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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Posted on: March 7, 2024
Starting on January 1, 2024, under a new law called the Corporate Transparency Act (CTA), owners of certain business entities must file a report with the federal government, including details regarding the ownership of their entity. The CTA was enacted to help combat money laundering, financing of terrorism, tax fraud, and other illegal acts. Suppose […]
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Posted on: February 5, 2024
The impending Supreme Court decision in Connelly v. United States presents a pivotal moment for estate planning, particularly for business owners in Austin, Texas. This case centered around the valuation of life insurance in corporate redemption agreements for estate tax purposes, which could significantly alter the landscape of estate planning tools that have been long […]
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Posted on: December 13, 2023
Business ownership is a fulfilling and exciting endeavor. Still, it also comes with rules, responsibilities, and reporting requirements that can be hard to track. Suppose you own a small business or have a Trust that owns a business interest. In that case, you must comply with the Corporate Transparency Act (CTA) come January unless you […]
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