Posted on: October 10, 2024
Studies consistently find that only about 25–35 percent of Americans have an estate plan, a shockingly low rate when you consider that, in the absence of a plan, the state—not you or your family—decides what happens to your assets, including your business interests. This post discusses the relevance of your business documents to your estate […]
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Posted on: October 3, 2024
If you are a homeowner, you may know how much your home is worth. If you have a retirement account, you likely check the balance regularly. However, many small business owners do not know the value of their companies. This post covers business valuation basics. In certain circumstances, obtaining a business valuation is very important, […]
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Posted on: September 30, 2024
Limited liability is a significant advantage provided by corporations and limited liability companies (LLCs). However, the personal asset protection that corporations and LLCs provide for their owners is not absolute. To maintain the liability shield, owners must comply with certain corporate formalities required by state law or recommended as a best practice. In addition, observing […]
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Posted on: September 16, 2024
No law limits the number of LLCs an entrepreneur can own. Forming multiple LLCs may make sense under certain circumstances: for example, companies that have several rental properties, separate businesses with shared ownership, or when one business makes more money or has more assets than the others. Separate business entities may also be beneficial when […]
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Posted on: August 5, 2024
Welcome back, savvy small business owners! If you thought the first five small business tax moves that owners should make in Q3&4, which we covered last week, were exciting, buckle up because we will take your tax strategy to the next level. In Part 1, we explored supercharging your retirement accounts, making the most of […]
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Posted on: July 29, 2024
As a small business owner, strategically managing your finances is crucial to success. With the second half of 2024 underway, now is a great time to focus on what no one likes to talk about but can make a massive difference to your bottom line: taxes. This post discusses some business tax moves you can make […]
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Posted on: July 23, 2024
Americans are hungry to start businesses and have more tools than ever to tap into the United States’ free enterprise system. But starting a small business requires more than dreaming big, It requires choosing the appropriate business structure. To achieve the American dream of being your own boss and running your own company, you must […]
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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: 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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