a beginning and a conclusion. Both are critically important to an organization because there […]
Perkins Law Salutes the Richmond Tennis Hall of Fame Class of 2017
It was a great honor (and a lot of fun) to serve as master of ceremonies at the induction ceremony for the Richmond Tennis Hall of Fame Class of 2017 on Saturday night. A sold-out audience filled the ballroom at the Westwood Club for an evening of dinner, cocktails, and tennis talk. Richmond native and […]
Venture Forum Announces Companies to Watch
I had a great time last Thursday night at The Hippodrome networking with other leaders of the RVA entrepreneurial community at what has become a much-anticipated annual event organized by the Venture Forum. Congratulations to the 2017 Companies to Watch: Seasonal Roots, Food Not Flowers, Outdoor Access, and Crowdlobby. All four startup and emerging growth […]
Perkins Law Helping Raise Awareness for National Bullying Prevention Month
October marks National Bullying Prevention Month, which was initiated by PACER’s National Bullying Prevention Center in 2006 and brings together communities around the world to educate and raise awareness of bullying prevention. National Bullying Prevention Month is supported by hundreds of schools, community members, major corporations, and celebrities, and is an opportunity to encourage everyone to […]
Virginia Franchise Forum – 10th Anniversary Celebration
Join the VFF for an evening of franchising updates, education, and networking as it marks its 10th anniversary. Industry leader FRANdata returns to present its annual year-end franchising review and forecast for 2018. A panel of franchise system representatives will discuss the franchise recruitment process and best practices in franchise relationships. To register for this […]
Perkins Law at the 2017 Goochland Expo
The Perkins Law team is excited to be an exhibitor at the upcoming Goochland Expo on October 19, 207 from 5:00-8:00 pm at the Heart of Virginia scout Camp in Maidens, VA. For event details, please visit their website. This family-friendly event will feature exhibitors from the local business and nonprofit communities, beer and wine tastings, […]
Bon Secours Memorial College of Nursing Recognizes its 2017-2018 Scholarship Recipients
On an otherwise tragic day in the USA, I attended an event at CCV organized by the Bon Secours Memorial College of Nursing to recognize its 2017-2018 scholarship recipients and supporting sponsors. I was honored to meet Bret Fowler (pictured below), this year’s recipient of the Perkins Law Annual Scholarship. A native of Staunton, VA […]
Due Diligence Very Important for Prospective Franchisees
Are you considering becoming a franchise owner? When done correctly, franchising is a great way of doing business for both franchisors and franchisees. Success is not guaranteed, however, and franchised businesses can and do fail. To improve their chances of long term success, prospective franchisees have to do their homework (lawyers refer to it as […]
Perkins Law Signs on as Sponsor of Short Pump Rotary Golf Tournament to Benefit FeedMore
Richmond small business, franchising, and nonprofit law firm Perkins Law, PLLC is excited to announce it has signed on as a sponsor of the 2nd Annual Short Pump Rotary Golf Tournament, scheduled for October 4, 2017 at The Hollows Golf Club. Additional sponsorship opportunities are available and registration is open for 4-person teams for the […]
RVA BizLaw Episode 17 – Three Tips for Small Business Owners for Outsourcing
RVA BizLaw episode 17 is now available on the Perkins Law YouTube channel! Eric shares three tips for small business owners on functions that should be outsourced as quickly as possible!
Perkins again named to Best Lawyers in America list for Franchise Law
RVA small business and franchise attorney Eric Perkins has been selected by peers in the legal community to be included in the 24th edition of The Best Lawyers in America for his work in franchise law. With over 20 years of experience representing franchise systems and franchise owners, Eric continues to promote franchising through his […]
Early Stage Financing Options for Small Business Startups in Virginia
Financing a small business startup can present many challenges to Virginia entrepreneurs. If life was perfect, a business owner would never have to seek outside capital to finance the growth (or survival) of its business. But we know that life isn’t perfect and there are times when an owner concludes that his or her business […]
Does Your Nonprofit Have a Social Media Policy?
The recent controversy involving an Atlee softball team abruptly disqualified from the Little League World Series for an unsportsmanlike Snapchat post should be considered as a call to action for all nonprofit organizations to examine their policies and procedures with respect to social media. What would your organization do in a similar situation in which […]
RVA BizLaw Episode 16 – The Perkins Law 5-Finger Philosophy to Nonprofit Board Composition
Episode 16 in the RVA BizLaw series is now available and will explain how every member of a nonprofit board fits into one of five categories–each one resembling a different finger on your hand!
Happy National Dollar Day!
August 8 recognizes the day Congress established the U.S. monetary system in 1786!
RVA BizLaw Episode 15 – The Beauty of Advisory Boards for a Small Business
Episode 15 in the RVA BizLaw series is now available! Eric Perkins will explain the benefits of an advisory board for small businesses! Episode 16 will highlight The Perkins Law 5-Finger Philosophy to Nonprofit Board Composition.
RVA BizLaw Episode 14 – Tips for Navigating Ethical Dilemmas at Work
The latest episode in the RVA BizLaw series is now available!! Need a few tips for navigating an ethical dilemma at work? Eric Perkins offers three steps to help provide a framework that will allow you to stay out of trouble while maintaining your sense of integrity. Episode 15 will dive into the beauty of […]
100 Questions to Answer Before Buying a Franchise
Signing a franchise agreement is one of the most important contracts a person will ever sign. Asking the right questions, conducting adequate research, and careful planning are all important parts of the franchising process. Perkins Law is pleased to offer the Perkins Law 100-Point Prudent Planning Test for Prospective Franchisees.
Here’s the Rule Video Series Kick Off!
RVA’s tennis guru, Eric Perkins, kicks off the “Here’s the Rule” video series by addressing intentional and unintentional hindrances caused by an opponent’s body movements. Check out the link below for some insight into Code 35 and stay tuned for next week’s addition — Call Disagreements. If you have a tennis rules question please email […]
RVA BizLaw Episode 13 – The Importance of Business Ethics for Small Business Owners
RVA BizLaw episode 13 is now available. This episode dives into the importance of business ethics for small business owners. Anyone else agree that ethics is a timely topic for discussion? Catch episode 14 next week where we will share 3 steps to navigating ethical dilemmas in the workplace!
2017 RTA Tennis Community Scholarship Winners Announced
Perkins Law, PLLC is pleased to announce that Deep Run High School’s Nina Sorkin and Goochland High School’s Chase Bernstine are this year’s winners of the second annual RTA Tennis Community Scholarship. Sorkin finished her high school tennis career with an astounding 89-1 record, featuring four state singles and doubles titles as well as one […]
RVA BizLaw Episode 12 – Tips on Boosting the Value of Your Small Business
RVA BizLaw episode 12 is now available by clicking the link below! Eric will provide 5 tips to boost the value of your small business!! Keep a look out for episode 13 where we will dive into the importance of business ethics for small business owners.
RVA BizLaw Episode 11 – 2017 RVA SCOREcard Business Model Competition Recap
Congratulations to The Dog Wagon and it’s owner Robert Stout for beating out 21 other local entrepreneurs to win the second annual SCOREcard Business Canvas Model Competition, organized by Richmond SCORE. See and hear about Perkins Law’s Eric Perkins’ judging experience on Episode 11 of the RVA BizLaw Series just posted on YouTube or read […]
Differences Between LLC Membership Interests and Corporate Stock
Small business owners and entrepreneurs often use (and confuse) LLC and corporate terminology and concepts. This is understandable as many people view the two types of business entities as being functional equivalents of one another. With the flexibility offered by the Virginia LLC Act, it is not unusual for LLC owners to “incorporate” many corporate-like […]
Application Deadline for the Next Lighthouse Labs Accelerator Program is June 30
One of the crown jewels of the RVA entrepreneurial ecosystem is Lighthouse Labs, a nonprofit organization that operates a mentor-driven accelerator program for local startups. The program offers entrepreneurs a blend of mentoring, education and support services, and collaborate work space to help participating startups navigate from concept to viable, high growth businesses over a […]
RVA BizLaw Episode 10 – A Few Things to Consider Before Starting a Nonprofit Organization
View the latest episode in the RVA BizLaw series by following the link below! Eric Perkins talks about an ever growing part of the Perkins Law practice–nonprofit organizations! He highlights three things to consider before starting a new nonprofit. Sneak preview of Episode 11 coming soon: A brief recap of the 2017 RVA SCOREcard Business […]
Question to Virginia Small Business Owners–Are You Observing Proper Business Entity Formalities?
Correctly setting up a Virginia limited liability company or corporation is a great first step for your small business, but the responsibility does not stop there. Proper business entity maintenance, compliance and governance must be faithfully observed to enjoy limited liability protection and other legal benefits of conducting business through a separate legal entity. Easier […]
Coming This Summer – HERE’S THE RULE Series Featuring Tennis Rules and Sportsmanship Tips
Got a question about tennis rules? Come across a strange situation during a match and weren’t sure of the rule? New to tennis and don’t have a clue about tennis rules or etiquette? No more worries. Tennis rules guru Eric Perkins will be answering questions from the RVA tennis community all summer long as part […]
RVA BizLaw Episode 9 – Intro to Short Pump Rotary and Henrico Business Leaders
RVA BizLaw Episode 9 is now available!! Visit our YouTube channel below to learn about some of the best kept secrets of the RVA entrepreneurial ecosystem, including local business networking and community service organizations like the Short Pump Rotary Club and Henrico Business Leaders. Coming up later this month in Episode 10 – a few things […]
A Social Media Self-Assessment for Lawyers
Click here for a list of questions designed to serve as an informal self-assessment of your commitment to social media networking and building an effective presence online. The more “YES” answers, the better. There is no question that building your brand online requires commitment and time, but it can be done at reasonable expense (and […]
Perkins Law Signs on as Sponsor of College Week Tennis Camp
Richmond small business law firm Perkins Law, PLLC is pleased to announce its sponsorship of the 2017 College Week Tennis Camp program hosted by Willow Oaks Country Club. The camp, entering its 12th year, brings together some of the nation’s top college tennis coaches for a week of training with the area’s top juniors. Organized […]
A Quick Introduction to Virginia Business Entities
One reason why Virginia is consistently rated as one of the best states in the country to do business is because the Virginia General Assembly regularly updates its business entity statutes to keep them current, flexible, and entrepreneur-friendly. While LLCs have become the most popular choice of entity for the small business community, entrepreneurs have […]
RVA BizLaw Episode 8 – RVA Entrepreneurial Ecosystem
Visit the link below to check out the latest episode in the RVA BizLaw video series! Eric will discuss the RVA Entrepreneurial Ecosystem and why Richmond, VA is such a great place to be an entrepreneur or start a small business. He will break the ecosystem down into three different categories: 1. Money 2. Mentoring […]
Franchisor Flat Fee Package
The process of franchising your business or creating a new franchise system can be an exciting and fruitful experience that takes your business to the next level, but the process also involves many legal issues and documentation. Many small business owners looking to expand through franchising come into the process with unrealistic expectations and do not […]
RVA BizLaw Episode 7 – Why the Best Employment Relationships Are Like Great Movies
Generosity Inc. List of RVA’s Most Philanthropic Companies
Perkins Law is excited to be #39 on Richmond BizSense’s 4th annual Generosity Inc. list of RVA’s most philanthropic companies. In recent years we’ve had the privilege of supporting local schools with the Perkins Law Tennis Community Scholarship, SCORE, RTA, Short Pump Rotary, Henrico Education Foundation, Breath Matters, Virginia Baptist Foundation, and Henrico Christmas Mother. […]
Happy 8th Birthday Perkins Law!!
Perkins Law turns 8 years old in April. Serving the RVA small business and nonprofit communities has been such a rewarding experience and would not have been possible without the vast (and always growing) network of inspiring and loyal clients, colleagues, and friends that have trusted me with their transaction and compliance needs. The Perkins […]
Twenty Tips for the Small Business Owner Negotiating a Commercial Lease
For a small business owner, a shopping center or office lease will be one of the five most important business contracts you sign. Unfortunately, too many entrepreneurs do not invest the time and resources they should to fully understand the risks and ramifications of their commercial lease agreements. Follow this link to read an article offering […]
RVA BizLaw Episode 6 – Reasons to Dislike Sole Proprietorships
Check out the latest episode in the RVA BizLaw series in which Eric discusses why he dislikes sole proprietorships as a way of conducting business. Better choices readily available for entrepreneurs. Enjoy and stay tuned for episode 7 (Employment Relationships) coming up next week.
Eric Perkins to Speak at SCORE’s “How to Start Your Own Business” Workshop
Secure a seat for Richmond’s SCORE “How to Start Your Own Business Workshop” this Friday, April 7 from 8:15 am to 4:30 pm. Local small business owners and experts will discuss start-up basics: legal, bookkeeping, insurance, funding, Internet marketing, business planning and more. This workshop includes takeaway workbooks, peer networking and free follow-up coaching from […]
Flat Fee Legal Support Services for Virginia Small Business Owners
Ever had legal question concerning your small business and wished you had a reliable resource you could turn to for help that wouldn’t cost you $400 per hour? If so, then take a look at the flat fee service package offered by RVA small business and franchise law firm Perkins Law. Eric Perkins has been […]
RVA BizLaw Episode 5 -RVA Companies with Franchising Potential
Check out the latest episode of #RVA BizLaw’s in which Richmond, Virginia small business and franchise attorney Eric Perkins shares his thoughts on five RVA companies that appear to possess some attributes of successful franchise systems. Did you know that RVA is home base for quite a few successful franchise systems, including Rainbow Station, Mosquito Squad, Outdoor Lighting […]
RVABizLaw Episode 4 – More About Franchising in Virginia
Constant Contact All Star Award Winner for 2016
The Perkins Law team was excited to learn this week that we have been named a Constant Contact All Star Award Winner for 2016 in recognition of our social media networking efforts. Receiving this special designation means we are among the top 10% of Constant Contact subscribers in terms of our social media outreach and […]
Perkins Law Releases Updated List of Virginia Benefit Corporations
Want to know who are some of Virginia’s leading social entrepreneurs? For the past several years, Richmond small business and nonprofit lawyer Eric Perkins has studied State Corporation Commission published data and organized a master list of Virginia benefit corporations. Representing a wide variety of industries, the companies on this year’s list reflect a diverse and steadily […]
#RVABizLaw Twitter Chat – Social Entrepreneurship in Virginia
What Virginia Small Business Owners Can Learn from Former NBA Coach/Executive Kevin Eastman
The featured speaker at this Monday’s Henrico Business Leaders Breakfast was Kevin Eastman. At the time of his retirement last June, Kevin was serving as VP of Basketball Operations for the Los Angeles Clippers, following 35+ years of coaching at the NBA and collegiate levels. Richmond sports fans will surely recall Kevin’s days as a team […]
Why Donating Securities to Charity is a Smart Strategy
An increasingly popular strategy for charitable giving–especially in a rising stock market–is to donate securities to charity. Aside from the obvious philanthropic benefit of supporting an organization or cause that you are passionate about (e.g., Richmond Tennis Association, Goochland Pet Lovers, Breath Matters, James River Hikers-Hiking with History, among so many other great RVA nonprofits), […]
RVA BizLaw Episode 3 – Franchising by the Numbers
Check out the latest episode in the RVA BizLaw series, “Franchising by the Numbers”! Eric Perkins lays out the three key elements of a franchise and some important factors to keep in mind when choosing franchising as a path to business ownership. Stay tuned for Episode 4 this Thursday as we will dive deeper into the […]
What Virginia Small Business Owners and Entrepreneurs Can Learn from PwC’s 2017 Oscars Flub
Is it a sign of the impending doom of our society when we can’t even announce major award winners right? The world witnessed a colossal gaffe at the end of Sunday night’s Oscars ceremony when Warren Beatty and Faye Dunaway were apparently handed the wrong envelope when they walked on stage to announce the Best […]
Perkins Law Announces Annual Nursing Scholarship at Bon Secours Memorial College of Nursing
Richmond small business and nonprofit law firm Perkins Law, PLLC is excited to announce the creation of the Perkins Law Annual Scholarship that will provide tuition assistance for a deserving nursing student at Bon Secours Memorial College of Nursing. In selecting the scholarship recipient, preference will be given to applicants from Southwestern Virginia/Southern West Virginia. […]
Koontz-Shulman Emerge Victorious in the Perkins Law $500 Winner-Take-All Challenge Match
Eric Shulman and Hunter Koontz shared the $500 top prize from last Friday’s Perkins Law Winner-Take-All Challenge match (I assume they split the money 50/50) defeating Kyle Parker and Chase Bernstine to cap an entertaining evening of tennis at Salisbury Country Club’s 9th Annual Friday Night Lights tennis event. A crowd of over 300 local tennis […]
More Good News for the Nonprofit Community
The IRS announced today that publicly available information from approved Form 1023-EZ, Streamlined Application for Recognition of Exemption filings, is now available online for the first time. The data on IRS.gov is available in spreadsheet format and includes information for approved 1023-EZ applications beginning in mid-2014, when the form was introduced. The information will be updated quarterly. The […]
2017 RTA Tennis Community Scholarship presented by Perkins Law, PLLC
Now accepting applications for the 2017 RTA Tennis Community Scholarship presented by Perkins Law, PLLC. Recognizing that tennis offers a pathway to a healthy and fulfilling life, the RTA and Perkins Law are proud to offer a $1,000 college scholarship to the male and female graduating senior (from a public high school in the Metro […]
RVA BizLaw Episode Two – More About Virginia LLCs
Check out RVA BizLaw Episode Two which features more about Virginia LLCs, including the seven key issues to address in an LLC Operating Agreement! Episode three will guide viewers through the world of franchising. Contact Perkins Law for details about our flat fee LLC formation packages.
RVA BizLaw Episode 1 Now Available on YouTube
Ready for a 6-minute introduction to Virginia LLCs and why they have become such a popular choice of entity in the small business community? Then click below to watch the first episode of the new RVA BizLaw series. The next episode will feature more about Virginia LLCs, including seven key issues to address in an […]
IRS Releases New Version of Form 990-EZ
The IRS announced today the release of an updated Form 990-EZ, Short Form Return of Organization Exempt From Income Tax, that will help tax-exempt organizations avoid common mistakes when filing their annual return. The new version of Form 990-EZ includes 29 “help” icons describing key information needed to complete many of the fields within the form. The […]
Warning to Virginia Nonprofits-Watch Out if a Major Donor Declares Bankruptcy
Who would think that the bankruptcy of an emerging growth company could impact the nonprofit community in a dramatic way? Well, ask around the RVA nonprofit community and how they are being impacted by the Health Diagnostics Laboratory (HDL) bankruptcy case which has been trudging its way through bankruptcy court since 2015 with no end in sight. How does […]
Legal Support Services for Virginia Franchise Owners
Life for prospective and new franchise owners can be both exciting and overwhelming, hundreds of decisions to make and details to address each and every day—especially during the start-up phase. Here are a few contract and compliance tips as you forge ahead on your quest for success as an independently owned and operated franchise owner. […]
Looking for a 5-Minute Introduction to Virginia limited liability companies?
The Virginia LLC has become an enormously popular choice of entity for small business startups through the Commonwealth. Limited liability protection, pass-through tax treatment, minimal statutory formalities, and maximum flexibility in designing a governance structure and economic sharing arrangements among owners are a few reasons why. Click here for a quick introduction to the Virginia limited […]
Discussion Topics for LLC Owners
Going into business with one or more other people offers many potential benefits and risks. You hope for success, but need to plan for the worst. A carefully drafted agreement among a group of business partners is important to memorialize owner expectations and understandings concerning a variety of important topics. Click here for a short […]
Perkins Law Renews Sponsorship of Local SCOREcard Business Model Competition
Richmond small business and nonprofit law firm Perkins Law, PLLC has signed on as a sponsor of the SCOREcard Business Model Competition for the second year in a row. The business startup competition, featuring a $5,000 cash prize and free office space to the winner, is now open for registration through the end of January. A […]
RVA Biz Law Video Series Coming Soon
The Perkins Law team is finalizing plans to commence production of a series of informative video clips (typically just a few minutes in length) and live broadcasts on various topics of interest for the RVA small business, franchise, and nonprofit communities. Keep an eye for the first episode of the new RVA Biz Law series to […]
Due Diligence Very Important for Prospective Franchisees
Are you considering becoming a franchise owner? When done correctly, franchising is a great way of doing business for both franchisors and franchisees. Success is not guaranteed, however, and franchised businesses can and do fail. To improve their chances of long term success, prospective franchisees have to do their homework (lawyers refer to it as […]
A Quick Overview of Virginia Business Entities
Virginia is consistently ranked as one of the best places in America in which to do business. Virginia’s business entity statutes offer entrepreneurs a variety of options for structuring new business activities and investments. Click here for a five-minute crash course on the basics of Virginia business entities. Not sure which form of entity makes sense […]
A Few Compliance Tips and Best Practices for Startup Nonprofits in Virginia
Receiving an IRS determination letter recognizing tax-exempt status is an exciting moment in the existence of a young nonprofit organization, but there are many other legal, compliance, and governance issues to consider in the months and years to come. Read a few tips here and contact Perkins Law with questions. Ask us about our flat fee […]
Virginia Franchise Forum Features FRANdata’s Franchising Forecast for 2017
Perkins Law was excited to be a sponsor of the most recent Virginia Franchise Forum networking event at the Westwood Club. For the 8th year in a row, FRANdata presented its franchising year in review and forecast for next year. Senior research analyst Anya Nowakowski gave a fact-filled presentation and eagerly responded to questions from […]
Tips on Navigating the Employee Termination Process for Small Biz Owners
Like a good movie, employment relationships have a beginning, middle, and end. As a small business owner, neglecting any of them can lead to big trouble for your business. The termination process can be particularly stressful for employers, so it is helpful to approach that reality of small business ownership with care and proper planning. […]
Highlights from Gary Vaynerchuk’s Latest Book
After his impressive keynote address at the 2016 Clio Conference in Chicago, I could not wait to read Gary Vaynerchuk’s latest book, #AskGaryVee: One Entrepreneur’s Take on Leadership, Social Media, and Self-Awareness. A thoroughly entertaining and informative compilation of questions and answers from Gary’s regular #Ask GaryVee Show on YouTube, where he fields questions on marketing, […]
Entrepreneurial Words of Wisdom from Home-Based Business Conference
Perkins Law had a great time exhibiting at the recent Home-Based Business Resource Fair and Conference in Williamsburg organized by he York County Chamber of Commerce. Well over 100 small business owners and entrepreneurs attended a full day of workshops, panel discussions, and networking. One or my favorite presenters was Alice Cooke, owner of CakeAlicious in […]
Highlights from SCORE First Step Workshop for Prospective Business Owners
Thank you to today’s attendees and the Richmond SCORE chapter for the invitation to speak at today’s First Step Workshop for Prospective Business Owners. Here’s a quick list of some of the topics discussed during my session: 1. Business entities in Virginia–lots of choices, 2. Why sole proprietorships are NOT the best choice for […]
Perkins Named a Business Law “Legal Elite” by Virginia Business Magazine
Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite recognizes lawyers selected by their peers as outstanding attorneys in 18 different practice areas. In 2016, 1,300 lawyers nominated nearly 3,800 […]
Thumbs Up to Benefit Corp. Patagonia
Thumbs up to Patagonia, one of today’s leading social entrepreneurs for donating 100% of its Black Friday sales to charity. A great example of how benefit corporations are making a difference in communities across the nation. Coming up soon is the anticipated release of the 2016 edition of the Perkins Law Mater List of Virginia Benefit Corporations, marking the […]
Last Minute Relief for Small Business Owners from New Overtime Rules
Like the rest of the country, the Virginia small business community has been anxiously planning for the Department of Labor’s new overtime rules to go into effect on December 1, 2016–the basic effect of which would be to increase the number of existing employees eligible for overtime pay if they work more than 40 hours […]
Perkins Named a “Virginia Super Lawyer” for 5th Year in a Row
RVA small business, franchise, and nonprofit attorney Eric Perkins has been selected as a Virginia “Super Lawyer” for the 5th year in a row. Super Lawyers selects attorneys using a patented multi-phase selection process. Peer nominations and evaluations are combined with independent research. Each candidate is evaluated on 12 indicators of peer recognition and professional […]
Perkins Law Named Among “Best Law Firms” for 2016-2017
Richmond small business and franchise law firm Perkins Law, PLLC has been recognized by U.S. News & World Report in its “Best Law Firms” rankings for 2016-2017. “Best Law Firms” chooses lawyers based on client and peer reviews, as well as professional excellence.
Be Careful Not to Convert Your Nonprofit Volunteers into Employees
Nonprofit organizations often struggle recruiting and retaining volunteers, and they try valiantly to come up with creative ways to recognize and reward those individuals who generously contribute their time and talent to the organization. Nonprofits need to be careful that they do not inadvertently create employment relationships or trigger taxable events in this context. Let’s […]
Perkins Law to Exhibit at York County Home-Based Business Resource Fair and Conference
Did you know that there are an estimated 38 million home-based small businesses across the U.S.? The small business community is a driving force in our economy, but too often does not get the attention it deserves. Well, if you come to the York County Home-Based Business Fair and Conference this Friday (November 18, 2016) […]
Lessons from the Fonz for Small Business Owners
An estimated crowd of 1,000 people came out to Glen Allen High School last night for “An Evening with Henry Winkler” to benefit the Henrico Education Foundation. Winkler entertained the audience with inspiring comments and anecdotes from his life and career as an actor, director, and author. Several of his memorable comments and tips resonate […]
Virginia LLC vs S Corp? How About BOTH!
A commonly asked question by entrepreneurs and prospective small business owners during initial brainstorming sessions is “Should I go with an LLC or an S corp.?” Well, for many Virginia small businesses, the optimal answer is BOTH. You can own and operate your business through a Virginia limited liability company AND file an election to […]
Lessons from Billie Jean King for Small Business Owners
Tennis legend and equal rights advocate Billie Jean King was in RVA Thursday night as the featured speaker of a program sponsored by the VCU College of Humanities and Sciences commemorating he 40th anniversary of the 4th Circuit Court of Appeals decision forcing VCU to officially recognize the Gay Alliance of Students as a student […]
Reasons to Have Perkins Law Serve as Registered Agent for Your Virginia LLC or Corporation
If you are a small business owner in Virginia, you have hundreds of decisions to make and risks to manage every day. Who serves as registered agent for your Virginia business entity is certainly one of the smaller, less significant decisions, but it is nonetheless an important one and it can have expensive consequences if […]
A Few Tips for Maximizing the Value of Your Business
RVA small business attorney Eric Perkins was the featured speaker at the October meeting of the Richmond Chapter of the Window Coverings Association of America. The two-hour discussion included the advantages of LLCs as a choice of business entity, key issues to negotiate with business partners, the importance of properly classifying your workers, the pros […]
Ten Discussion Topics for Virginia LLC Startups
The Virginia limited liability company (“LLC”) has become a popular choice of entity among small business owners and entrepreneurs for the simplicity, flexibility, limited liability protection, pass-through tax treatment, and other benefits afforded by law. Click here to view an initial list of questions that should be discussed among business partners (and their advisors).
A Few Tips for Employee Retention and a More Engaged Workforce
Recruiting and retaining a talented team is just as important for small businesses as it is for professional sports organizations. I’ve had recent conversations with several local entrepreneurs who shared their current challenges and frustrations with staff turnover. What can a small business owner do to promote a greater sense of loyalty and engagement from […]
A Few Good Things to Know About Section 501(c)(6) Organizations
Need a quick intro to trade associations, business leagues, and other 501(c)(6) organizations? Click here for a few of the basics and contact us to learn more about our flat fee packages for exempt organizations.
A Few Thoughts from Clio Conference 2016
I had a great time attending my first Clio Conference two weeks ago in Chicago. Enjoyed meeting the Clio team, networking with other solo and small firm practitioners (including quite a few with Virginia connections), and winning an Amazon Kindle and Amazon Echo in two separate prize drawings! Here are a few of the more […]
Unique Opportunity for Nonprofits to Protect Key Intellectual Property
Click here to view article.
Tennis Rules Excitement at the US Open
One of the great sporting events in America, the U.S. Open starts on Monday in New York. Aside from the entertainment value of watching the world’s best tennis players compete for one of the most prestigious trophies in sports, you can also get a crash course on tennis rules by watching the on-court action and […]
1031/Tenant-in-Common Programs Making a Comeback?
Ten years ago, the syndicated 1031/TIC market was exploding with roughly 75 real estate sponsors raising over $4 billion in equity, then came the Great Recession and the industry more or less shut down, with many of those sponsors (and the independent broker-dealer firms who marketed the product) closing down with it. We know the […]
Due Diligence Very Important for Prospective Franchisees
Are you considering becoming a franchise owner? When done correctly, franchising is a great way of doing business for both franchisors and franchisees. Success is not guaranteed, however, and franchised businesses can and do fail. To improve their chances of long term success, prospective franchisees have to do their homework (lawyers refer to it as […]
Tips on Navigating the Worst Part of Being a Small Business Owner
For many people, terminating an employee is the most dreaded part of owning a business. On the other hand, maintaining a fully-engaged, high-functioning team is critical to the success of a business, and there are times when it becomes clear that an employee needs to be let go. How an owner or manager handles that […]
Perkins’ Tennis Rules Education Workshop Coming to Westwood!!
Eric Perkins, the current chair of the USTA Tennis Rules and Regulations Committee, will be leading an interactive workshop on tennis rules and etiquette on September 13, 2016 at the Westwood Club. Why is it important to know the rules? Where can you find them online? What are some of the most misunderstood rules in […]
More Talk About Social Entrepreneurship Coming to Charlottesville in September
I am excited to have been invited to speak about social entrepreneurship and Virginia benefit corporations at the September meeting of the Thomas Jefferson Chapter of the Virginia Society of CPAs. The half-day conference will take place at the Omni in downtown Charlottesville on Wednesday morning, September 14, 2016. Email us if you’d like a […]
Quick Tip for Small Business Acquisitions—Sometimes the Best Deal is No Deal
The road to a successful business acquisition can be a long and winding one with lots of obstacles along the way. Once a letter of intent has been signed to memorialize the basic structure and economics of the deal, a potential buyer typically begins a due diligence review or “deep dive” into the target business […]
One Million Cups RVA – Ivy Oaks Analytics
Ivy Oaks Analytics’ Founder and CEO Isaiah Ham presented his company’s vision and purpose at RVA’s One Million Cups…
Perkins Law’s Master List of Virginia Benefit Corporations
Who are Virginia’s champions of social entrepreneurship?
An Introduction to Virginia Limited Liability Companies
Consider the potential advantages of a Virginia limited liability company (LLC).
A Quick Introduction to Virginia Limited Liability Companies
The limited liability company (“LLC”) is a type of business entity that has been recognized under Virginia law since 1991. For many business owners, the LLC form offers…
Drafting Your Final Press Release
An often ignored part of the estate planning process is obituary drafting…
Franchising as a Path to Business Ownership
Ever considered franchising as a path to business ownership?
Drafting Your Final Press Release
An often ignored part of the estate planning process is obituary drafting—a morbid task for many, but a valuable planning opportunity that your loved ones will surely appreciate.
Franchising as a Path to Business Ownership
Ever considered franchising as a path to business ownership? If so, then careful planning and research are a must.
Applications Being Accepted for RTA Tennis Community
Perkins Law, PLLC and the Richmond Tennis Association have teamed up to offer a $1,000 college scholarship to a select male and female Metro RVA senior.
VA LLC Startup Discussion Questions
Consider these 10 discussion questions for Virginia LLC startups. This article provides an initial list of questions that should be discussed among business partners (and their advisors).
VA LLC Startup Discussion Questions
Consider these 10 discussion questions for Virginia LLC startups.
Education for the Future – One Million Cups RVA
Perkins Law office manager, Keri Fagan, joined a handful of other RVA small business owners and entrepreneurs at One Million Cups.
Perkins Law Checklist for Hiring Your First Employee
Fifteen tips to help you navigate through the hiring process.
Due Diligence for Small Business Acquisitions
The Perkins Law team is seeing a lot of small business acquisition activity in the RVA business community – a great sign for the local economy.
Perkins Law Renews Local Swim Club Sponsorship for 2015
Henrico County small business and nonprofit law firm Perkins Law, PLLC has agreed to renew its sponsorship of the Grey Oaks Aquatic League (GOAL) for 2015.
Perkins Law Ranked in “Best Law Firms” of 2015
Richmond small business and franchise law firm Perkins Law, PLLC has been recognized by U.S. News & World Report in its “Best Law Firms” rankings for 2015.
Last Virginia Franchise Forum Event of 2015 coming up on Thursday, November 19
Join the Virginia Franchise Forum on November 19 from 5:30-7:00pm at The Westwood Club.
Franchising Path to Business Ownership
Secure a seat for the Perkins Law Prospective Franchisee Workshop led by small business and franchise attorney, Eric Perkins.
Happy Halloween from Perkins Law!
Perkins Law sponsored a Best Costume Contest at Short Pump Rotary’s Great Pumpkin Race…
Warren Whitney Leadership Network Highlights
Thumbs up to RVA management consulting firm Warren Whitney for another great networking event this morning at Willow Oaks Country Club.
Perkins to Host RVA Tennis Hall of Fame Ceremony
Richmond business and nonprofit attorney Eric Perkins has been chosen to host the Class of 2015 Richmond Tennis Hall of Fame induction ceremony…
Memorable Quotes and Tips from Catalyst 2015
Thumbs up to Henrico EDA for a great half-day business conference featuring tips, experiences, and insights from some of RVA’s leading entrepreneurs and business leaders.
1 Million Cups Richmond Engage Entrepreneurs
Richmond’s 1 Million Cups provides a great floor for entrepreneurs to present their new business ventures with the community.
Bombshell Rocks 1 Million Cups RVA
Incredible presentation by local entrepreneurs Scott and Melissa Black (Bombshell Brazilian Waxing and Beauty Lounge) at 1 Million Cups event…
Highlights from Conference Presentation on Fraud and Nonprofits
The Center for Nonprofit Excellence and the Thomas Jefferson Chapter of the Virginia Society of CPAs put on a great conference for the central Virginia nonprofit community…
Perkins Law to Sponsor Costume Contest at Short Pump Rotary’s Great Pumpkin Run
The Short Pump Rotary Club is organizing the Great Pumpkin Run, featuring a 5K run/walk, kids fun run, and a costume contest sponsored by Perkins Law, PLLC.
Eric Perkins Selected to Serve as Mentor for Thrive Network
Perkins Law is pleased to announce that RVA small business attorney Eric Perkins has been selected to serve as a mentor for the Thrive Network.
Westover Strategic Advisors Rocks One Million Cups
Perkins Law office manager, Keri Fagan, joined a handful of other RVA small business owners and entrepreneurs at One Million Cups…
Due Diligence for Small Business Acquisitions
The Perkins Law team is seeing a lot of small business acquisition activity in the RVA business community – a great sign for the local economy.
Local SCOREcard Competition
The SCOREcard competition application deadline has passed and 27 local entrepreneurs have entered, representing a wide variety of industries.
Tips for Employee Retention and Reward Programs
Perkins Law shares tips and strategies for employee retention and reward programs…
Five-Minute Introduction to Regulation D Private Offerings
Perkins Law shares a quick introduction to Regulation D Private Offerings.
Virginia Franchise Forum – What’s Right (and Wrong) With Franchising?
Join the VFF’s panel of experts who will discuss and debate pressing challenges and concerns facing the franchise industry.
Reserve your spot today for the 8th Annual Friday Night Lights!
The night will showcase top juniors in the area…
Ten Tips for Happiness as a Small Business Owner
Perkins Law is sharing Ten Tips for Happiness as a Small Business Owner.
SCC Officials Offer Valuable Franchise Insights at Virginia Franchise Forum Event
Experts offered many regulatory insights and updates on the world of Virginia franchising…
Perkins Talks LLCs with RVA SCORE Chapter
Richmond business attorney, Eric Perkins, led an interactive discussion about LLCs and other types of business entities at yesterday’s monthly membership meeting of Richmond’s SCORE Chapter.
Lessons from Letterman for Business Owners and Entrepreneurs
There are three valuable lessons from Dave that all entrepreneurs and biz owners would be wise to follow…
Invitation to Virginia Business Owners
Check out Perkins Law’s flat fee registered agent service package…
Estate Planning for the “Bottom 99%”
I recently purchased a copy of the new book Get What’s Yours – The Secrets to Maxing Out Your Social Security…
History Made Today in the RVA Social Entrepreneurship Community
Local consulting firm Impact Makers, are gifting their equity ownership in the company to local nonprofits for the sake of philanthropy and to promote a higher level of social entrepreneurship.
Perkins Law Welcomes Zaxby’s to the RVA Franchising Community
The newest franchise to debut in the Richmond area is Zaxby’s…
Perkins Law Welcomes Duck Donuts to RVA Franchise Community!
First debuted in the Outer Banks of NC, Duck Donuts recently opened shop in the Willow Lawn Shopping Center…
Local Nonprofits Unveil New Branding
Congratulations to local nonprofit organizations Diversity Richmond and The Doorways for their recent rebranding efforts as reported in today Richmond Times Dispatch.
Highlights from Tom Tom Founders Summit
A sold-out crowd at The Paramount Theater in downtown Charlottesville, VA enjoyed a full day of presentations and panel discussions on a variety of entrepreneurship topics…
2015 USTA Annual Meeting and Conference (Boca Raton, FL) Highlights
A new two-year term and the administration of new USTA President Katrina Adams formally got underway at the Boca Raton Resort and Club…
Cesar Grobel Wins Perkins Law $500 Winner-Take-All Challenge Match
Salisbury Country Club tennis pro Cesar Grobel defeated Michal Ciszek 10-6 to win the Perkins Law $500 Winner-Take-All Challenge at the 7th annual Friday Night Lights tennis event…
Applications Being Accepted for RTA Tennis Community
Perkins Law, PLLC is excited to offer a $1,000 college scholarship to the male and female graduating senior who best (and most creatively) exemplify all the great things tennis has to offer.
The Virginia LLC
Learn more about the key issues business partners should to discuss during the start up phase of a Virginia LLC!
Perkins Law Winner-Take-All Tennis Match Nearly Sold Out
Only a few tickets remain for the upcoming Friday Night Lights Tennis Event…
Recent Headlines Highlight the Importance of Ethics
Whether you label it unethical behavior, lapse in judgment, bending the rules, pushing the envelope, or just an innocent mistake, our society today seems to have increasingly little tolerance or sympathy for those who lie or cheat for personal gain…
Top Issues for Young Physicians to Understand About Their Employment Agreements
For a young physician, his or her first employment agreement with a health care company or physician group is a major milestone.
#RVABizLaw TwitterChat Series kicks off on Friday, February 6 at 2:00 pm
The topic of discussion will focus on franchising–what is it, what laws regulate it, what to look for before buying one…
Perkins Law Master List of Virginia Benefit Corporations Updated for 2014
Social entrepreneurship is alive and well in the Commonwealth of Virginia, as evidenced by the growing number of Virginia benefit corporations in existence.
Famous Dave’s Bar-B-Que Closes its RVA Locations
National BBQ chain and franchisor Famous Dave’s abruptly closed all three of its RVA locations this past week…
Perkins Law to Sponsor Upcoming Virginia Franchise Forum Event
Perkins Law is pleased to be a sponsor of the upcoming Virginia Franchise Forum event…
Lobs and Lights on Saturday Night, October 25
Come out to celebrate the 10-year anniversary of Lobs & Lessons on Saturday, October 25 with a nighttime glow-in-the-dark experience!
Sneak preview of discussion topic at the October 16 Catalyst Conference…
How important is a strong commitment to business ethics to the success of your company?
Local Franchise Owners to Share Insights at Upcoming Virginia Franchise Forum Event
Interested in hearing real-life stories of the highlights and challenges of franchise ownership? Join the Virginia Franchise Forum on September 17…
Eric Perkins to Appear at the Real Estate Investment Securities Association (REISA) Annual Conference in Las Vegas
Richmond business and Regulation D compliance attorney Eric Perkins will be a panelist for a program titled “Emerging Structures in Private Placements”…
Perkins Law Takes on the Classroom!
This past Monday, Perkins Law had the privilege of volunteering with Junior Achievement at GH Reid Elementary School in Richmond City.
Perkins Law Signs on to Sponsor Catalyst and Ingenuity Conferences
Perkins Law, PLLC has recently signed on as a sponsor of two upcoming business conferences being organized by the Henrico Economic Development Authority.
Last Week’s Franchising Workshop a Success
The Perkins Law team enjoyed meeting a great group of entrepreneurs on Wednesday and having an interactive dialogue on all things franchising.
Converting Your Small Business from Sole Proprietorship to LLC Easier Than You Might Think
Millions of small businesses are operating with no formal business structure – exposing the owner to personal liability and limiting business growth and marketability.
Choosing a Registered Agent for Your Virginia LLC
When an entrepreneur goes to form a Virginia limited liability company (or corporation), one of the three or four required bits of information for the Articles of Organization is a designation of a registered agent of the LLC.
Kudos to Rep. Scott Garrett (R-NJ) for Sponsoring Private Placement Improvement Act of 2014
The Private Placement Improvement Act of 2014 (H.R 4570) is working its way through Capitol Hill. How far this proposed legislation will make it is uncertain…
Upcoming Seminar: The Franchising Path to Business Ownership
Join Perkins Law for a 60 minute introduction to franchising for entrepreneurs and others exploring options for business ownership on August 6, 2014.
IRS Form 1023-EZ Now Available for Small Nonprofits
The IRS has released a new, streamlined Form 1023-EZ that offers the promise of a more efficient process for small organizations to apply for recognition of 501(c)(3) exempt status.
Social Media Buzz Helps Bring Duck Donuts Franchise to RVA
The RVA franchise community will welcome a new franchise system to town this fall with the projected opening of a Duck Donuts location at Willow Lawn.
The Perkins Law Team Conquers Virginia Tough Mudder and Raises Funds for Charity
The Perkins Law team successfully completed the 10.1-mile, 20-obstacle Virginia Tough Mudder course on Saturday in just under four hours.
Highlights from Today’s Nonprofit Workshop for CNE
Thanks to the folks at the Center for Nonprofit Excellence in Charlottesville for the invitation to come speak today on the topic of reducing risk of fraud for nonprofits.
Surprising Costs of Litigation—Ask Paula Deen
As a business attorney, my job is to help clients plan ahead, memorialize their key business transactions and relationships in writing, comply with applicable laws, and sleep easier at night.
SEC Gives Huge Boost to Regulation D Private Offerings
At long last, the SEC has voted 4-1 to approve a rule allowing private offering issuers and sponsors to publicly advertise their Regulation D, Rule 506 private securities offerings.
Learn About the New Rule 506(c) Allowing Reg. D Sponsors to Advertise
Check out the article “Frequently Asked Questions About Accredited Investors in Regulation D Private OFferings”.
Virginia Franchise Forum Features FRANdata’s 2014 Franchise Forecast
A great crowd of local franchisors, franchisees, prospects, and other members of the central Virginia franchise community gathered at the Westwood Club for the Virginia Franchise Forum’s quarterly meeting.
Can a Virginia nonprofit sell ads on its website?
Are we allowed to sell advertising on our website (or our newsletter or event programs)?
SBA Financing Insights Shared at Focus Group Event
There was a standing room only crowd at C & F Bank’s commercial loan office at Innsbrook this morning as a panel of local SBA financing experts offered their insights and recent experiences.
Local Franchised Biz Shuts Its Doors at Short Pump Location
Lest anyone think that opening a franchised business is a guarantee of success, consider the fate of Three Guys Pizza Pies in Short Pump.
REISA rebrands as ADISA–Alternative Direct Investment Securities Association
Eric Perkins served as panelist at Sunday’s Real Estate Investment Securities Association Annual Conference at Caesar’s Palace in Las Vegas.
Polaroid Photobar–New Franchise Concept (that I’d like to see in RVA)
The Polaroid brand lives and is rolling out a national franchise program.
Five Reasons Why Local Craft Brewers Should Love Regulation D
The RVA craft brewery scene has been quite prolific in recent years with no immediate signs of slowing down. As these startups mature into emerging growth companies, raising capital becomes a major topic of strategic planning and discussion.
Congratulations to Several New Virginia 501(c)(3) exempt organizations
Perkins Law is privileged to work with many respected members of the Virginia nonprofit community, both newly formed and established organizations.
Joe Bourdow Returning to RVA to Speak at Virginia Franchise Forum Event on May 14
The Virginia Franchise Forum is pleased to have franchising expert Joe Bourdow, former President of Valpak and board member of the International Franchise Association, as featured speaker for its next quarterly networking event.
C3 ED: An Introduction to Franchising Your Business with Eric Perkins May 14
Join C3 ED: Left Brain Advice for Right Brain Professionals for a lunch workshop on how to franchise your business led by Eric Perkins of Perkins Law, PLLC on May 14 from 12pm noon to 1pm.
Virginia Franchise Forum Highlights
Joe Bourdow shared many pearls of franchising and business wisdom at the Virginia Franchise Forum’s quarterly networking event…
Come Visit the Perkins Law Table at GRCC After Hours Event on March 12 at RIR
Perkins Law is a proud sponsor of the upcoming Greater Richmond Chamber of Commerce After Hours biz networking event at Richmond International Raceway’s Torque Club.
Perkins to Speak at Franchising Workshop on Tuesday, March 11
Richmond franchise attorney Eric Perkins will speak about the basics of franchise law and franchise agreements on Tuesday evening at 6:30 at the Meadowdale Library in Chesterfield County.
Highlights from Today’s RVA Crowdfunding Conference
Kudos to the folks at Murphy & McGonigle and LeClair Ryan for organizing today’s crowdfunding conference at the Omni Hotel in downtown Richmond, Virginia.
Perkins to Speak on Business Ethics at February 18 Event
Richmond business attorney Eric Perkins will be the featured speaker at the next Focus Group program at Can Can Brasserie on W. Cary Street on Tuesday morning, February 18 2014.
Perkins Slated to Speak at Two Tuesday Events
Richmond business and franchise attorney will be speaking on business ethics and franchising at two separate events on Tuesday, February 18.
Perkins to Moderate Panel Discussion at Southern Film Festival on Feb. 8
If you are a tennis fan, then you want to mark your calendar for Saturday, February 8, 2014 at 10:00 am at the Grace Street Theater.
Eric Perkins Named a “Super Lawyer”
Richmond business attorney Eric Perkins, managing owner of Perkins Law, PLLC, was recently announced as a member of the 2013 Super Lawyers list in the Business/Corporate practice area.
Perkins Presents Update on JOBS Act and Alternative Investments
Richmond business attorney Eric Perkins of Perkins Law, PLLC presented an update on the JOBS Act and its implications for the alternative investment industry on Wednesday, October 23.
Local Franchisee to Appear on Jeopardy!
Best wishes to local franchise consultant (and Entrepreneur Source franchisee) Gus Lurillo, who will be a contestant on the game show Jeopardy!
Financing Tips and Trends Highlight Virginia Franchise Forum Event
The Virginia Franchise Forum convened on September 25, 2013 at the Westwood Club for an evening reception and panel discussion.
Nonprofit Board Workshop – Nov 30th
“The Perkins Five-Finger Philosophy of Nonprofit Board Composition,” workshop led by business and nonprofit attorney Eric Perkins of Perkins Law, PLLC from 11:30 – 1:00 p.m. on Wednesday, November 30, 2011.
Perkins to Discuss the “Five-Finger Philosophy of Nonprofit Board Composition”
Richmond nonprofit attorney Eric Perkins is slated to participate in an upcoming community tennis association workshop in conjunction with the USTA/Virginia Tennis Annual Meeting at the Country Club of Virginia in Richmond on October 29.
Perkins to Author Book Celebrating Richmond’s Status as One of America’s Best Tennis Towns
Richmond business and nonprofit attorney Eric Perkins is working with contributing authors Tom Hood and John Packett and publisher Wayne Dementi of Dementi Milestone Publishing to write a book celebrating the modern history of tennis in Richmond.
Newest Franchise to Enter the Richmond Area – Sky Zone Indoor Trampoline Park
Perkins Law extends a warm franchising welcome to Sky Zone Indoor Trampoline Park, which just opened its first Richmond-area location.
REISA Conference a Huge Success
Over a thousand leaders in the alternative investment industry wrapped up three days of education and networking at Caesar’s Palace in Las Vegas earlier today.
Perkins Presents Update on JOBS Act and Alternative Investments
Richmond business attorney Eric Perkins of Perkins Law, PLLC presented an update on the JOBS Act and its implications for the alternative investment industry on Wednesday, October 23.
Should a Virginia nonprofit be structured as a membership organization?
In my experience, there are relatively few situations in which a membership organization is the optimal choice of structure for a Virginia nonprofit organization.
IRS Checking Up on Certain Sectors of the Nonprofit Community in 2013
The IRS is currently doing a compliance “spot check” on over 1,000 exempt organizations falling under 501(c)(4), (c)(5), and (c)(6) to gather information on these types of self-declared exempt organizations, assess compliance efforts, and promote voluntary compliance…
Note to Small Business Owners—Avoid the Temptation to Astroturf
Astroturfing is the practice of masking the sponsor of a message to give the appearance that it comes from an independent, disinterested source. A business owner would be astrosurfing by posting a positive review of his or her business…
Coming Soon from Perkins Law: The Big List of Virginia Benefit Corporations
The Perkins Law team is compiling a master list of Virginia benefit corporations–who they are, where they are located, what they do–in an effort to promote greater awareness and understanding of social entrepreneurship in Virginia.
Virginia stock corporations can offer some flexibility too
When choosing a Virginia business entity, many point to the fewer formalities and paper work as one advantage of conducting business through a Virginia limited liability company rather than a stock corporation.
Don’t Underestimate Importance of Commercial Lease Negotiations
A commercial lease often represents the most significant legal obligation and expense for a start-up business. Business owners should not take the lease review and negotiation process for granted.
Nonprofit converts to “B” corporation for access to capital
According to a recent report by Forbes, CouchSurfing.org has decided to convert to a “B” or “Benefit” Corporation in order to receive $7.6 million in funding from Benchmark Capital and the Omidyar Network.
Flip Flop Shop Franchise Debuts in Henrico County
The newest franchise to join the local business community is the Flip Flop Shop, which recently opened a location at Short Pump Town Center.
Check out HARO for Free Publicity Opportunities
Some media and marketing experts will tell you the best marketing for your business will often come for free.
Make Payroll Tax Compliance Top Priority
Roanoke restaurant developer Roland “Spanky” Macher is learning a hard lesson about the perils of not properly accounting for payroll taxes withheld from employees.
Plan Carefully if Using Groupon or LivingSocial to Stir Up Business
The “group buying” or daily discount promotions offered online through Groupon, LivingSocial, and other players racing into the marketplace can be beneficial to your small business if done correctly….
Be Smart When it Comes to Securities Law Compliance
Raising capital from outside investors, whether from “friends and family” or an angel investor, will often trigger the application of federal and state securities laws.
Have You Explored SWaM Opportunities?
The Virginia SWaM Procurement Initiative was established in 2006 to provide new business opportunities for small, women- and minority-owned businesses.
Why NOT to do business as a sole proprietorship.
While many entrepreneurs and small business owners are fond of the sole proprietorship as a business structure due to its simplicity, there are a variety of disadvantages and shortcomings to the sole proprietorship.
Don’t Blame Regulation D for Troubles in the Alternative Investment Market
If you believe what you read, you might come to associate Regulation D private placements with bad deals, ponzi schemes, scam artists, and unscrupulous securities brokers pushing bad investment products on innocent people.
Raising the Bar for Regulation D Private Placements
Companies and sponsors thinking of raising capital through a private offering should devote the time and resources necessary to understand and appreciate the importance of securities law compliance.
Perkins to Speak on Charity Event Compliance Issues at Virginia Fundraising Institute 2011
Richmond business and nonprofit lawyer Eric Perkins will lead a workshop at the Virginia Fund Raising Institute 2011 on July 18-19, 2011 at the Wyndham Virginia Crossings Conference Center.
Don’t Forget Your “Doing Business As” Filings.
In many situations a business entity will conduct business under a trade name different from its legal name (e.g., ABC Enterprises, LLC operating a restaurant named “Big Bob’s House of Ribs”).
ConnectRichmond Nonprofit Workshop a Big Success
I was pleased to see over three dozen nonprofit leaders and organizers in attendance at last Wednesday’s workshop organized by ConnectRichmond.
SEC Proposes New Rule 501(a)(5) Accredited Investor Standard for High Net Worth Individuals
The SEC announced a proposed rule change to Rule 501(a)(5) of Regulation D as required under Section 413(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
CNBC Documentary on Franchising Offers Good Overview
CNBC’s recent show examining the world of franchising offered a reasonably insightful and balanced overview of franchising.
Documentary on the Good, the Bad, and the Ugly of the World of Franchising to Premier Wed.
What promises to be a no-holds-barred look into the modern world of franchising airs this Wednesday night (December 15) at 9:00 pm eastern on CNBC.
Documentary on the Good, the Bad, and the Ugly of the World of Franchising to Premier Wed. Night
What promises to be a no-holds-barred look into the modern world of franchising airs this Wednesday night (December 15) at 9:00 pm eastern on CNBC.
Eric Perkins named to Virginia Business Magazine’s 2010 “Legal Elite”
Richmond business attorney Eric Perkins has been named to Virginia Business Magazine’s 2010 “Legal Elite” in the Business Law category.