Cooperatives have three areas of accounting that need to be understood by their members as the cooperatives are formed and as they are operated. Cooperatives obtain and track equity capital, usually through the members. As a business entity, the cooperative generates income through the products its sells or the services it provides to clients and …
General legal help
Updates to PPP under the Economic Aid Act
The Economic Aid Act, passed on December 27th, 2020, expanded the Paycheck Protection Program created by the CARES Act. The Economic Aid Act authorized $284 billion in new funds for first draw and second draw funds of PPP. The Small Business Administration (SBA) and U.S. Treasury have issued new guidance on how the changes will …
Cuba and Cooperatives (Part 3): Social, Economic, Racial, Gender and Sexual Justice Through Constitutional Reform
Information derives from a lecture by Cuban Criminal Justice and Cooperative Attorney Oldalys Perex Martinez, on January 15, 2020 We’re mainly taught in the U.S. that Cuba is “ruled” by a militaristic, one-party, authoritarian regime (e.g. links intentionally omitted). The on-the-ground perspective in Cuba is quite different; so too are the facts. Cuba’s people democratically …
Cuba and Cooperatives (Part 2): Cooperatives in Cuba, a Love Story (of sorts)
Much of the primary information comes from a lecture by Dr. Jesus Cruz Reyes, on January 13, 2020 in Havana, Cuba. Dr. Cruz Reyes is Cuba’s foremost cooperative economist and is on the faculty of economics at the University of Havana. The Cuban “State Enterprise” is undoubtedly the single largest economic consumer and producer in …
Cuba and Cooperatives (Series): Opening Invitation
Cuba is a study of contrast and contradiction. How does a 950-mile long island of 10M people, situated only 90 miles from the U.S., sustain its people, culture and autonomy while living under the proverbial boot of the most powerful country on earth? And, while promoting a deeply connected civil society that puts racial, sex, …
Worker Co-op Owners: Where to Report 1099-PATR Income on Your Form 1040 by Bruce Mayer
Our friends over at Wegner CPAs posted this blog on reporting 1099-PATR income on your individual tax return. We know that for our cooperative clients navigating tax season can be confusing and employee-owners may have questions about what to do with their 1099-PATRs. Bruce Mayer provides a concise and easy to understand assessment of individual …
Independent Contractor Agreements in Colorado
Most (if not all) of our clients enter into an independent contractor relationship at some point in their existence. The reasons vary: start-ups do not know whether they will be successful in the long term and therefore do not want to commit to an employment relationship; established clients need help for a brief period or …
What 18,000 crunches taught me about the practice of law
Roughly one year ago I set out to develop a new routine – 50 core exercise repetitions per day (e.g. 50 crunches, bicycle sit-ups, etc.). This routine took me approximately two minutes per day. Over the last year, I found myself doing many of these sets at 9:30 pm, right before bed, in a hospital …
Business Plan Outline
Overview/Executive Summary: can be one paragraph or more extensive as needed. Description of the Business: purpose, goals, objectives. Products/Services: What will the business be providing to its members and/or to the public? Consider whether this is different in the short term versus the long term. The Market: Who are the potential customers, including, demographics (type …
Do I need a business plan?
Here at Jason Wiener PC, we get asked all the time about the process for starting a new business or converting to a different form of business. One of the first questions we ask any client is “Do you have a business plan?” I would estimate that six or seven times out of 10, the …