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Business Expenses and Building Business Credit

June 6, 2018 Spiegel & Utrera, P.A.

Creating a business is an American dream. Hard work and dedication may not be enough when starting your business. you must keep your eye on the big picture. There are many moving parts. Monitoring business expenses, protecting your work with copyrights or a trademark, securing your ownership of an item, and purchasing equipment for your business, how to keep track of business expenses and building business credit are just a few topics we cover below.

You Made It! How Do You Keep It?

Copy right your intellectual work

Opening day of the hip hop world championship has arrived. For over 10 years you and your crew of 8 guys have been practicing 8 hours a day for this moment right here. You know that these guys love you, but business is business. If they win this competition, it means touring and public recognition. What does that mean for you? Are you just the choreographer and nothing more? Why should they get all the fame? What can you do to make sure that you are securely the sole representative and director of this crew? After all, you need to make money too.

First and foremost, you need to make a contract with the crew. This contract should indicate that you own the copyrights to the dance performance that they are demonstrating on stage. In order to do that, you have to register your original authorship with the federal copyright. The contract should also state that anytime that the dance is performed in this manner, you would receive royalties from it as well as each member of the dance crew.

Copyright your work — business expenses

That’s My Move!

What if someone is already performing my moves? The move is authentic, and it even is referred to as the “cut and dry.” The “cut and dry” is eligible to be copyrighted as soon as the original dance move had been created in fixed form, and then registered with the federal courts. if it is being used after it has been registered, you may sue the person in federal court. However, it is much better to register the copyright, because it creates a public notice that you own the rights and enables you to sue in federal court if someone uses your choreography without your permission.

We’re Going On Tour

To take the crew on tour, is going to be a huge expense. There may be more than just the dancers to bring across the states with you. You need somewhere to place the props for the many new dance routines. You already own one bus, that actually belongs to you, but it looks like you need additional capacity. Each situation is different, but for this situation it is best for you to invest in the second bus from another LLC that has no relation to the crew and lease the bus to that crew’s LLC. This leasing strategy is a great way to build your business credit as well. Another point for leasing the bus to the crew, rather than purchasing it, could be an insurance issue. If the bus is involved in an accident, and the now famous dance crew is the owner of the bus, you may be liable for damages.

Wait! Can I Claim This As A Business Expense?

Another question that has come up is: If the crew decides to go to Disney after one of their shows during their break, does that take away the ability to claim the trip as a business expense? The answer is no. A business trip is a trip taken while conducting business during the eight-hour day. What the crew does on its off time is not going to be questioned. As long as the trip its self was for a business purpose. When a business expenses are claimed however, it is important to only claim the time that was utilized for business.

Visit our YouTube Channel for more information on building business credit and tracking business expenses.

ARE YOU READY TO START YOUR BUSINESS?
INCORPORATE TODAY AT WWW.AMERILAWYER.COM

Not Ready? Have More Questions?

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have business related questions, call (800) 734-9900 or ClubAssist@AmeriLawyer.com for assistance. Remember, as a member of the General Counsel Club, you receive unlimited legal, business, credit and tax advice all year long.

Spiegel & Utrera, P.A. is a corporate law firm with its main offices located in Miami, Florida with offices throughout the United States. As a law firm, we do more than just help you form your business entity. We stand ready to help with the maintenance of your legal business entity! We will assist you with Incorporation Service, Trademarks, Copyrights, Estate Planning, Legal Counsel, Wills,Trusts, Agreements & Leases, Corporate & Company

Copyright Your Work

June 4, 2018 Spiegel & Utrera, P.A.

AToday’s youth is confused and trying to claw their way out of a hole trying to express their individual personalities. Some show their uniqueness by the way they dress, some write, some even rap or sing. How ever they choose to express themselves, they must be allowed to create their own empire. Let’s be real, not all children or even young adults are built for stardom, but many truly are talented. To follow their dreams is everything for them. The words a young singer places on paper are very, very real in their hearts. To copyright their work is not even a thought for them. Perhaps it should be.

Register Your Works of Authorship

So, how do they protect and promote their music or drawings? Start by creating a marketing plan. We will talk about trademark or copyright laws, and how each artist can protect their work. We will also discuss creating a business with multiple partners and extending credit to your customers.

Copyright your work — Protect Your Works of Authorship

You notice that your child is behind her camera almost every day and on the computer editing those pictures all night long. She is passionately writing and drawing as well. What could she be up to? You sit her down to talk to her about what you believe is anti-social behavior. She opens her computer, only to reveal the most beautiful photos you have ever seen. Attached to each is a short essay describing her photo. There is no bias here, the pictures are divine. She then confesses to you that she wanted to enter her photos into a contest for a scholarship to the Arts Institute. Should you be concerned about copyrighting her photos and writing? The only way that your rights will be enforceable in the federal courts, is to copyright her work. You child will need to create her own company where she can sell her art.

Let’s discuss the different types of protection you can use to protect her work.

What Is a Trademark?

A Federal Trademark is a word, name, symbol, phrase, slogan, or combination of these items which is used to mark and distinguish goods or services to indicate their source or origin throughout the United States. Federal Trademark rights may be used to prevent others from using the same or a similar Mark in the United States.

What is a copyright?

A Federal Copyright is a form of protection provided by the laws of the United States to the authors of “original works of authorship” including literary, dramatic, musical, artistic, and certain other intellectual works. Once an original work is created, the federal copy right will begin. The federal copyright in the work becomes the property of the author who created the work. Generally, only the author can rightfully claim federal copyright. With this in mind, there are some exceptions to this rule.

Spiegel and Utrera can start your copyright process with 5 easy steps:

STEP ONE. Submit your Trademark, Copyright or Trade Dress Order

We make it convenient for you to submit your Trademark, Copyright or Trade Dress. You can complete and submit an order online with our (128 bit encrypted) secure order form. This will take, approximately, 5 minutes of your time. You can call one of our many offices toll free or you can also visit one of our many office locations. If visiting one of our offices, please call to verify attorney availability and to request an appointment.

STEP TWO. Preparation of the Trademark, Copyright or Trade Dress Application

Our staff will prepare your Trademark, Copyright or Trade Dress Registration Application based upon the information you have submitted.

STEP THREE. Verification of the Trademark, Copyright or Trade Dress Application

Once Spiegel & Utrera, P.A. has prepared your Trademark, Copyright or Trade Dress Registration Application, it will be emailed to you for your approval and signature. Once you have approved and signed the Trademark, Copyright or Trade Dress Registration Application, you will return it to Spiegel & Utrera, P.A. along with Credit Card authorization for payment of the government filing fee.

STEP FOUR. Sending of Trademark, Copyright or Trade Dress Application to the Government

Once Spiegel & Utrera, P.A. receives your signed Trademark, Copyright or Trade Dress Registration Application and the government filing fee from you, your Trademark, Copyright or Trade Dress Application will be filed with the government.

STEP FIVE. Confirmation of Filing of Trademark, Copyright or Trade Dress Application to the Government

Upon filing your Trademark, Copyright or Trade Dress Application with the Government, Spiegel & Utrera, P.A. will give you written confirmation of the filing of your Trademark, Copyright or Trade Dress Application with the Government.

Keeping accurate records for your business is important.

Another topic to consider, is record keeping for the sale of these photos. We already know that her photography skills are top notch. Also, her writing skills are incredible. This is the time to think about making her freelance journalism a corporation. In doing so, she could sell her photos and essays to magazines, bloggers, websites, or more.

It is important however, that she create a separate bank account for the money she earns for her work. Bookkeeping is important when you have your own corporation. By keeping bank records and credit card expenses separate, it will help to keep your business organized and on track once you see your accountant.

Extending Credit To a Client

What do we do if she is now selling one photo and article a month to a magazine who promised payment a week after they received the photos? The company has received many of your photos., but you still have not received payment. You want to keep the relationship with the customer. You cannot continue granting them your inventory without payment. It may be necessary to sell your photos on a C.O.D. basis. This may let you know if they had any intention on paying you to begin with.

When extending your customers a line of credit, it is important to consider who they are. Moving forward, you can create your own credit application to verify all the aspects that you need to know prior to extending credit to them. It is important, however, that you know their personal information when it comes to finding out if your client is going to pay or not. Once you have determined the credit status of the client, you should be able to negotiate your income.

Visit our YouTube for more information like this

ARE YOU READY TO START YOUR BUSINESS?
INCORPORATE TODAY AT WWW.AMERILAWYER.COM

Not Ready? Have More Questions?

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have business related questions, call (800) 734-9900 or ClubAssist@AmeriLawyer.com for assistance. Remember, as a member of the General Counsel Club, you receive unlimited legal, business, credit and tax advice all year long.

Spiegel & Utrera, P.A. is a corporate law firm with its main offices located in Miami, Florida with offices throughout the United States. As a law firm, we do more than just help you form your business entity. We stand ready to help with the maintenance of your legal business entity! We will assist you with Incorporation Service, Trademarks, Copyrights, Estate Planning, Legal Counsel, Wills,Trusts, Agreements & Leases, Corporate & Company