“After taking business transactions apart in the courtroom for more than twenty years, clients (and opponents) began asking me to work on their transactions from the front and prevent the ten most common problems from ever occurring in the first place.”

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I am the San Antonio business lawyer who works with people in buying and selling businesses, planning for the future, and to get out of financial trouble.

For the last thirty years, I have tried cases for plaintiffs and defendants in State and Federal courts from California to Texas to Delaware. I have been the advocate for individuals and small companies as well as companies in the Fortune 100.  Those litigation cases have ranged from representing thousands of homeowners for broken plastic pipe in their homes to oil royalty disputes to breach of confidentiality agreements.

After literally taking business transactions apart in the courtroom for years, clients (and opponents) began asking me to work on the transactions from the beginning to try to prevent the problems from ever occurring.  In that stance, I have helped buyers and sellers in the sales of businesses ranging from large retail stores and manufacturing facilities to insurance agencies.  I have helped clients buy multi-million dollar, multi-story office buildings and and negotiate commercial lease agreements.

I work to improve the way my clients do business if that fits their goals.  I help design corporate structures and business transactions to increase profit, minimize taxes, and  make sure that assets are protected from lawsuits.  Having filed many suits and obtain judgments, I have learned where the potholes will be.

My business advice programs are based on regular review and meetings in order to get to know the client’s business and plans in more depth than is possible in the normal “hire a lawyer only when in trouble”.  It will cost a lot more for me to get you out of trouble than it would cost to keep you out of trouble in the first place.

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I have been named a SuperLawyer in Texas and featured in Texas Monthly.

My lawyer peers have granted me “AV” which is Martindale Hubbell’s (rating agency) highest peer rating for lawyers.

I have presented papers and spoken to audiences that range from service clubs to the State Bar of Texas Continuing Legal Education seminars. I was recently named Individual Finalist, San Antonio Ethics In Business Award, 2009 by the San Antonio Business Journal.

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When it comes to evaluating a business’ resale capacity, one of the most overlooked yet important aspects is to consider its health benefit policies.

As part of the valuation process, most would consider the health benefits program as a liability for a new owner. However, the type of health benefits given workers also indicates the management culture to a potential owner.
If a company provides excellent employee benefits, workers know their current regime values them as employees. Through the years, I have found that companies that provide their work force with a exceptional benefits program tend to have a “can do” culture on the job. For a prospective buyer, this factor carries an intrinsic value that typically adds value to their prospective company.
On the other hand, a firm that doesn’t have an employee benefits program or a rudimentary one demonstrates that the current regime doesn’t value its workers. While the savings from these programs looks impressive on a corporate balance sheet, it can indicate underlying factors that could create unforseen issues when a new owner takes over.

Employee benefits programs are in a kind of legislative limbo. President Barrack Obama’s healthcare reform leads many business executives to believe that every business must provide them to their work force. Yet, for those who want to build a business that has a higher resell value, having an effective one in place will truly increase its valuation.

The original of this article is at http://saenetwork.org/?p=1017

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Donna Nell is a financial expert associated with a few financial communities. She also holds honorary posts in some websites as a financial advisor where she advises on debt management, credit counseling and taxes.

These days, many people think that it is less hazardous to purchase a business than opening a business from scrape. But what, if you buy a business with debt? It is always beneficial to purchase a business that has already been established because of the brand name and customer base that the business has created over the years. If you choose wisely, buying an established business with outstanding debt might also lead to lofty profits.

Instruction

1. When you have made your mind to buy a business in debt, you must appoint a business attorney or a broker. A business attorney or a broker can help you to understand the details of the business and can explain in better terms why the business is in trouble.
2. Know in details about the assets and liabilities. See every owed and billable receipt. However, if liabilities are far more than the assets, the situation might be alarming.
3. Strictly go through every debt that the business has incurred. You might have to sign a nondisclosure agreement while taking over the business. But, before that, they must provide you with a complete debt disclosure. If the company does not incorporate the debts in the agreement, the previous business owner will be still liable for the debt.
4. Go through the last five years tax returns and financial records and discuss those with your business attorney in detail. Here you might discover the reasons behind the outstanding debt. If the debts were acquired due to matters not linked with business, then it is obvious that the finances need some modification.
5. Combine every information you have gathered and discuss those with your business attorney or broker. Ask them to advise how the firm’ financial status can be improved.  If cannot, just go for another firm.

However, before acquiring the business you can also ask the existing owner to pay of outstanding debts. Further, you can also talk to customers and vendors to have a better idea about the situation of the business.

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Bob Bennett & Associates, Professional lawyers in Houston, Texas for legal services for those in the medical professions including matters before the Texas Medical Board, and other Boards in Austin, Texas and  professional misconduct allegations against attorneys, judges, and law students before the Board Of Law Examiners  Grievance Defense, Legal Malpractice, and cases before the Texas Office of Chief Disciplinary Counsel, the Law School Admissions Counsel, the National Board of Medical Examiners, and state and federal investigations involving civil and criminal matters.

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Send your kids to their dream school, while avoiding saddling them under a mountain of school loans

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If you’ve been thinking of converting to a self-directed Roth IRA, it’s time to act. The conversion deadline is December 31, 2010. For 2010 only, if you convert an existing retirement account to a Roth IRA, you can split the converted income amount between 2011 and 2012, which means that you won’t pay any taxes in 2010 on the amount converted. Talk with your tax advisor or financial professional to determine what’s best for you. The previous income limit ($100,000) for converting a Traditional IRA to a Roth IRA was lifted as of January 1, 2010.  Read more in this blog and consider attending one of our upcoming webinars on Roth conversion.

Hang out with Eagles and watch your business soar!

James Montgomery

www.jamesmontgomerylaw.com

www.exitforcepartners.com

Of Counsel:

Elms Harmon Macchia, LLC

7800 IH 10 West, Suite 600

San Antonio, Texas 78230

210-690-3700

210-568-4550

Past issues have been archived on  jamesmontgomerylaw.com

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If you’ve been thinking of converting to a self-directed Roth IRA, it’s time to act. The conversion deadline is December 31, 2010. For 2010 only, if you convert an existing retirement account to a Roth IRA, you can split the converted income amount between 2011 and 2012, which means that you won’t pay any taxes in 2010 on the amount converted. Talk with your tax advisor or financial professional to determine what’s best for you. The previous income limit ($100,000) for converting a Traditional IRA to a Roth IRA was lifted as of January 1, 2010.  Read more in this blog and consider attending one of our upcoming webinars on Roth conversion.

Hang out with Eagles and watch your business soar!

James Montgomery

www.jamesmontgomerylaw.com

Of Counsel:

Elms Harmon Macchia, LLC

7800 IH 10 West, Suite 600

San Antonio, Texas 78230

210-690-3700

210-568-4550

Past issues have been archived on  jamesmontgomerylaw.com

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Settlement credit card debt negotiation might be the cure for your overwhelming debt problem. If your debt is for the most part unsecured, it can be negotiated and settled.

You may be pressured to take out a home equity loan to pay down your credit card debt. Don’t do it. The credit card debt is unsecured and using home equity creates secured debt.

You will probably find that the credit card company will not negotiate with you as long as your payments are current. Unfortunately, you will probably need to stop making payments in order to get their attention. It should not be that way but that is the way the system works.

Six months from your last payment, the debt becomes worthless on the books of the credit card company. A window will open up around the fourth month when you may be able to negotiate a lump sum or payment schedule with the creditor.

The card company will probably make an offer that seems entirely unreasonable. They are unreasonable for the most part. Your offer must be something that you can actually afford to pay. Never give them your checking account number or allow a draft to be made from your account. Too many unscrupulous creditors then try to take out multiple payments or as much as they can from your account.

In addition, you must be sure that the settlement is confirmed in writing. There are forms available that you can use. One of the primary goals that you must have is to have the payment of the debt reported as “paid as agreed”.

If you were not comfortable negotiating or need advice concerning settlement credit card debt negotiation, call upon an experienced adviser to get advice. Be very careful in using credit card debt settlement negotiators and make sure that you thoroughly check out the background of the company, particularly with the Better Business Bureau.

Don’t hire any debt settlement company unless you have learned the five things no one will tell you but you must know about settling debt.  Learn those by clicking here.

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Should you use a credit card debt settlement company?

On   http://www.myfinanceblogonline.com/archives/credit-card-debt-seem-impossible-to-repay-if-you-have-over-10k-a-debt-settlement-makes-sense-2/comment-page-1/#comment-5498, the blogger made this comment:

If you have over $10k in unsecured credit debt there is legitimate help out there. Instead of going right to a debt settlement company you might have heard on the radio or television, it would be wise to use a debt relief network. This way you can be assured that you find a legitimate company in your state. Check out the following link for a list of legitimate debt settlement services in your state:

Even with a referral network you have to be very careful.  If they want you to pay money into their bank account, start backing up.  If it is not a trust account that is insured, start running away.

You can do debt settlement by yourself.  If you need help, use an experienced debt negotiator.

Get more information

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