Category Archives: Business Planning

A Brief Explanation of Limited Liability Companies

1.  What is a Limited Liability Company? A limited liability company or “LLC” is a business entity that is designed to offer co-owners of a business who make a proper filing with the state, freedom from personal liability for the debts of the business, the debts of each partner, the option to manage the business...
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Sale or Purchase of a Business – Things the Parties Should Discuss & Determine

When buying or selling a business there are a number of issues to consider and ultimately resolve in order to ensure that both parties receive what they have bargained for and to make the process as smooth as possible. A lot of information is required so that your attorney and CPA can properly advise you...
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Revocable Living Trust Funding and Estate Administration – Common Problems

If you set up a Revocable Living Trust (What is a Living Trust?) for estate planning purposes, you probably did so with the belief that it would make administration of your estate easy, simple and fast.  This may be true so long as your Trust was properly funded and up to date with...
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Annual Gifting

If you are like me you get to the last few months of the year and think about how to give gifts to your children or others that you love.   Funny… the IRS even has something to say about that!  For the IRS it’s all about assessing taxes on just about everything we do and...
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