Tuesday, February 7, 2023
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Buy-Sell Agreement: Be Sure to Answer These Questions

Resolve "what if?" questions now if you own a business! One estate planning tool that can protect your family and partners is a buy-sell agreement. This legal document gives owners the first chance to buy an...
business buy-sell agreement

If You Co-Own a Business, You May Need a Buy-Sell Agreement

If you co-own a business, it's generally a good idea to have a well-drafted buy-sell agreement to protect everyone's interests. Here are some basics about this important document, including the valuation methods used. There are two...
business succession with father and son

Pair a Trust and an Installment Sale to Pass on Your Business

For many people, a family business is a significant source of wealth, so passing it on to the next generation in a tax-efficient manner is an important estate planning goal. One of the simplest and...
pass-through entities tax break

New Law Gives Eligible Pass-Through Businesses a Special Tax Break

Federal income tax rates for C corporations have been reduced to a flat 21%, starting in 2018 under the Tax Cuts and Jobs Act (TCJA). But what about pass-through businesses? Congress devised a special tax break...
pass-through entity under tax cuts and jobs act

Will Pass-Through Entities Still Be Beneficial under the Tax Cuts and Jobs Act?

Will pass-through entities still be popular under the Tax Cuts and Jobs Act (TCJA)? The tax rules for pass-through entities, including S corporations, limited liability companies (LLCs), partnerships and sole proprietorships, have generally become more...
business succession planning

Transferring a Business? Consider a Grantor Retained Annuity Trust

Succession planning for your business can be daunting. Along with selecting the right family member or other individual to carry on the business, you must weigh a variety of tax and financial planning issues. Some...
business succession planning

Why Business Owners Don’t Plan for Succession – and Why It’s Critical.

Many business owners procrastinate putting a well-conceived succession plan in place. The reasons are understandable. It can be difficult to plan for your replacement and deal with your mortality. Here are five of the top reasons...
business succession when partner dies

How to Ensure the Survival and Success of a Business When a Partner Dies

Consider this scenario: Two business partners have been friends since high school. After going to college, and spending a few years in the work force, the two friends come back together and start a manufacturing...