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Business Planning

Proper LLC Formation and Governance: Sweating the Details

Posted on: September 13th, 2015
Setting up an LLC can, of course, offer many advantages. Chief among those advantages is an LLC’s flexibility. With less stringent requirements for compliance and less necessary paperwork than S-Corps and C-Corps, LLCs are easier to form and easier to keep in good legal standing. The flexibility of an LLC, however, is not permission to be informal in its creation or operation....

Valuation Discounts in Estate Planning soon to disappear.

Posted on: July 14th, 2015
IRS attorney signals looming restrictions on discount techniques. Estate Tax Planning with FLP and FLLC faces increased IRS scrutiny....

Business Owners: Have You Planned Your Exit?

Posted on: June 12th, 2013
You've worked hard building your business, but have you thought about what will happen when you are no longer there running the show?...

Business Owners: Have You Planned Your Exit?

Posted on: January 2nd, 2013
You've worked hard building your business, but have you thought about what will happen when you are no longer there running the show? According to one study (Small Business Review, Summer 2001), only 30% of all family-owned businesses survive to the next generation; only 12% make it to the third generation; and a meager 3% are functioning into the 4th generation and beyond. Why? Most business owners simply do not plan an exit. They do not do proper estate planning, which often results in unnecessary estate taxes that drain the life out of their businesses. And they do not plan for a successful transition to the next generation. Who could take over your business? You may have more choices than you think. ...

Asset Protection Considerations for Business Owners

Posted on: December 28th, 2012
Many business owners devote much time and energy “working in” their business to improve business operations and profitability; however, they often neglect to “work on” their business by not addressing certain asset protection issues. Business owners, particularly those owning their business in corporate form, should consider the following: 1) how to own C corporation or S corporation stock to minimize exposure to creditors, an “outside” asset protection issue; and, 2) whether to implement several basic business agreements designed to protect and even enhance business value from the “inside” of the corporation. ...
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