Business owners are often so busy with the day to day issues of running and growing their companies that the issue of business succession is often overlooked or left on the “back burner” until it’s too late.
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Advantages of Probate
Using these pros and cons as a guide, you can meet with your estate planning team to determine your best course of action in planning your estate—to either use or avoid the probate process.
Tax Planning for Family Business Succession
While the question of who will take over your business is central to a succession plan, it is equally important to plan ahead for the tax implications of a transfer of business assets to your appointed successors.
Hire Your Children and Help Them Save
Hiring your teenage children to work in your business can give them valuable employment experience and teach them to handle responsibility. It can also give them a head start in saving for their future.
Don't Be Surprised . . . Get Appraised!
Most of us would be surprised at the total amount of money we have "invested" in personal belongings. Yet, how many of us have taken the steps to ensure all our tangible assets are properly valued?
5 Ways to Build A Better Tax Plan
Taxes may be inevitable, but they're also something you have some power over. Here are five strategies to manage your tax burden going forward.
Funding a Business Buyout
The buy-sell business continuation agreement is a powerful instrument in helping to assure that the hopes and dreams of its original founders may continue unabated.
Where There’s a Will, There’s Way
Only through a formal legal will can you designate your own executor, guardians for minor children, and other fiduciaries.
IRS Extends Two-Year Limit on Innocent Spouse Relief
The Internal Revenue Service announced in July 2011 that it will “extend help to more innocent spouses” who were unaware that their husband or wife understated or underpaid taxes on their jointly filed returns.
Lifestyle•Advocacy•Family•Finance Newsletter
A FEARLESS HALLOWEEN The leaves are changing, and my neighbors’ Halloween decorations are already going up.