Trusts are often underused or misused tools for business owners, as they can provide a range of tax, asset protection, and succession planning benefits, when established and maintained in the right way. As a Personal Family Lawyer® with family business planning expertise focusing on serving business owners, I can help you choose the right Trust […]
Regardless of the industry you are in, the reality of being a business owner is that you open yourself up to a number of unique risks that most people don’t have to worry about—and the more successful your business is, the more risks you face. Unfortunately, most business owners aren’t fully aware of all the […]
Paying your children—whether they’re tweens, teens, or young adults—to work for your company is one of the greatest advantages of running a family business. By hiring your kids, you can help them develop a strong work ethic, give them experience managing money, and jumpstart their ability to save for their future, all while keeping more […]
This week, before the year ends, consider these 5 financial, retirement and tax actions you may need to take before it’s either too late or very costly for your family. And, if you have living parents in their 70s, make sure you cover these considerations with them this week. 01 – Review Your Investments […]
Although the end of the year can be a hectic time, it’s also the deadline for your family to implement a number of key tax-savings strategies. By taking action now, you can significantly reduce your tax bill due in April, but with just a few weeks left in 2022, you better act fast. While there […]
Along with personal liability protection, record-keeping requirements, and how you plan to finance your operation, one of the main factors to consider when choosing an entity structure for your business is deciding how you want your company to pay taxes. Your choice of entity will not only determine the rate at which your business is […]
Along with personal liability protection, record-keeping requirements, and how you plan to finance your operation, one of the main factors to consider when choosing an entity structure for your business is deciding how you want your company taxed. Your choice of entity will not only determine the rate at which your business is taxed, as […]
People often come to us curious — or confused — about the role trusts play in saving on taxes. Given how frequently this issue comes up, here we’re going to explain the tax implications associated with different types of trusts in order to clarify this issue. Of course, if you need further clarification about trusts, […]
If you have a sale of real estate or assets coming up that will result in you owing capital gains tax, you may want to give us a call to discuss whether to set up a Charitable Remainder Trust (CRT) first. Think of it this way: would you rather pay taxes and send your hard-earned […]