On September 13, 2021, Democrats in the House of Representatives released a new $3.5 trillion proposed spending plan that includes a wide array of changes to federal tax laws. Specifically, the Democrats proposed a number of significant tax increases and other changes to fund the plan, including increases to personal income tax rates and the capital gains tax rate, along with a major reduction to the federal estate Read More
3 Pitfalls to Avoid When Buying an Existing Business
Whether it’s your very first or your fifth company, if you’re looking to start a new business venture, you have two options: 1) build your own from scratch or 2) buy an existing one. And while many entrepreneurs dream of building their own company from the ground up, the reality is, launching a brand-new business can be incredibly difficult. Building a business from scratch can involve years of working long hours Read More
Misclassifying Employees As Independent Contractors Can Cost You Big Time
As more and more businesses take advantage of the benefits of using independent contractors (ICs) in lieu of full-time employees, the line between worker classification can get easily blurred. While understanding the difference between the two can be quite complex, getting it right can be one of the most important business decisions you’ll ever make. This is true not only in terms of productivity and your bottom Read More
What Should Be in Your Business Succession Plan?
The statistics on transferring ownership interests of family-run businesses suggest that it’s quite difficult for a company to survive the second generation. In almost every case, the lack of a strong business succession plan is the culprit. Business succession planning is the internal and external procedures for passing on one’s business to the next owners. For family-run businesses, this often involves the Read More
3 Ways to Achieve Tax Benefits By Incorporating Charitable Giving Into Your Estate Plan
You are likely well aware of the tax benefits that come from donating to charity during your lifetime—donations to charity are tax-deductible. But you may be surprised to learn about the numerous benefits that are available when you incorporate charitable giving into your estate plan. As with donating to charity during your lifetime, dedicating a portion of your estate to a charitable cause can reduce the taxable Read More
Everything You Need to Know About Including Digital Assets In Your Estate Plan—Part 2
Recent advances in digital technology have made many aspects of our lives exponentially easier and more convenient. But at the same time, digital technology has also created some serious complications when it comes to estate planning. In fact, if you haven’t properly addressed your digital assets in your estate plan, there’s a good chance that most of those assets will be lost forever when you die. Without the Read More
Lucero Serrano Hired as Chief Strategy Officer
Lucero Serrano was hired as the Chief Strategy Officer. If you haven't already - please welcome her to the team! TEAM MEMBER PROFILE Lucero Serrano joined the Law Offices of Tyler Q. Dahl in 2017 as Marketing Manager and Business Development Liaison. In 2019 she became the firm’s first Chief Strategy Officer (CSO). Lucero leads and oversees the framework strategies set by the Principal Attorney and executives of Read More
Spruce Up Your Company’s Documents Before Passing On Your Enterprise
After decades of successfully running your business, you clearly have a recipe for success. Eventually, though, it will be time to pass your business on to the next generation of leadership. It takes years of hard work, a lot of communication, and a little luck to pass on your closely held business to your kids and have it survive the transition. Assuming your kids want to take over the company, they might not Read More
Everything You Need to Know About Including Digital Assets In Your Estate Plan—Part 1
Recent advances in digital technology have made many aspects of our lives exponentially easier and more convenient. But at the same time, digital technology has also created some serious complications when it comes to estate planning. In fact, if you haven’t properly addressed your digital assets in your estate plan, there’s a good chance that most of those assets will be lost forever when you die. Without the Read More
The Advantages of Using Arbitration to Avoid Litigation
Whether it’s with an employee, client, vendor, or a business partner, going to court to resolve a dispute is something you want to avoid at all costs, since even if you wind up winning your case, getting caught in the court process is time consuming, expensive, and almost never good for your company’s reputation. To this end, the next time you find yourself in a dispute, you might consider attempting to resolve the Read More
