Posted on: June 17, 2024
Having an estate plan is a great way to ensure you and your loved ones are protected today and in the future. When creating an estate plan, we look at what is going on in your life at that time. But because life is full of changes, it is essential to make sure your plan […]
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Posted on: June 13, 2024
When most people think about creating an estate plan, they usually focus on what will happen when they die. They typically do not consider what their wishes would be if they were alive but unable to manage their own affairs (in other words, if they are alive but incapacitated). In many cases, failing to plan […]
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Posted on: June 10, 2024
Wrongful death lawsuits and probate proceedings are both civil legal matters that occur after somebody has died. When another individual or entity causes the death of a loved one, it can lead to the filing of a wrongful death lawsuit and, ultimately, the awarding of compensation to surviving family members. Probate is a court proceeding […]
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Posted on: June 6, 2024
Under the Corporate Transparency Act (CTA), which took effect January 1, 2024, many business entities, including small limited liability companies (LLCs) and partnerships, are required to file reports with the Treasury Department’s Financial Crime Enforcement Network (FinCEN). In these filings, applicable businesses must disclose important information about their entity. However, recent CTA litigation updates have […]
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Posted on: June 3, 2024
The U.S. Department of the Treasury has released its General Explanations of the Administration's Fiscal Year 2025 Revenue Proposals. Commonly referred to as the Greenbook, this document lays out tax proposals that would support President Biden's policy priorities if he is reelected to a second term. This year's Greenbook primarily focuses on increasing taxes on […]
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Posted on: May 30, 2024
A company shareholder agreement is a contract between the shareholders of a corporation that outlines each shareholder's rights and responsibilities and their obligations to one another and the corporation. Shareholder agreements, also known as stockholder agreements, are optional but often used by closely held corporations with a limited number of shareholders and concentrated ownership. In […]
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Posted on: May 27, 2024
The Tax Cuts and Jobs Act (TCJA) of 2017 made several significant changes to the tax code that affect small businesses and business owners. It introduced the qualified business interest deduction, added a bonus depreciation deduction for qualifying property, and imposed a new limitation on business interest expense deductions under Internal Revenue Code (IRC) section […]
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Posted on: May 23, 2024
By now, you have likely heard about the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) and the SECURE 2.0 Act of 2022 (part of the Consolidated Appropriations Act, 2023). But, have you heard about the relevance of 529 plans to Roth IRA's? These pieces of legislation were created to encourage […]
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Posted on: May 20, 2024
Wills and living trusts are two of the most fundamental estate planning documents. While both accomplish the same primary objective in an estate plan of directing the distributions of your money and property to your desired beneficiaries after you pass away, a revocable living trust, often referred to simply as a living trust or an […]
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