You and your BFF have an understanding. You think alike and you’ve decided to go into business together. Everything is informal because you and your BFF do not stand on ceremony. There’s no operating agreement, no bylaws, or buy/sell agreement. You’re just two guys who like to work Continue reading
Hands dropping coins
Do you have certain key employees who help make your family business a success? Keeping those employees may be essential to a successful transition of ownership and management to your children or another new owner when you retire or pass away. A “stay bonus” (also Continue reading
While the end of the year is not quite here yet (but rapidly approaching), now is an opportune time to take a moment and start your year-end tax planning for 2018. This is particularly necessary this tax year because of the changes to the tax law that became effective in 2018. As Continue reading
For many employees, saving for retirement is usually a matter of simply participating in their employer’s 401(k) plan and perhaps opening an IRA for some extra savings.
But, when you’re the owner of a business, planning for retirement requires proactivity and strategy. It’s not just Continue reading
Much of estate planning has to do with the way a person’s assets will be distributed upon their death. But that’s only the tip of the iceberg. From smart incapacity planning to diligent probate avoidance, there is a lot that goes into crafting a comprehensive estate plan. One important Continue reading
A common misconception is that only wealthy families and people in high risk professions need to put together an asset protection plan. But in reality, anyone can be sued. A car accident, foreclosure, unpaid medical bills, or an injured tenant can result in a monetary judgment that Continue reading