Do a Google search for “online estate planning documents”, and you’ll find dozens of different websites. From LegalZoom and Willing.com to Rocket Lawyer and Willandtrust.com, these do-it-yourself (DIY) planning services might seem like an enticing bargain. The sites let you complete and print out just about any kind of planning document you can think of—wills, trusts, health care directives, and powers of Read More
Save Money on Taxes By Crafting an Accountable Plan
If you’re like most entrepreneurs these days, you are looking for every possible way to save money so your company can stay afloat and make it through these difficult times. We encourage you to take advantage of and (quickly) apply to every relief option offered by the state and federal government. On your own, you should look at a number of tax-reduction strategies; this blog will take a look at one of these Read More
Are You Clear About How Your Parents’ Estate Plan Will Impact You?
Do your parents have an estate plan? Is it up to date? No matter how rich or poor you or your parents are, especially in the wake of the COVID-19 pandemic, you need to be asking these and several other questions. When your parents become incapacitated or die, their affairs will become your responsibility, and it will be impossible to ask them to clarify anything. So, if you do not know whether or not they have estate Read More
Business Contracts in the Time of Coronavirus
As everyone’s lives are upended due to the coronavirus pandemic sweeping every corner of the world, business as usual seems almost impossible. For example, what about that seemingly rock-solid business contract you signed last fall? Performing as specified under it seems almost impossible now. So, what are business owners and managers like you supposed to do? To provide a bit of guidance in these uncertain times, we Read More
How To Talk To Your Team About Covid-19 and Get Them Working Efficiently from Home
There isn’t a single person who isn’t impacted by the spread of COVID-19, in some way. With the sheer number of businesses, public spaces, and school closings, we are all finding ourselves in positions we very likely have not planned for very well. This is a time unlike any other that we have experienced, and we’re seeing it hit the job market in a big way. Thousands of people have been laid off across the Read More
Three Reasons Coronavirus Makes Estate Planning More Important Than Ever
These unprecedented times are scary for us all. Though the numbers are still out, it seems that while coronavirus is mainly life-threatening only for the elderly and immunocompromised, it can also in some cases claim the lives of the young and the healthy. For many, this is a wakeup call. Between accidents and undetected medical issues, the young and seemingly healthy have never been death-proof, but the highly Read More
Accessing Research and Development Credits
Many small business owners are not aware of a tax credit they can take advantage of: the Research & Development (R&D) Tax Credit. The purpose of this is to encourage innovation from small businesses by offsetting their costs of research and development. It was also implemented to help keep skilled workers in the U.S. Up to $1.25 million (or $250,000 each year for up to five years) in tax credits can be Read More
The SECURE Act’s Impact On Estate and Retirement Planning—Part 2
On January 1, 2020, the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) went into effect, and it could have big implications for both your retirement and estate planning strategies—and not all of them are positive. Last week, we discussed three of the SECURE Act’s most impactful provisions. Specifically, we looked at the SECURE Act’s new requirements for the distribution of assets from Read More
4 Estate Planning Documents No Entrepreneur Should Be Without
Though most entrepreneurs understand the value of effective business planning, fewer are aware of the critical role estate planning plays in their company’s success. Yet considering what would happen to your business upon your death or in the event of your incapacity is one of the single-most important things you can do for your business. Indeed, without a proper estate plan, the business you worked so hard to Read More
How Will The Coming Wealth Transfer Affect Your Family and Business?
Whether it’s called “The Great Wealth Transfer,” “The Silver Tsunami,” or some other catchy-sounding name, it’s a fact that a tremendous amount of wealth will pass from aging Baby Boomers to younger generations in the next few decades. In fact, it’s said to be the largest transfer of intergenerational wealth in history. Because no one knows exactly how long Boomers will live or how much money they’ll spend before Read More
