Creative Business Law Insights & Advice | Griffin

FAQs About Independent Contractors and 1099s

by Matthew Murillo | Mar 21, 2019 | Business, CBL, NLBM

With the rise of the “gig economy” and so many people now working as independent contractors (ICs), as opposed to full-time employees, you should be well-familiar with the rules and requirements for the tax form known as a 1099. A 1099 is designed to document and...

3 Big Breaks Trump’s New Tax Law Offers Small Businesses You May Have Missed

by Matthew Murillo | Mar 7, 2019 | Business, CBL, NLBM

As you’ve undoubtedly heard by now, the 2017 Tax Cuts and Jobs Act (TCJA) is the most sweeping change to the U.S. Tax Code in more than 30 years. And while the legislation provides many of the biggest breaks to large corporations, it offers numerous benefits to...

Navigating State Laws Governing Business Names

by Matthew Murillo | Feb 28, 2019 | Business, CBL, NLBM

One of the coolest parts of owning a business is getting to come up with its name. On the creative side, you’re choosing a name to represent and encapsulate the essence of your life’s work. On the practical side, you’re trying to come up with something that will most...

Covering Your Assets: Liability Insurance & Limited Liability Entities

by Matthew Murillo | Feb 21, 2019 | Business, CBL, NLBM

It’s estimated that one-in-three small businesses is sued or threatened with a lawsuit at some point in its life cycle. And even if you end up winning the suit, the price of defending yourself in court can be massively expensive in terms of lawyer fees and court...

Creative Business Law Insights

Creative business law encompasses a wide array of legal considerations specifically tailored for entrepreneurs and small businesses in the creative sector. This area of law addresses unique challenges that arise in industries such as art, design, and entertainment, ensuring that business owners can navigate complex legal landscapes effectively.

For instance, creative professionals often face issues related to intellectual property, contracts, and licensing. By focusing on these specific needs, a creative business lawyer can provide targeted advice that helps protect the rights of artists and innovators while promoting sustainable business practices.

The Importance of Contracts for Independent Contractors

Contracts are vital for independent contractors as they establish clear expectations and responsibilities between parties. A well-drafted contract can prevent disputes and misunderstandings, ensuring that both the contractor and the client are on the same page regarding deliverables, timelines, and payment terms.

For example, including clauses that specify the scope of work and payment schedules can protect independent contractors from late payments or non-payment. Furthermore, contracts can also outline confidentiality agreements, which are essential for safeguarding proprietary information in creative industries.

Tax Considerations for Small Businesses

Understanding tax obligations is crucial for small business owners, especially in the wake of changing tax laws. Business owners must be aware of various tax deductions and credits available to them, which can significantly impact their overall financial health.

For instance, small businesses may qualify for deductions related to home office expenses, equipment purchases, and employee benefits. Staying informed about these opportunities can lead to substantial savings, allowing business owners to reinvest in their enterprises and foster growth.

Best Practices for Naming Your Business

Choosing the right name for your business is a critical step that can influence your brand identity and market perception. A well-thought-out business name not only reflects your company's mission but also helps in establishing a connection with your target audience.

Moreover, it's essential to conduct thorough research to ensure that the desired name is not already in use or trademarked by another entity. This proactive approach can prevent legal disputes and ensure that your business name is unique and memorable, which is particularly important in competitive industries.