After years of low examination rates, the IRS has recently announced that they are planning to increase audits of small businesses by about 50% during the 2021 tax year. They are even planning to hire more specialized auditors to strengthen their enforcement efforts in order to accomplish this increased audit rate. Although the possibility of … Continue Reading
Business Succession Planning – Cultivate Enduring Value in Your Company Business succession planning may be one of the most challenging issues a small business owner will face. However, a well-conceived succession agreement can minimize friction among owners, relatives, and key executives and ensure the business endures for the next generation. Many small business owners may … Continue Reading
Business Entity Selection Entity selection is one of the most important decisions a new business venture has to make.The choice you make about the structure of your business will affect how much you pay in taxes, the level of risk to your personal assets, and even your ability for funding. Our firm can help advise … Continue Reading
Important Reminders for Any Entity that requires an Operating Agreement. It is important to review each Operating Agreement each year; especially since there has been new rules that have been passed that affect certain aspects of the agreement. Below is a list of some items to help you review the agreement: Ensure that the new … Continue Reading
A new year is on the horizon which encourages business owners to think of ways to innovate and grow their businesses. While you are trying out new ideas and strategies, it’s important to remember some fundamentals. One of these fundamentals for owners of S-Corporations are the bylaws of the business. S-Corporations are required by state law … Continue Reading
Federal Trademark Registrations Are Important to Protect Your Company’s Goodwill and Reputation A common mistake start-ups and small companies make is that they wait too long to file for federal trademark registrations. In the beginning, they decide they do not want to spend their limited monetary resources to file for trademark registrations when they first … Continue Reading
What is a Professional Will, and why would I need one? Most people don’t like to think about the possibility of becoming incapacitated or about their inevitable deaths. Despite this reluctance, many people understand and value the importance of having a Last Will and Testament as a way to clarify their wishes and make it … Continue Reading
Liability Protection: Considerations Regarding The Transfer of Rental Property To a Legal Entity Q: I recently purchased a rental property and title is held in my individual name. I put 20% of the purchase price down and financed the remaining 80% of the purchase with a loan secured by a deed of trust on the … Continue Reading
Crowdfunding has become a popular way of raising financing. It generally involves using the internet to ask a large number of people to each contribute a small amount of money to support a cause or a project. In some cases, people give money as a donation because they believe in the particular cause or project. … Continue Reading
The Anticybersquatting Consumer Protection Act (ACPA) is designed to punish people for registering a domain name with the intent of making money off of someone else’s trademark rights even if a trademark is not registered. For example, if a well-known corporation had failed to register a domain name such as www.famouscorporation.com and someone else … Continue Reading
