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Posted on Friday, May 18, 2012 1:34 PM
 Estate planning is absolutely crucial in planning for the future of your assets and your family. We frequently discuss the various advantages and ways to plan successfully. Today, we will look at some of the typical mistakes which are frequently made when planning for the future. The most common mistake in estate planning is simply not having a plan. As obvious as this one seems, it certainly happens more often than you imagine. This also ties into another very common mistake which is having an Estate Plan which was made without the help of a qualified professional. |
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Nina Stillman: Posted on Thursday, May 10, 2012 3:54 PM
Estate freezing techniques are tools which can be used by people to minimize certain gift and estate taxes by freezing the value of assets currently in their estate. These techniques are typically used to stop the growth of an estate when planning for the future. When an individual freezes the value of some of their assets, the tax liability that would arise on the death of the individual or the owner of the business would be locked in at the value the asset had at the time of the activity which froze the value. |
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Posted on Friday, May 04, 2012 4:47 PM
 As you plan for the future, you take time to make sure that your assets are properly taken care of but, have you considered yourself? Have you thought about what may happen if you were unable to communicate your thoughts and wishes as they pertain to your health care? This is where a Health Care Directive would come to your assistance.
Health Care Directives (HCDs) are an integral part of planning for the future.Typically, they are documents which communicate your wishes about your own healthcare in the case where you would be unable to do it yourself. |
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Posted on Thursday, April 26, 2012 3:00 PM
 Statistically in the U.S., less than
30% of small businesses keep their doors open into the second generation. A
large cause of this disturbing statistic is the failure in succession planning
by many small businesses. If you are unfamiliar with succession planning for a
small business, a simple way to define it would be to say that succession
planning includes the steps taken by businesses to make sure that they keep
operating when the principal can no longer run the day to day operations.
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Paul Berlin: Posted on Thursday, April 19, 2012 10:49 AM
 A Non-Qualified Deferred Compensation (NQDC) Plan typically is an unfunded and unsecured promise by an employer to pay compensation to one or more of its employees in the future (usually beginning at retirement). The plan is “non-qualified” because it does not meet the requirements of IRC sections 401 to 417 (participation, vesting discrimination, etc) that are satisfied by a qualified pension or profit-sharing plan.
Under a NQDC plan, the employees may voluntarily elect to defer a part of their compensation, or the employer may defer “extra” compensation, or both the employee and employer may make contributions that will lead to distributions to the employee at some specified future date. |
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Posted on Thursday, April 12, 2012 10:03 AM
 If you are considering starting a new business, you have
probably started compiling a list of things and processes you will need to take
care of before you even open your doors. Your list of things to do most likely
includes setting up an office, getting business cards, and evaluating website
options, but have you considered contacting an attorney?
Many small businesses hold off on consulting an attorney
until they run into legal trouble. In many cases, this will be too late and
will result in major repercussions for the business. |
Attorney, DIY Legal, Business, business taxes, contracts, copyright, corporation, Limited liability, LLC, partnership, regulations, taxes, trade secret, Family Business
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Posted on Thursday, April 05, 2012 2:50 PM
 At some point there will come a time when your business will need to bring in help. Maybe your company has grown to the point where the workload is too big for you and your employees to handle, or you just landed a large project which temporarily needs extra attention. It might even be the case where you need to delegate certain tasks and processes to others so that you can concentrate on sales or management. One of the increasingly popular options would be to outsource the work to another company or individual. |
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Posted on Friday, March 30, 2012 3:17 PM
 Last week, we took a look at President Obama’s proposal for the 2013 budget and its implications for small businesses. Today, we will examine Estate Tax changes the new budget may have in store for us.
The first and possibly most important change in the Estate Tax is the return to 2009’s tax rates. Currently, the estate tax exemption is $5 million. Anything over that amount in your estate would be taxed at a 35% rate federally. Going back to the 2009 parameters, the exemption would decrease to $3.
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Posted on Thursday, March 22, 2012 4:50 PM
As small business owners, we are always concerned about how the decisions our elected officials make will effect us and our businesses. As we get closer to Washington’s 2013 fiscal year, which starts in October, we are left to wonder how the President’s new budget will effect us. Regardless of which side of the aisle you prefer, it is important to examine the positives and negatives of the new budget as they relate to us.
As part of the President’s new budget, the payroll tax cut is extended. Though it will decrease the tax burden on employees, the employer will see no change in this tax.
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Nina Stillman: Posted on Monday, March 19, 2012 10:22 AM
 Whether your small business is just starting out of the gate or has already established itself, chances are that you’re always looking for great resources to help you grow your business. We may already be surrounded by quality business acquaintances and have years of experience but we all run into various situations in which we need additional direction and information. A great resource which many savvy business owners tend to overlook is the public library. Other than the usual books and periodicals, many libraries have additional resources specifically added to be at the disposal of small businesses. |
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