Although it’s the likely most boring part of your website, having a well-thought-out Terms of Use page for your company’s website is a smart move. Your Terms of Use page sets the rules for your company’s website, and going without one opens your business up to a number of unnecessary risks. Also known as “Terms and Conditions” or “Terms of Service,” your Terms of Use function as a legally binding agreement between Read More
Why Putting Your Family Home In A Trust Is A Smart Move—Part 1
If you are like many homeowners, your home is likely your family’s most valuable and treasured asset. In light of this, you want to plan wisely to ensure your home will pass to your heirs in the most efficient and safe manner possible when you die or in the event you become incapacitated by illness or injury. Indeed, proper estate planning is as much a part of responsible homeownership as having homeowners Read More
Preventing Family Conflict And Disputes Over Your Estate Plan
No matter how well you think you know your loved ones, it’s impossible to predict exactly how they’ll behave when you die or if you become incapacitated. No one wants to believe that their family members would ever end up fighting one another in court over inheritance issues or a loved one’s life-saving medical treatment, but the fact is, we see it all the time. Family dynamics are extremely complicated and prone Read More
Pay It Forward: Understanding Your Options with Charitable Trusts
One of the mainstays of the holiday season is the emphasis on giving. Whether it’s the bell ringers for the Salvation Army outside the grocery store, or nearly every cashier you pass asking if you’d like to round up your purchase to donate to that particular store’s charity, the holidays are the time when giving is most often on our minds and agendas. Although we’re past the holiday season and into the new year, Read More
How to Maximize Your Startup Cost Deductions
Coming up with a solid concept for a new business and working to get your operation off the ground can be an expensive undertaking. But the good news is that you can write off a number of the expenses involved with the startup process. That said, the rules for deducting startup expenses are a bit different from those for writing off general business expenses incurred by an existing company. For example, most Read More
The Basics On NFTs: The Newest Cryptoverse Craze
NFTs, or “non-fungible tokens,” are the latest sensation in the cryptocurrency universe, or as many like to call it, the “Cryptoverse.” And if you haven’t heard about NFTs yet, now is a great time to learn because they are likely to be a big part of our collective future. So what is an NFT? In the most basic terms, an NFT is a cryptographic token that exists on a blockchain and is used to establish proof of Read More
A Not-So-Happy Accident: Bob Ross’s Estate Planning Failures Leave His Son With Next to Nothing—Part 2
As the host of the wildly popular The Joy of Painting TV series on PBS, Bob Ross became a pop-culture icon, who was equally famous for his giant head of hair, soothing baritone voice, and folksy demeanor as he was for his iconic landscape paintings. And like so many other artists, Bob’s artwork and image would become even more popular following Bob’s death in 1995. Bob’s philosophy in both painting and life was Read More
The IRS Allows Flexible Allocations for LLCs Taxed as Partnerships—Don’t Ignore It!
The limited liability company (LLC) legal structure is a popular one among entrepreneurs. Founders may enjoy limited personal liability while avoiding double taxation present with traditional corporations. The Internal Revenue Code (IRC) also offers flexibility among LLC members (owners) when it comes to allocations of profits, gains, losses, deductions, and credits. With great flexibility, however, comes great Read More
A Not-So-Happy Accident: Bob Ross’s Estate Planning Failures Leave His Son With Next to Nothing—Part 1
As the host of the wildly popular The Joy of Painting TV series on PBS, Bob Ross became a pop-culture icon, who was equally famous for his giant head of hair, soothing baritone voice, and folksy demeanor as he was for his iconic landscape paintings. And like so many other artists, Bob’s artwork and image would become even more popular following Bob’s death in 1995. Bob’s philosophy in both painting and life was Read More
5 Common Mistakes When Starting a New Business
It seems that everywhere you look, a new start-up is trying to make it big with a game-changing idea, or an aspiring family member is looking to set up a business to provide better for his or her family, and achieve new accomplishments. But it’s only the ones that can turn that idea into reality that reach business success. Too many start-ups fail to make the transition from idea to execution or encounter major Read More