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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Posted on: May 16, 2024
More young adults live at home with their parents today than ever since the 1940s. While there are many different opinions about this trend and the cause of its recent prevalence, the primary motivation for young adults staying at home with their parents is usually related to finances. Most adult children still at home plan […]
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Posted on: May 13, 2024
The Internal Revenue Code assesses a tax (gift or estate) on transferring money or property from one person to another during life or at death, with some exceptions. One example is the Self-Canceling Installment Note, which we will discuss in this post. If you own accounts or properties worth a lot of money and expect […]
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Posted on: May 9, 2024
You have spent years building your business, but eventually, you must sell the company and exit. While many business owners choose to keep the company in the family, that is not always realistic. Family members may not have the interest or skills needed to run the business. In such cases, selling the business to an […]
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Posted on: May 6, 2024
Married couples love each other and want the best for each other. Establishing a comprehensive estate plan is one way to provide the best for each other. An estate plan protects you when you cannot care for yourself during your lifetime and protects your hard-earned money and property after your death for those you love. […]
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Posted on: May 2, 2024
An intrafamily loan is a financial arrangement between family members—one who is lending and another who borrows. An intrafamily loan may be used to help a family member who needs money for several reasons: Lending to a child or grandchild can be satisfying. Your loved ones can benefit from flexible repayment terms and interest rates […]
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