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The Top Stressors of Business Ownership and How to Manage Them (Without Freaking Out)

Posted on February 1, 2018 at 2:05 AM Comments comments (0)


There are many reasons people decide to start their own business: to be your own boss, set your own hours, control the people and projects you work with. Yet the reality of business ownership isn’t quite as rosy—it’s one of the most stressful endeavors you’ll ever undertake.


While running your own company will inevitably have its maddening moments, some of t...

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What to Expect From (and How to Prepare For) an Initial Estate Planning Meeting With Your Family Business Lawyer®

Posted on February 1, 2018 at 1:50 AM Comments comments (0)

Whether you’ve met with an estate planning attorney before or it’s your first time, it’s important to understand how working with a Family Business Lawyer® is different than meeting with a traditional lawyer.

 

This article will explain what’s involved with such a consultation, and it may even inspire you to meet with us to get your estate planning started or update...

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When Is a Good Time to Incorporate?

Posted on January 1, 2018 at 7:30 PM Comments comments (0)

Incorporating your business can save you money on taxes and limit your liability for business debts. But, most importantly, it says to the world -- I’m in business. And that sends an important message to you, your clients, your spouse, your friends, family and, yes, even to the IRS.


In the early months or years of your business, you may not be earning enough money to save on your taxes by incorporating, but it’s still important that you do, if you want to be mak...

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Ready to Write Your Will? Consider This Before You Go It Alone or Online

Posted on January 1, 2018 at 7:25 PM Comments comments (0)

A last will and testament is the most commonly thought of document when it comes to an estate plan. But, really, it’s a very small part of an integrated plan that ensures your family stays out of Court and out of conflict when something happens to you.


Don’t think you can just write your own Will and that will help your family. Instead, consider the reality that trying to do so could actually create far more trouble for them down the road. They need you to get pr...

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Business Owners May See Potential Windfall From New Tax Bill

Posted on December 20, 2017 at 2:15 AM Comments comments (0)



Due to its highly touted “business friendly” nature, the new Republican tax bill—which recently passed both the House and Senate—has been highly anticipated by many business owners. Known as the “Tax Cuts and Jobs Act,” both the House and Senate versions reduce tax rates, adjust tax structures, and revamp tax benefits for businesses to stimulate economi...

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New Bill is Potential Game Changer for Your Family's Tax Strategy

Posted on December 20, 2017 at 2:00 AM Comments comments (0)


If you follow the mainstream or social media news, you likely know the new Republican tax bill, which recently passed both the House and Senate, is a potential game changer for tax planning. Known as the “Tax Cuts and Jobs Act,” both houses of Congress passed different versions of the bill, so it’s unclear what the final legislation will include, or if it will even pass.


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Can Bankruptcy Save Your Business?

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If you’re struggling with debt, but don’t want to shut down your business, bankruptcy might be one way to save your company. While this may sound paradoxical, many big corporations— American Airlines, General Motors, and Kodak—have successfully used bankruptcy to restructure debt and get a fresh start.

 

The main difference between you and a big corporation filing bankruptcy is that if you use personal bankruptcy (either Chapter 7 or Chapter 13) ...

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New Tax Savings Available Using Section 179 and Bonus Depreciation

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With the end of the year approaching, it’s time to think about taxes again. While tax planning might not be the most exciting part of your job, with the right strategies in place, you can keep a lot more of the money your company brings in. Without proper planning, taxes can be your biggest expense, so start planning now!

And 2018 is a prime year for tax savings.

To spur sm...

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The Cost of Misclassifying Employees as Independent Contractors

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The rise of the “gig economy” has led to a dramatic increase in the number of businesses using independent contractors (IC) instead of traditional W2 employees. At the same time, there’s been a sharp uptick in the number of companies being penalized and/or sued for misclassifying workers as ICs.

Indeed, within the past 10 years, there’s been heightened scrutiny from reg...

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Don't Transfer Ownership of Your House to Your Kids Before You Read This

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With the cost of long-term care (LTC) skyrocketing, you may be concerned about your (or your elderly parents’ ability to pay for lengthy stays in assisted living and/or a nursing home. Such care can be massively expensive, with the potential to overwhelm even the well-off.

Because neither traditional health insurance nor Medicare will pay for LTC, some people are looking to Medicaid to ...

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