We are seeing a historic shift in the way people work in the United States. While independent contractors have existed for a very long time, industries across the country have seen a huge surge in how many independent contractors are brought in by companies to work and produce results. The “gig economy” is a growing platform where individuals become their own bosses, soliciting opportunities from other individuals Read More

For licensed professionals, navigating the decisions surrounding business structures and their lasting implications is a crucial step toward sustained success. Professional corporations (PCs) offer a unique solution among the various options available. We wanted to elaborate on what PCs are, explore their benefits, and help you understand why they might be the right choice for many professionals. What is a Read More

Effective estate planning is crucial for proactively managing the transfer of wealth for generations to come. One of the most crucial elements of doing so comes down to the “powers of appointment.” Powers of appointment offers a unique blend of flexibility and control over asset distribution. These legal mechanisms are essential for individuals who wish to thoroughly guide the allocation of their assets, ensuring Read More

Around 2017, it was difficult not to notice the sudden popularity surrounding fidget spinners. This spinning toy, appealing in its simplicity, quickly became a worldwide phenomenon, engaging children and adults. However, this surge in popularity highlights a significant lesson in intellectual property (IP) rights and how vital the protection and preservation of those rights is. Catherine Hettinger is the original Read More

When managing a business, understanding the tax implications of your assets is critical for long-term viability. For small to medium-sized business owners, the complexities of business taxation are often daunting, especially regarding depreciable business property. The Internal Revenue Code (IRC) provides guidance under sections 1245, 1231, and 1250, each dealing with different business properties. It’s important Read More

Creating an LLC or corporation is a major venture that opens up doors for you and your partners to generate wealth and opportunity. One of the most crucial decisions you'll face is where to establish your business. This choice influences and is influenced by the location(s) your business operates, the structure of your business, and privacy. While many entrepreneurs default to their home state for incorporation, Read More

When businesses engage in the acquisition of another entity, the tax implications of such a deal are a crucial element that must be accounted for. Those implications look different depending on whether the deal is a stock sale or an asset sale. Each of these deals serves a different purpose in the business landscape. Working with an experienced firm that understands both tax and business law is an invaluable asset Read More

Holding wealth in an offshore account is often perceived as an illicit practice meant to hide money or avoid taxes. This is a common misconception as a high number of individuals hold offshore bank accounts for a variety of legitimate, legal reasons. Many hold financial interests abroad or seek to diversify their wealth through various currencies. But, how do these accounts and assets transfer to beneficiaries at Read More

Who wouldn't want a zero-interest loan? In the current financial climate, with interest rates posing challenges for both consumers and businesses, the appeal of such an offer is undeniable. High rates are holding entities back from reaching financial goals and even postponing significant purchases. A loan with 0% interest seems like a saving grace from the high interest rates, whether it’s from a family member, Read More