Whether you're a seasoned business owner with decades of experience or an aspiring entrepreneur with big dreams, access to legal representation helps ensure that your business has a solid legal foundation. Refer to our blog to learn when an attorney's assistance is needed, then contact our office to schedule a consultation.
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Consider a GRAT to Transfer a BusinessSuccession planning for your real estate business can be daunting. Along with selecting the right family member or other individual to carry on the business, you must weigh a variety of tax and financial planning issues. Some closely held business owners have found it pays to use a grantor retained...
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Small Business Reprieve on Health Premium Reimbursement PlansHistorically, companies that wanted their employees to be protected with health coverage, but didn't want the hassle of having a company health plan, could simply give employees an amount of money sufficient to reimburse them for the cost of buying that coverage or some portion of it. As long as...
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Tax Savings on the Sale or Transfer of Personal GoodwillIf you're planning on selling/buying a business or transferring a business to a related party, then you need to be aware of the existence of goodwill and the tax effects. The ownership of the goodwill, by either the business entity or a key employee, may affect the tax treatment from...
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Succession Planning Lessons From TaiwanAnalysts fear for the future of the Taiwanese economy because of the failures of large family-owned businesses to come up with workable succession plans. Family-owned United States companies can learn some lessons from the potential crisis. In Taiwan it is normal for even extremely large multinational businesses to follow the...
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Is Your Corporate Shield Intact?While many small business owners seek legal counsel to assist them with the formation of their corporation, they may not understand or otherwise overlook the benefits of having continued legal counsel to assist with the operation of their corporation – specifically the importance of maintaining corporate formalities. Failure to draft...
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Business Owners: Protect Yourself and Your Family With a Buy-Sell Agreement!As a business owner, you really need to plan for the continuation or sale of your business in the event of death, disability, retirement or withdrawal from the business. This planning is needed to protect your business partners, family and even the business itself. You should consider a Buy-Sell Agreement...
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Why Business Owners Don't Plan for Succession—and Why it's CriticalMany business owners procrastinate putting a well-conceived succession plan in place. The reasons are understandable. It can be difficult to plan for your replacement and deal with your mortality. Here are five of the top reasons why business owners don't have an exit strategy, along with the reasons why it's...
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Squeeze More Out of a Company SEPIf you want a retirement plan for your small company or self-employed business -- but you don't want to be buried in paperwork -- consider a simplified employee pension plan or SEP. Among the appealing advantages: 1. SEPs are set up by simply filling out a brief form. 2. Annual...
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Who Will Take the Helm If You Aren't Able to Guide the Ship?Planning ahead in life seems to be difficult at times. But, when it comes to planning for major life and death decisions, it is important to do it now and ask for help from a professional. For many business owners, especially sole proprietors and owners of small businesses, keeping the...