Posted on: January 5, 2023
You don’t have to be ultra-wealthy for a family limited partnership to make sense.
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Posted on: September 27, 2022
How Hiring employees increases your legal risks Scaling up necessarily requires help, but hiring can be risky. Companies have two choices when hiring a new worker: bring a new employee on board or hire an independent contractor. One of the main benefits of having employees is that you have much more control over the work […]
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Posted on: September 15, 2022
Handling S Corporation Interests in Estate Planning: Electing Small Business Trusts and Qualified Subchapter S Trusts One of the many challenges of owning a small business is determining the appropriate tax classification of the company. When an individual owns a business entity classified either entirely or partially as an S corporation, it is essential to […]
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Posted on: August 25, 2022
staying on track Operating your business without a business plan is like going to the grocery store hungry and without a list. You end up with a lot more than you need—a lot more than you even want—in your cart. And you've likely upset your budget for the week. A few such carefree adventures and […]
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Posted on: July 26, 2022
What to include in your business service agreements with vendors Small businesses account for nearly half of the economic activity in the United States. To successfully compete with bigger competitors, small businesses are increasingly outsourcing to improve their efficiency and lower costs. Outsourcing allows companies to expand their competencies in critical areas without taking on […]
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Posted on: July 5, 2022
Without a plan, you're planning to fail Benjamin Franklin famously quipped, “If you fail to plan, you are planning to fail.” Without business succession planning, you're putting your legacy at risk. As an Austin estate planning attorney, I have seen the value of comprehensive business succession planning in preserving family wealth. Unfortunately, I have also […]
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Posted on: June 14, 2022
Considerations Before Owning A Business With Your Spouse Running a successful business and having a successful marriage requires commitment and hard work. Many married couples find operating a business together challenging. But mutual devotion as spouses and business partners can bring higher levels of accountability and trust to the business. If you and your spouse […]
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Posted on: February 8, 2022
procedure determines outcomes The choice of the family ownership type for a business may determine whether it survives the transfer to the next generation. One of the biggest lessons that I learned in both law school and graduate school was that the rules of procedure often dictate the outcome. For instance, who may decide where […]
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