Last week, we discussed the individual provisions of the Tax Cuts and Jobs Act of 2017, which was signed by President Trump on December 22, 2017. This week we are going to cover the business provisions of the act which …
Currently browsing Business Planning
Turning Your Hobby Into a Business
You have dabbled in painting, pottery, woodworking or crafting most of your life. It has been your primary hobby. You are getting pretty good at it. You have done a few craft shows and art hops. You have made a …
Will or Trust – Which is Best?
Last week, one of the questions we discussed that I and my partner Buzz Suuppi get all the time is: How much assets do I need for a trust? What we are really being asked is: Should my estate plan …
Buying a Business
You have decided to buy a business. You have been talking to the seller and have agreed in principal to the sale. The seller wants you to sign a letter of intent or letter of agreement to show that you …
Business Exit Strategies Are Critical
The last two weeks, we have been discussing the setting up of your business and protecting yourself from business creditors. One of the most important items that is often overlooked when setting up a business is getting out of the …
Protecting Yourself From Business Creditors
Last week we discussed the organization and setting up of your business. This week we will discuss the operation of your business and how corporations and limited liability companies (LLCs) can protect your personal assets from business debts and lawsuits. …
Planning with Family LLCs
You have probably heard about family limited liability companies (“LLCs”), but you may not know the reasons for which you would use them. A family LLC is an estate planning tool to transfer and/or hold assets for succeeding generations. Before …
Protect Yourself From Business Creditors
You think have a valid corporation or a limited liability company (also called an “LLC”) because you have filed with the State. But do you have a valid business entity? Most business owners organize their business as a corporation or …
Savvy Business Exit Strategies Are Critical
Your business or practice is going strong. You are making a comfortable living. When was the last time that you thought about what would happen to the business when you are no longer running it. Whenever you get into a …
Business Entities
So you have decided to start your own business. Starting your own business can be exciting, fun and often times scary. Going at it alone is what you always wanted to do. If you decide to go all by yourself, …