If you’re an entrepreneur or creative who wants a big life, not just a big job, Thrive Law will help you overcome the legal obstacles so you’re free to do what you love!
Thrive Law isn’t looking for one-night stands. The firm partners with creatives and entrepreneurs for the long haul. We invest time in you upfront so that when the honeymoon is over, you’ll know we get you and have your back. If you’re interested in a relationship with Thrive Law, give us a call and ask to schedule a business assessment.
What the heck is “The Creative Economy”?
YOU ARE THE CREATIVE ECONOMY.
The person with the brilliant idea who is willing to take a risk and bring it to life. The person with the paintbrush, the guitar, the potter’s wheel, or the glass studio. The person who brews beer or coffee or cooks up the world’s greatest barbeque sauce. The person who designs online experiences that excite and inspire. The person who creates photos and videos that capture the story behind the story. The person who uses social media ingenuity to triple business profits. The person who loses 100 pounds through discipline and perspiration and now envisions her own personal training empire. The person who creates extraordinary landscapes in neighborhood yards. The person who transforms food, hair, plumbing, or dog-walking into art. You.
When you were 7, your lemonade stand drove every other kid in your neighborhood out of business. When you were 16, you didn’t just cut lawns on the weekends; you owned a truck, a trailer, and employed 8 of your best buds.
Math only made sense when you applied it to playing your guitar. Your doodles were better than your essays. You make coffee at midnight so you can keep writing until dawn.
Are you a web design wonder? A social media maven? A technology titan? A brilliant beer brewer? A creative cook? A publishing paramour? Or are you a plumber with passion? A roofer with rhythm? A physician with flare?
Latest News from the Blog
By Jamie Moore Marcario, Esq.
The new millennium has seen the meteoric rise of the “gig economy,” in which businesses engage independent contractors (“IC”) to do the lion’s share of the work instead of W-2 employees. While ICs may seem like the way to go, the equally meteoric rise in the number of IC misclassification cases filed against businesses suggests that businesses relying on ICs should think again.
When a company misclassifies its independent contractors, the error is typically an honest mistake rather than an intentional end-run around the federal requirements. Accordingly, until the last 10 years, most regulatory agencies made little to no effort to enforce employee-independent contractor classification laws and regulations, leaving business owners to believe there was little risk if they chose not to strictly comply with the laws. But those days are gone. Today, both federal and state regulatory agencies apply heightened scrutiny when analyzing classification questions at all levels, leading to a new spike in classification lawsuits.
The penalties for misclassification are no laughing matter. If you misclassify an IC, your business may very well owe back taxes on behalf of team members you’ve mischaracterized, and you and your business may even be subject to criminal charges for misclassification. That said, with proper legal guidance from a business law firm like Thrive Law, it’s actually relatively easy to stay safe and compliant with respect to employee and IC classification issues. We make it simple by walking you through the following three steps ensure your IC classifications pass regulatory muster. Read more
One of the primary reasons business owners set up corporations and limited liability companies (LLC) is to shield their personal assets from debts and other liabilities incurred by the business.
Indeed, corporations and LLCs exist as separate legal entities from their owners, meaning the business itself can acquire assets, enter into contracts, and take on debt. In turn, if a corporate entity is unable to pay its debts, creditors are typically only allowed to go after the company’s assets, not the owners’ personal assets.
However, there are several circumstances in which business owners can be held personally liable for corporate or LLC debts. Sometimes business owners simply make innocent mistakes when running a business that leave them personally liable.
Other times, business owners take deliberate actions that expose them to personal liability, such as using the corporation to promote fraud, failing to observe corporate formalities, or even commingling corporate and personal assets. In any of these circumstances, a court can hold the owners personally liable for the debts and liabilities of the corporate entity. Lawyer types refer to this as “piercing the corporate veil.” Read more