My Blog
taxes
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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 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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Nina Stillman: Posted on Tuesday, November 01, 2011 1:38 PM
 "I am too young to have a will". or "Really, Me??? I don't have anything to plan for. These are the most common excuses I hear when younger people meet me and I tell them that I am an estate planning attorney. Business owners always tell me that they will take care of that when they make their money"! I have take n the liberty of adapting from a Wall Street Journal Blog an article about estate planning for all ages. "There’s a misconception that |
Attorney, Wills, Estate Planning, intestate, married, minor children, no will, single, Life Insurance, succession planning, taxes, guardians, power of attorney, Trust, aging parents, asset management
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Nina Stillman: Posted on Tuesday, October 18, 2011 8:35 AM
 It is National Estate Planning Week! (ok so we had to declare it for ourselves!) What is estate planning and what are the basics you ask? Why is it important? Estate planning is a process utilizing the advice of trusted advisers to assist you with decisions about how to protect and distribute your assets(including your business if you own one) when you pass away, who should pay your bills and take care of your monetary affairs for you in the event that you are living but unable to take care of them yourself, and also who should make medical decisions for you based upon your wishes in the event that you are injured but cannot communicate your desires clearly. |
Wills, Estate Planning, minor children, Life Insurance, tax savings, Business law', business taxes, buy sell agreement, corpoation, corporation, dissolution, exit strategy, partnership, sale of business, succession planning, taxes, trusted advisor, disability, retirement, guardians, power of attorney, Charity, asset management
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Nina Stillman: Posted on Thursday, October 13, 2011 1:55 PM
 I have been blogging about business law and estate planning issues for a few months now and one client asked me " I love your posts but why do you do it? Why do you get out of bed and do this work everyday?" I realized that I have not told my story to too many people so here it is... I am the daughter of an entrepreneur/business owner who, while he may not have known it at the time, taught me so much about business and I have always wanted to do something with what I have learned from him. |
Attorney, Estate Planning, tax savings, Business, Business law', business taxes, business valuation, corporation, exit strategy, Limited liability, LLC, partnership, sale of business, succession planning, taxes, trusted advisor, retirement, Trust, compassion
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Nina Stillman: Posted on Tuesday, September 27, 2011 7:02 PM
 I had the wonderful experience a few weeks ago thanks to my friend Pete Laffertyof Merril Lynch, to volunteer for a day at a Habitat for Humanity site and help build a house in North Minneapolis. You will all think that I am crazy, but I and 6-7 other volunteers spent about 5 hours swinging hammers and staple guns and the other hour was spent eating lunch and "putting a few things" together. It was fabulous!!!! The wall sections of the house were pre-made for us and we sheathed them with plywood (the hammering) and then we covered the plywood with water barrier paper( the staple guns). |
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Posted on Thursday, September 22, 2011 5:16 PM
 Most Americans are not in a situation of worrying about paying estate taxes upon their passing. In Minnesota you can pass your heirs, charities and special loved ones up to 1 Million dollars before ever having to pay estate taxes. The IRS allows you to pass up to another 4 Million dollars upon your death before worrying about being taxed at the Federal level. many people ask me with a smirk on their face- "Why do I need to bother with a will or estate plan? - I will never have to pay taxes". |
Attorney, Wills, Estate Planning, divorce, intestate, married, minor children, no will, single, tax savings, Revocable trust, trustee, dissolution, employment, real estate, taxes, trusted advisor, bankruptcy, disability, guardians, power of attorney, trust distributions, Uniform Gifts to Minors Act
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Nina Stillman: Posted on Thursday, September 15, 2011 8:03 PM
 Just like moving into a new house, starting a business can be so exciting! Getting your concept off the ground and going gets the adrenaline pumping!!! But what about the formation of your business and making sure the foundation is strong and stable? You buy homeowner's insurance to protect your new house - so why would you not get the same type of insurance policy for your new business.... yes, you would get property and casualty insurance, but your business lawyer can provide a huge amount of protection as well. |
Attorney, Business, Business law', business taxes, business valuation, buy sell agreement, compliance, contracts, copyright, corpoation, corporation, dissolution, employment, exit strategy, financing, leases, Limited liability, LLC, LLP, partnership, patent, real estate, regulations, sale of business, service mark, succession planning, taxes, trade secret, trademark, trusted advisor, vendor
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