The Cummings & Cummings Law Journal

Lately, I have been fielding questions from clients regarding the purportedly forthcoming ban on TikTok, particularly from a federal income tax perspective. Whilst the legal nuances underpinning the proposed ban and the Constitutional implications are complex, I am providing a brief synopsis below which addresses some of the key considerations from a U.S. income tax

One of the most important decisions when starting a new business is choosing the legal entity type. The legal entity type you choose will affect many aspects of your business, including taxes. In Florida, the most common legal entity types for small businesses are limited liability companies (LLCs), partnerships, and corporations. In this blog post,

Starting a new business is exciting and challenging, and it can be easy for start-up founders to get caught up in the excitement and overlook potential pitfalls. However, failure to address these issues can lead to serious problems down the line. In this blog post, we will discuss common pitfalls that start-up founders make when

Starting a new business can be a challenging and exciting venture, but it can also be fraught with legal pitfalls. Even the most well-intentioned start-up founders can make mistakes that can have serious legal and financial consequences. In this blog post, we will discuss the ten most common legal mistakes start-up founders make and ways

Starting a business is challenging, but when foreign investors are involved, it can become even more complex. Foreign investors bring unique challenges and considerations that must be taken into account during the start-up process. In this blog post, we will discuss special considerations when a start-up has foreign (i.e., non-U.S.) investors. Understanding Foreign Investment Laws

As start-ups grow and expand, they may need to hire additional personnel to help achieve their goals. However, there are important employment law considerations that start-up founders must take into account when making hiring decisions, including the choice of whether to classify contributors as employees or independent contractors. In this blog post, we will discuss

Fundraising is an essential part of starting and growing a business, but it can also be one of the most challenging. Start-up founders must navigate a complex landscape of funding sources, investors, and regulations to secure the funding they need to bring their vision to life. In this blog post, we will discuss common problems

As start-ups begin to grow and expand, they will inevitably be faced with the need to negotiate and enter into contracts with a variety of parties. These may include suppliers, vendors, employees, investors, and customers. It is important for start-up founders to understand the key contractual provisions that should be considered when negotiating these agreements

Starting a new business is an exciting and challenging endeavor. One of the most important steps in starting a new business is filing the necessary documents with the Florida Secretary of State. In Florida, the process of forming a new business involves several steps and requires filing certain documents with the Secretary of State. In

Starting and growing a business requires a diverse set of skills and expertise. While some start-up founders may have experience in certain areas, it is often necessary to hire professionals to help navigate complex legal, financial, and operational issues. In this blog post, we will discuss the number and types of professionals that a start-up

One of the most important steps in starting a new business is obtaining an Employer Identification Number (EIN) from the Internal Revenue Service (IRS). An EIN is a unique nine-digit number assigned to businesses for tax purposes. The EIN is used to identify the business when filing taxes, opening a bank account, and applying for

Whether you’ve just conceived the idea for a new app, product, or service, or whether you’ve been operating for years, dealing with the legalities and technicalities of starting and operating a start-up or small business can sap the creative energy of even the most resilient. To that end, this post is part of a series