Your Business Needs to Know the Difference Between Confidential Information and Trade Secrets

Distinguishing between confidential information and trade secrets is an essential element of operating a business trying to corner a market. This distinction is not merely theoretical; it plays a significant role in how organizations handle their data, defend their legal rights, and strategically outmaneuver their competition. How a business manages and secures its intellectual property will significantly influence Read More

Federal Court Rules Against the Corporate Transparency Act. What’s Next?

In recent months, Dahl Law Group has extensively covered the enactment and implementation of the Corporate Transparency Act (CTA), a new law that, starting January 1, 2024, mandates qualifying businesses to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). The aim of the new law, according to the federal government, is to cut down on financial crimes such as money Read More

What is “The Freeze Partnership?”

Your estate plan needs to execute the transition of wealth from one generation to the next in a tax-efficient manner. Attempting to just force all assets through a simple will without consideration of more money-conscious actions fails your legacy and those you are passing this legacy onto. The Freeze Partnership is one such technique that stands out because of its unique approach to transferring wealth while Read More

The 6,000-Pound Vehicle Tax Deduction

Navigating tax season can be a challenge for business owners because they must account for various deductions and credits to reduce their taxable income. As we help you come up with an effective tax strategy, one option you may not have heard about or don’t fully understand is the deduction for vehicles weighing over 6,000 pounds. This deduction is a tool for businesses that rely on large vehicles—decreasing taxable Read More

The “Popeye Plan” For Business Owners

Business succession and financial planning often involve strategies tailored to optimize specific benefits for business owners. There is no one-size-fits-all answer to business succession planning, so you need a partner with a far-reaching grasp of the various strategic options. One such strategy, the “Popeye Plan”, is particularly suited for owners with consistent earnings and a distinct vision for their Read More

Will Divorced Spouses Still Receive Assets in a Will?

The end of marriage signals a major shift in your financial future, especially regarding how your assets will be distributed through wills within your estate plan. It’s common practice to designate your spouse as the recipient of all or a significant portion of assets through a will, but how does a divorce impact those designations? Thankfully, the law provides a safety net to safeguard your assets and your legacy Read More

Do Beneficiary Designations Override a Will and Trust?

Estate planning is a crucial element of long-term financial success and establishing an effective succession plan. Your legacy will be impacted by the decisions you make and how you prepare your assets and accounts to transition down the line. For many people, estate planning is complicated by the availability of beneficiary designations on various accounts – both designating your trust, and outside of your estate Read More

You Need to Understand the Financial Implications of Hiring a Remote Workforce

As we mentioned last week, the American workforce is evolving. Technology is allowing businesses to use alternative methods for hiring employees instead of relying entirely on in-house staff that require office space and resources. Many businesses were forced to shift to more telework due to the COVID-19 Pandemic. These changes bring inevitable questions, however, including the tax and other financial liabilities of Read More

Are Your Workers Employees or Independent Contractors?

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

LLCs and Corporations Won’t Protect Against Professional Liability

Capturing a reprieve from certain liabilities in setting up a corporation or LLC is a crucial element of running these professional entities. However, it’s important to understand exactly what liability protections you earn and what liability you are still exposed to. Some professionals, especially those operating professional corporations, make the mistake of overestimating exactly how liability protection works and Read More